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

  1. KostiaForexMart

    KostiaForexMart Senior Investor

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    October 15. Germany introduces additional measures to combat Covid-19

    German Chancellor Angela Merkel agreed to introduce additional measures in the country to combat the spread of COVID-19. At the same time, most of the new restrictions do not apply to the entire territory of Germany, but only to those parts where the number of cases of coronavirus will actively grow and reach 35 or 50 people per 100 thousand inhabitants.

    If 35 people per 100 thousand get sick, then citizens will have to wear masks in crowded places. In regions with an incidence of 50 people per 100 thousand inhabitants, a ban on the work of bars and restaurants after 23:00 will be introduced. The number of people at private parties will be reduced to 10.

    Merkel noted that if these measures do not help to reduce the number of infections, new tough restrictions will be introduced. According to her, Germany has come to a «decisive and critical phase», when the growth of new cases of the disease has already begun.
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  2. KostiaForexMart

    KostiaForexMart Senior Investor

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    October 19. US exchanges are growing on expectations of economic stimulus

    Major US stock indexes rallied on Monday in anticipation of news on a new US fiscal aid package and the upcoming November 3 presidential election.

    Thus, the Dow Jones Industrial Average grew by 0.3%, to 28690.91 points, the NASDAQ high-tech companies index – by 0.72%, to 11755.51 points, the S&P 500 broad market index – by 0.49%, to 3501.02 points.

    Markets remain focused on expectations for a new stimulus package for the US economy. The Republican administration of D. Trump supports a package of measures worth $1.8 trillion, but Democrats, led by Joe Biden, insist on $2.2 trillion.

    Over the weekend, it became known that the Speaker of the House of Representatives Nancy Pelosi made it clear that the agreement on US fiscal stimulus could be concluded from day to day, until the presidential election.
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  3. KostiaForexMart

    KostiaForexMart Senior Investor

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    October 21. EU intends to prepare a response to possible US sanctions

    German Foreign Ministry spokesman Christopher Burger said that the European Commission intends to consider ideas on measures to respond to economic sanctions by the United States by the end of the year.

    The proposals imply the formation of an EU export bank up to the creation of a digital euro. This will allow the EU to be independent from the US financial system.

    Moreover, the «pan-European instrument» should enable the European Union to respond to sanctions with retaliatory sanctions as a last resort. Also among the discussed measures – restrictions on the import of mobile phones from China.
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  4. KostiaForexMart

    KostiaForexMart Senior Investor

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    October 23. US exchanges are trading in positive territory on forecasts for state aid

    According to the trading data, the main US stock indexes on Friday are mainly growing against the background of how investors assess the prospects for a new package of support for the US economy.

    The Dow Jones Industrial Average (DJIA) rose 0.13% to 28399.19 points, the NASDAQ high tech index fell 0.13% to 11,490.58 points, the broad market S&P 500 index rose 0.27%. up to 3462.8 points.

    Investors also continue to monitor the situation around the presidential elections in the United States, which will be held on November 3. The final debate between Republican candidate Joe Biden and incumbent President Donald Trump ended yesterday. According to the poll, Biden won the final debate.

    Internal statistics had an additional impact on the US stock market. Composite index of business activity (PMI) in October, according to preliminary estimates, rose to 55.5 points from 54.3 points in September. The PMI index in the services sector increased over the reporting month to 56 points against the September estimate of 54.6 points. Analysts expected the indicator to remain at the same level. At the same time, the PMI in the industry rose to 53.3 points from 53.2 points, growth was expected to 53.4 points.
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  5. KostiaForexMart

    KostiaForexMart Senior Investor

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    October 27. US consumer confidence index unexpectedly declined in October

    According to analyst firm Conference Board, the consumer confidence index in the US in October fell to 100.9 points from the revised index of 101.3 points in September. Analysts had forecast an increase in the index to 102 points from the original September value of 101.8 points.

    The release noted that consumer confidence eased slightly in October after a sharp improvement in September. And now, there are few factors that could contribute to the economic recovery in the final months of 2020 (especially with the growth in the number of coronavirus infections in the United States and high unemployment).

    The index of economic expectations in the United States in October fell to 98.4 points from the revised September index of 102.9 points. The initial figure for the previous month was 104 points.

    The index of economic conditions in the reporting month rose to 104.6 points from the revised September value of 98.9 points. The original figure last month was 98.5 points.
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  6. KostiaForexMart

    KostiaForexMart Senior Investor

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    October 28. Bank of Canada has kept the rate at the same level of 0.25%

    The Bank of Canada on Wednesday kept its key interest rate at a record low of 0.25%. Earlier, the head of the Canadian Central Bank, Tiff Maclem, said that the rate would remain unchanged for at least two years amid a slow economic recovery after the coronavirus pandemic.

    Representatives of the regulator also noted that in the next two years, the country's economy will experience excess supply, which will lead to keeping inflation below the target level (2%) until 2022. Also, the central bank stressed that the recovery process of the Canadian economy will be long and uneven.

    The Bank also raised its growth forecast for the third quarter to 47.5% on an annualized basis. He also predicts stronger annual growth in 2020, although he lowered his forecast for 2021.
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  7. KostiaForexMart

    KostiaForexMart Senior Investor

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    October 29. ECB expectedly kept the base rate at zero level

    The Board of Governors of the European Central Bank (ECB) at its meeting today kept the base interest rate at a record low of 0%, as expected by most experts. The rate has been at this level since March 2016.

    The rate on deposits was also kept at the level of -0.5%, while the margin rate remained at the level of 0.25%.

    The European regulator said it will keep all rates at or below current levels until inflation in Europe approaches the 2% target.

    In addition to the rate, the Central Bank also left unchanged the parameters of the special asset purchase program Pandemic emergency purchase program (PEPP). To date, the volume of the program is 1.35 trillion euros, and it will operate at least until the end of June 2021.
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  8. KostiaForexMart

    KostiaForexMart Senior Investor

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    November 2. Oil prices fall amid new quarantine measures in Europe

    World oil prices fell to $36 a barrel Monday morning on concerns over demand following the announcement of new quarantine restrictions in Europe. However, during the day the asset managed to recover, the current Brent quotation is $37.50.

    Experts note that the deterioration of the situation with the coronavirus is forcing the authorities of European countries to take additional quarantine measures, which negatively affects expectations for economic recovery and oil demand.

    British Prime Minister Boris Johnson announced on October 31 stricter quarantine measures from November 5 to December 2. In the region, measures are being introduced that are actually similar to the spring lockdown. Austrian Chancellor Sebastian Kurz on Saturday also announced the start of the second lockdown from November 3. Germany from Monday to the end of November switches to the «soft» lockdown for the second time since the beginning of the pandemic.

    At the end of October, another government decree came into force in Italy, providing for new measures to combat coronavirus. In France, President Emmanuel Macron announced the introduction of a nationwide quarantine from October 30.

    Analysts note that the quarantine measures announced in the UK and Italy only exacerbate the negative situation in Europe.
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  9. KostiaForexMart

    KostiaForexMart Senior Investor

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    November 3. Expert: OPEC+ countries should postpone the softening of the deal from January of the new year

    Anne-Louise Hittle, vice president of consulting firm Wood Mackenzie, said at the International Exchange Forum that in order to maintain a stable market situation, OPEC+ countries should extend their current oil production cuts. Previously, the organization intended to soften the terms of the deal from January 2021, implying an increase in production by almost 2 million barrels per day.

    The expert stressed that from the point of view of balancing the market in the interests of the producing countries, it is not worth lifting the restrictions in January, although such plans were fixed in the April agreements. Hittle also noted that if restrictions on oil production are lifted from January 1, a very rapid overstocking of the market will occur in the first quarter of the year.

    On November 17, the next meeting of the leaders of the OPEC+ countries will take place, at which the organization will have to make the correct decision that meets the current conditions.

    Recall that the new OPEC+ agreements started in May with a reduction in oil production by 9.7 million barrels per day for three months. Since August, the alliance has continued to reduce production, but in a smaller volume – by 7.7 million barrels per day for the period until the end of the year, and then – by 5.8 million until the end of April 2022.
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  10. KostiaForexMart

    KostiaForexMart Senior Investor

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    November 5. Bank of England expands government bond buyback program to £ 875bn

    Today a meeting of the Bank of England was held, following which the regulator kept the base interest rate at 0.1%. It was also decided to increase the volume of the government bond buyback program from 745 billion pounds to 875 billion pounds.

    This decision was supported by all members of the Monetary Policy Committee (MPC). At the same time, the increase in the volume of purchases turned out to be even higher than the forecasts of analysts, who had expected its growth to 825 billion pounds.

    The Bank of England also released an updated quarterly forecast, according to which the UK economy by the end of the year will fall by 11%, rather than 9.5%, as suggested by the August forecast. The regulator stressed that the development of the situation with the coronavirus in the country will affect spending in the short term more than predicted.

    Household spending and GDP will start to grow in the first quarter of 2021 amid easing quarantine measures, the Bank of England predicts. At the same time, in January-March of next year, economic activity will be significantly lower compared to the fourth quarter of 2019. Also, the Central Bank expects British GDP growth in 2021 by 7.25% instead of 9% and by 6.25% in 2022 instead of 3.5%.
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