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 28. Fed extends lending programs until December 31

    A two-day meeting of the US Federal Reserve System starts today, following which the regulator will make public its decision on the rate and further monetary policy.

    At the end of the first day, the central bank announced that it is extending operations on seven emergency lending programs by three months, until December 31, in order to maintain activity during the coronavirus pandemic.

    These programs were initiated in March and April until September. Program extensions should facilitate planning for potential program participants and provide certainty that these programs will continue to be available.
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  2. KostiaForexMart

    KostiaForexMart Senior Investor

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    July 30. German GDP and quarterly losses hit the European market

    On Thursday, the European stock market crashed after the publication of the German GDP report and disappointing macroeconomic data.

    Germany's DAX traded 2.4% lower, to 12.516, France's CAC 40 fell 1.15%, to 4.901, and Britain's FTSE declined 1.65%, to 6.031.

    Germany's GDP report reflected a 10.1% decline in the German economy, the sharpest drop in history.

    Indicators of quarterly losses of European companies also had a detrimental effect on the dynamics of the European market. French carmaker Renault SA fell 2.8%, posting a record net loss of 7.29 billion euros in the first half of this year. Its German rival Volkswagen AG plunged 5.3%, posting an operating loss of 800 million euros in the first half.

    Shares of the Italian oil company ENI SpA fell 3.5% after the company reported a loss in the second quarter and cut dividends. France's Total recorded an asset impairment of $8.1 billion in the second quarter, but retained dividends.

    Only pharmaceutical companies showed growth. In particular, AstraZeneca gained 3.1% after reporting a second quarter net profit growth and testing of a coronavirus vaccine.
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  3. KostiaForexMart

    KostiaForexMart Senior Investor

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    July 31. EU GDP collapses by record 14.4%

    According to the statistical agency Eurostat, the GDP of the EU countries in the II quarter fell by 14.4% in annual terms. On a quarterly basis, the indicator decreased by 11.9%. In the first three months of the year, the EU economy contracted by 3.6%. Figures like these signal that the European economy has entered a recession.

    Earlier in July, the European Commission presented its forecast for changes in Europe's GDP: experts expected the economy to decline by 8.3%.

    At the same time, the economies of 19 eurozone countries contracted by 12.1% in the second quarter and by 15% – in annual terms. Analysts had expected a decline of 11.2% and 13.9%, respectively.

    The fall in all indicators has become the sharpest and strongest since 1995 – since the beginning of statistics.
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  4. KostiaForexMart

    KostiaForexMart Senior Investor

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    August 03. The PMI index of the industry of the eurozone in July rose to 51.8 points

    According to the research organization Markit Economics, the index of business activity (PMI) in industrial production of 19 eurozone countries in July rose to 51.8 points against 47.4 points in June. Analysts predicted that the indicator would rise to the level of preliminary estimates of 51.1 points.

    At the same time, industry PMI in Germany, according to final data, rose to 51 points from 45.2 points in June. PMI in France in July increased to 52.4 points from 52.3 points in June.

    Analysts had expected the German index to rise to 50 points and the French to 52.
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  5. KostiaForexMart

    KostiaForexMart Senior Investor

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    August 04. Gold rises in price on increasing geopolitical risks

    On Tuesday evening, the price of gold started to rise sharply, reaching $ 2.001 per troy ounce. The growth driver was fears of further deterioration in relations between the United States and China.

    Market participants continue to follow the news around the TikTok app, owned by the Chinese company ByteDance. Earlier, it became known that US President Donald Trump announced plans to ban TikTok on the grounds that this Chinese company, by law, must transfer user data to the PRC authorities.

    Trump's actions are forcing TikTok to sell its US assets to an American company, which was seen by the Chinese authorities as another provocation and led to increased tensions between the two countries.

    As a result, market players prefer to ditch risky assets in favor of safer ones, which traditionally include gold.
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  6. KostiaForexMart

    KostiaForexMart Senior Investor

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    August 06. US unemployment claims data are encouraging

    According to the US Department of Labor, the number of Americans who filed initial applications for unemployment benefits fell to 1.186 million last week after rising in the previous two weeks. Economists had forecast a smaller decline to $ 1.415 million.

    The number of secondary applications from those who continue to receive benefits dropped to 16.107 million, down from the previous week by 1.951 million.

    On Friday, investors await a more complete report on nonfarm payrolls. The report is predicted to show that an additional 1.6 million jobs were created in the labor market last month, or hiring fell sharply from a record 4.8 million in June.
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  7. KostiaForexMart

    KostiaForexMart Senior Investor

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    August 07. US: 1.8 million jobs added in July, unemployment falls to 10.2%

    According to the US Bureau of Labor Statistics, only 1.763 million jobs were created in the nonfarm economy. This signals that the recovery of the American economy after the coronavirus pandemic has slowed in July.

    Forecasts assumed growth of 1.6 million jobs. Despite the fact that the current data exceeded analysts' expectations, there is a decrease in job growth compared to the jump in the previous month, when 4.791 million people were hired.

    The report also reflected the current state of unemployment in the country. To date, the unemployment rate has dropped to 10.2% of the total working-age population, after 11.1% in June. Analysts predicted the growth rate to 10.5%.
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  8. KostiaForexMart

    KostiaForexMart Senior Investor

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    August 10. US stock market opened with growth in hopes of new liquidity injections

    The US stock market started the week in a positive mood amid hopes for a compromise on a new package of measures to support the population and the economy.

    Treasury Secretary Steven Mnuchin said a deal with House Democrats this week is still possible, despite the failure of talks last week when the parties failed to agree on a $2 trillion bailout.

    So, Donald Trump the day before decided to extend the payment of unemployment benefits in the amount of $400 per week and to suspend the income tax bypassing Congress.

    As a result, the Dow Jones Industrial Average rose 190 points, or 0.7%, to 27.624 points. The S&P 500 rose 0.3% to hit 3.350, while the Nasdaq Composite rose 0.2% to 10.923. Shares of such companies as McDonald's Corporation, Eastman Kodak Co, Simon Property Group Inc also showed growth.
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  9. KostiaForexMart

    KostiaForexMart Senior Investor

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    August 11. The rise in producer prices in the United States was the highest in almost 2 years

    According to the US Department of Labor, producer prices in the country (PPI) in July 2020 rose by 0.6% compared to the previous month. This was the highest growth rate since October 2018. Analysts on average had expected an increase of 0.3%.

    Such jump in prices is mainly due to the rise in energy costs amid the relaxation of restrictions imposed in connection with the coronavirus pandemic.

    Compared to July 2019, the PPI index dropped by 0.4%. Experts had forecast a 0.7% decline.
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  10. KostiaForexMart

    KostiaForexMart Senior Investor

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    August 13. US still can't agree on stimulus package

    Negotiations between Republicans and Democrats in Congress on the next round of economic aid measures remain stalled.

    House Speaker Nancy Pelosi said yesterday that the lower house is ready to negotiate with the Senate and the administration and reduce the difference between the proposed package of measures. The White House administration is offering $1 trillion, and the Chamber is offering $3.5 trillion.

    However, US Treasury Secretary Steven Mnuchin called such a proposal «misleading» and said that Democratic negotiators were not yet ready for a compromise at all.
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