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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    September 17. The World Bank gave dates of the global economy recovery

    World Bank Chief Economist Carmen Reinhart, speaking at the Trends 2021 online forum, said that the global economy will not recover from the coronavirus crisis until 2025.

    Therein, in some countries the recession will last longer than in others. In particular, poor countries will be much more affected by the crisis, which could lead to an increase in the level of extreme poverty in the world from 8% to 9%.

    In a June World Bank report, experts predicted the worst recession since World War II. According to them, the decline in the global economy in 2020 will be 5.2%.
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  2. HackEthics

    HackEthics Member

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  3. KostiaForexMart

    KostiaForexMart Senior Investor

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    September 22. UK signaled new quarantine

    On Tuesday, the UK said it intends to abandon the return of people to their usual jobs in an attempt to contain the rapidly growing second wave of Covid-19 in the country.

    In addition to imposing curfews for pubs and restaurants, Prime Minister Boris Johnson called on the population to switch to remote work. Such statements may indicate that the country is moving towards expanding the tough social distancing measures introduced in the spring.

    On the news, stocks in UK travel and leisure companies began to decline before they bounced back from the crisis (Ryanair, International Airlines Group and Air France). KLM shares plunged 4-5%, while shares in aerospace suppliers Meggitt, Senior and Rolls-Royce tumbled for the last to hit another new low for the year.

    The British company Whitbread, which operates a chain of hotels and restaurants, announced today plans to cut 18% of its staff, or about 6 thousand jobs. The company's shares fell 3.5%, having lost more than half of their value this year.

    September 23. US Department of Energy Oil Inventory Report

    According to the Energy Information Administration (EIA) of the US Department of Energy, the volume of commercial crude oil in storage in the United States (excluding strategic reserves) for the week ended September 18, decreased by 1.6 million barrels to 494.4 million barrels. Analysts predicted a decline in oil reserves by 4.0 million barrels.

    US gasoline stocks decreased by 4.0 million barrels. and amounted to 227.5 million barrels. Experts expected a 1.9 million barrels of gasoline reserves to be cut. Distillate stocks (including diesel fuel and heating oil) decreased by 3.4 mln barrels. and amounted to 175.9 million barrels. Analysts had expected an increase in distillate stocks by 1.2 million barrels.

    Oil reserves in the US Strategic Reserve (SPR) decreased by 0.8 million barrels. and amounted to 645.0 million barrels.

    Cushing's commercial crude oil reserves remained unchanged at 54.3 mmbbl.

    Earlier, the API Institute reported that commercial oil reserves in the United States increased by 0.7 million barrels last week, gasoline inventories decreased by 7.7 million barrels, distillate reserves decreased by 2.1 million barrels, and oil reserves in the Cushing storage facility increased by 0.3 million barrels.

    September 24. Oil prices drop due to economic uncertainty and coronavirus

    Oil prices fell on Thursday amid uncertainty about the outlook for the global economy and the situation with the coronavirus. The current quotation of Brent is $41.50 per barrel, WTI is $39.75.

    Market participants are awaiting further action by the authorities of some countries amid an increase in new cases of coronavirus infection. Investors are concerned about the outlook for the global economy and oil demand amid the likelihood of re-imposing restrictions by some countries.

    Additional pressure on oil prices was exerted by statements by the Iraqi oil minister that the country was counting on an agreement with OPEC + to increase oil exports. A week earlier, the minister said that Iraq had developed a plan to compensate for its overproduction of oil by the end of 2020 as part of the OPEC + deal.
     
  4. Linda Smith

    Linda Smith Senior Investor

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  5. KostiaForexMart

    KostiaForexMart Senior Investor

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    September 28. Swiss GDP declines at record 40 years

    According to the State Secretariat for Economic Affairs (SECO) of Switzerland, the country's GDP fell by 7.3% in the second quarter of this year. Such a decrease was recorded for the first time since 1980 – since the first calculation of quarterly indicators.

    The indicator was revised downward, from -8.2%.

    The department also clarifies that in the second quarter, aggregate demand decreased. Personal consumption has plummeted 8.1% due to the coronavirus pandemic and the measures taken to contain it. In addition, the export of goods decreased – by 6.5%, the export of services fell by 15.3%.
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  6. KostiaForexMart

    KostiaForexMart Senior Investor

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    October 01. US industrial PMI declines unexpectedly

    According to the US Institute for Supply Management (ISM), the US Manufacturing Index (ISM Manufacturing) fell to 55.4% in September from 56% in August. Analysts had expected the indicator to rise to 56.4%.

    In addition, the US service sector employment index rose to 49.6% in September from 46.4% in August. Experts had expected a decline to 45.8%.
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  7. KostiaForexMart

    KostiaForexMart Senior Investor

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    October 5. US services PMI gains better than forecast

    According to the American Institute for Supply Management (ISM), the index of business activity in the US services sector in September rose to 57.8%. The indicator for August was noted at 56.9%. Analysts had forecast a decline to 56.3%.

    The employment index in the country's services sector in September rose to 51.8% from 47.9% in August.

    The purchasing managers' index (PMI) for services, calculated by IHS Markit and also released today, dropped to 54.6 points in September, up from 55 points in August.

    Business activity in the US services sector continues to climb for the fourth straight month amid a gradual recovery from the coronavirus crisis. The service sector accounts for almost 90% of US GDP and about 80% of the country's working citizens.
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  8. KostiaForexMart

    KostiaForexMart Senior Investor

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    October 06. The EU is ready to resort to new measures of economic stimulus

    The head of the European Central Bank, Christine Lagarde, said during her speech that the regulator is ready to resort to new monetary stimulus measures, including lowering the key interest rate even below zero, to help the recovery of the Euro zone economy.

    Lagarde also noted that with the second wave of coronavirus in France and Spain, the prospects for restoring activity in the region look «a little more unstable.» The head of the ECB believes that the eurozone's GDP will not return to pre-crisis levels until the end of 2022, so it is necessary to continue stimulating.

    So far, the ECB has refrained from further cutting rates, although it announced a new stimulus program worth about 3 trillion euros. The key rate for today is 0.0%.

    Representatives of the banking sector have repeatedly stated that negative rates of the ECB negatively affect profits. Analysts believe that the rate cut will lead to a weakening of the euro, which has strengthened against the US dollar in recent months. And this, in turn, will reduce the concerns of the regulator about the high rate of the euro, which negatively affects large exporters and inflation.
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  9. KostiaForexMart

    KostiaForexMart Senior Investor

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    October 07. Futures on US indices are growing in anticipation of the Fed meeting minutes

    Futures on major US stock indexes started to rise on Wednesday after a sharp drop a day earlier after President Donald Trump announced that he would stop negotiations on supporting the economy. Further trading dynamics will depend on the publication of the minutes of the last meeting of the US Federal reserve system this evening.

    The Dow Jones industrial average rose 0.82% to 27928 points, the NASDAQ high-tech index rose 0.88% to 11373.88 points, and the S&P 500 broad-market index futures rose 0.83% to 3380.88 points.

    Investors are awaiting the release of minutes from the Fed's September meeting, in which they think to find details of further prospects for the recovery of the American economy in the context of the coronavirus pandemic.

    Yesterday's decline was caused by US President Donald Trump's announcement to end negotiations with Democrats in the house of representatives on stimulating the economy before the November presidential election. The reason was a disagreement over the amount of stimulus: house speaker Nancy Pelosi is demanding $2.4 trillion, and the White house administration is ready to give no more than $1.6 trillion.
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  10. KostiaForexMart

    KostiaForexMart Senior Investor

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    October 08. U.S. unemployment shrinks amid slow growth in new jobs

    According to the US Department of Labor, last week the number of Americans who filed initial applications for unemployment benefits fell to a minimum since the start of the pandemic – to 840 thousand people. At the same time, the number of applications for benefits remains at a level indicating a slowdown in the recovery of the labor market, as the virus epidemic has dragged on. Economists predicted a stronger decline – to 820 thousand people.

    The number of secondary applications fell to 10.576 million, more than 1 million in a week.

    The total number of people who have applied for all forms of unemployment benefits fell by just over 1 million to 25.505 million.

    The ministry's report emphasizes that there is an urgent need for additional fiscal stimulus to help the economy recover from the recession caused by the epidemic. In September, only 661,000 jobs were created in the United States, the smallest increase since the start of the labor market recovery in May. In August, the increase amounted to 1.489 million.
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