Forexmart's Forex News

Discussion in 'Forex - Currencies Forums' started by Andrea ForexMart, Jan 18, 2018.

  1. KostiaForexMart

    KostiaForexMart Senior Investor

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    July 02. The number of jobs in the US in June jumped to a record 4.8 million

    According to the US Department of Labor, in June the number of jobs in the economy increased by 4.8 million. This growth was a record since the beginning of statistics in 1939. Experts on average predicted job growth of 3 million.

    Experts note the gradual recovery of economic activity in the country, following the partial lifting of quarantine measures. In March and April, the American economy lost about 22.2 million jobs.

    However, few people expect a quick recovery: many believe that the official data does not reflect the real scale of the losses, since a large number of people are considered to be employed, but they are not able to work due to continuing restrictions. In addition, there remains a high risk of a second wave of the epidemic not only in the United States, but throughout the world.

    The number of jobs in the private sector grew by 4.767 million in June, while in the public sector by 33 thousand. Industrial enterprises increased the number of employees by 356 thousand.
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  2. KostiaForexMart

    KostiaForexMart Senior Investor

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    July 06. Eurozone retail sales up 17.8% in May

    According to the European statistical agency Eurostat, retail sales in the eurozone in May rose by 17.8% compared with 11.7% in April . Analysts had expected sales growth of 15%.

    On an annualized basis, retail sales in the eurozone in the reporting month fell by 5.1%, although analysts had expected a decrease of 7.5%.

    In all EU countries, sales in May increased by 16.4% compared with April, and decreased by 4.2% in annual terms.

    The largest decline in sales in May was recorded in Bulgaria (-20.4%), Luxembourg (-19.7%) and Spain (-17.9%). The strongest growth was recorded in Germany (+7.2%), Denmark (+6.6%) and Austria (+4.8%).
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  3. KostiaForexMart

    KostiaForexMart Senior Investor

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    July 08. The EC approved the plans of Germany to allocate 500 billion euros to help companies

    The European Commission has announced that it has approved a plan by Germany to create a fund of 500 billion euros to help companies affected by the coronavirus pandemic. It is noted that with the help of this fund, companies will be able to get temporary access to government loans and investments.

    The EC stated that it continues to work closely with EU member states in finding solutions to support and finance European companies, subject to all EU rules.

    EC Executive Vice President Margret Westagher, who is responsible for competition policy, emphasized that assistance to companies will be determined by the necessary measures that will ensure compliance with competition rules.
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  4. KostiaForexMart

    KostiaForexMart Senior Investor

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    July 14. The number of applications for unemployment benefits in the US fell to 1.314 million, better than forecast

    According to the US Department of Labor, the number of initial applications for unemployment benefits for the week ending July 4, fell from a revised index of the previous week by 99 thousand, to 1.314 million.

    Analysts had forecast a decrease to 1.375 million from the original weekly rate of 1.427 million. The initial figure has been revised to 1.413 million.

    At the same time, the average number of initial applications over the past four weeks decreased by 63 thousand, to 1.437 million from the previous week's revised figure of 1.5 million. The initial figure was 1.504 million.

    And the total number of people receiving unemployment benefits in the United States for the week ending June 27 fell by 698 thousand from the revised figure of the previous week to 18.062 million people.
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  5. KostiaForexMart

    KostiaForexMart Senior Investor

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    15.07. Mexico announces completion of OPEC+ commitments and increased production

    Mexican President Andres Manuel Lopez Obrador said the country has fulfilled its part of the OPEC+ deal and intends to begin to increase oil production. Mexico has already reduced production by 100 thousand barrels per day.

    According to the agreement, Mexico reduced production by 9.7 million barrels per day from May to the end of June. In July, the contract was extended until the end of July. Since August, OPEC+ member countries are expected to reduce production by 7.7 million barrels for the period until the end of the year and by 5.8 million by the end of April 2022.

    23 countries are involved in the agreement, however, Mexico initially insisted on separate commitments, agreeing to reduce production only in May-June by 100 thousand barrels per day instead of the 400 thousand offered to it.

    It should be noted that in May Mexico even exceeded its obligations to the alliance: the commitment to the deal was 120%. And according to the International Energy Agency (IEA), in May the country exceeded its obligations even by 65%. In June, Mexico executed the OPEC+ deal 100%.
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  6. KostiaForexMart

    KostiaForexMart Senior Investor

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    July 20. EU emergency summit lasts for four days

    The EU summit, following which the leaders of the EU countries should discuss a package of assistance to restore the economy of the countries affected by the coronavirus pandemic, has been going on for four days. However, the parties cannot come to an agreement on many issues. Initially, the negotiations were supposed to be completed within two days.

    It became known that Austria, Denmark, the Netherlands, Sweden and Finland opposed Brussels' intentions to allocate 500 billion euros from a 750 billion package on the basis of a grant. This position caused a sharp discontent of the President of France: E. Macron said that the actions of these countries are «selfish», and France is ready to leave the summit in case of the prospect of signing a «bad agreement».

    At the same time, the President of the European Council Charles Michel proposed to reduce the share of grants to 400 billion euros.

    On the eve of the fourth day of the summit, the Prime Minister of the Netherlands noted some progress in the negotiations. Mark Rutte said that the head of the European Council is working on a new proposal to deal with the economic consequences of the pandemic.

    It's worth reminding, that the leaders of the EU countries have gathered to agree on a multi-year budget of more than 1 trillion euros, as well as a recovery plan, the size of which should be 750 billion euros.
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  7. KostiaForexMart

    KostiaForexMart Senior Investor

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    July 21. India intends to store crude oil in the US

    Authorities have announced that the country plans to store part of its crude oil reserves in the United States.

    The government notes that India needs new strategic oil reserves of its own, but building them could take several years and huge financial resources.

    The way out of the situation was the opportunity to rent American strategic storage facilities, moreover, that this would not entail large expenses. The oil that will be stored in the United States can be used by New Delhi both for its own needs and for sale on the world market. However, if oil prices fall during storage, India will suffer losses.
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  8. KostiaForexMart

    KostiaForexMart Senior Investor

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    July 22. US exchanges open lower on fears of conflict escalation with China

    At the auction on Wednesday, American stock indices generally show a decline, reacting to the likelihood of aggravation of relations between the US and China.

    The Dow Jones Industrial Average (DJIA) fell 0.13% to 26805.38 points, while the S&P 500 broad market index fell 0.03% to 3256.26 points. At the same time, the NASDAQ index of high-tech companies rose by 0.28%, to 10709.84 points. The index was supported by expectations of financial statements for the last quarter of such American companies as Microsoft and Tesla included in the index. Since the beginning of the year, Tesla shares have risen in price by 3.7 times, and Microsoft – by 32%.

    Investors drew attention to the news around the relationship between the United States and China. It became known that Washington ordered the closure of the PRC Consulate General in Houston in order to protect the intellectual property and personal information of Americans. In response, China is considering the likelihood of closing the US consulate in Wuhan.
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  9. KostiaForexMart

    KostiaForexMart Senior Investor

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    July 23. Britain and the EU have not agreed on the basic principles of relations

    The UK's chief Brexit negotiator David Frost said today that Britain and the EU have failed to reach agreement on key issues for a future trade deal. However, the politician still hopes for a successful conclusion of the negotiations in September.

    Michel Barnier, the EU's chief Brexit negotiator, also noted that there is a high risk of not reaching any agreements with Britain. He also said that the current position of Britain in negotiations on a future partnership makes the possibility of a trade agreement unlikely. It is about the UK abandoning open and fair competition and a balanced fisheries agreement.

    The next stage of negotiations is scheduled for August 17.
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  10. KostiaForexMart

    KostiaForexMart Senior Investor

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    July 24. US stock exchanges decline on geopolitical risks and fears for the country's economy

    According to the trading data, the main US stock indexes are declining on Friday, as investors assess the risks of the conflict between the US and China and doubt the prospects for the recovery of the US economy.

    The Dow Jones Industrial Average (DJIA) fell by 0.57%, to 26501.72 points, the broad market S&P 500 index – by 0.62%, to 3215.7 points, the NASDAQ high-tech index – by 1.47%, up to 10307.8 points.

    The pessimism in the markets was fueled by growing tensions between the world's two largest economies. Today, China has demanded that the US Consulate General in Chengdu, Sichuan Province cease operations. This demand was made in response to the closure of the Chinese Consulate General in Houston, USA.

    Additional pressure on the market is exerted by fears for the recovery of the US economy. Investors speculate that an increase in the number of coronavirus cases in America and a new round of quarantine restrictions may again suspend economic activity in the country.
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