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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    November 9. OPEC+ deal parameters may be changed more than expected

    The head of the Ministry of Energy of Saudi Arabia, Prince Abdel Aziz bin Salman, at the oil industry conference ADIPEC-2020, said that OPEC+ could adjust the parameters of the deal to reduce oil production even more significantly than analysts believe.

    The politician stressed that in conditions of weak demand for oil, the organization can not only keep the production cut at 7.7 million barrels per day (or more), but also extend the deal until the end of 2022.

    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 to a lesser extent – by 7.7 million barrels per day for the period until the end of the year. Further, it is expected to decrease by 5.8 million barrels per day until the end of April 2022.
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  2. KostiaForexMart

    KostiaForexMart Senior Investor

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    November 12. The number of applications for unemployment benefits in the United States fell

    According to the US Department of Labor, the number of Americans who filed initial applications for state unemployment benefits last week fell more than expected to 709 thousand. At the same time, the figure remains at a level that raises concerns about a slowdown in the labor market recovery by background of the resumption of coronavirus diseases.

    Analysts had expected the number of applications to drop to 735,000. The previous figures were revised to 757 thousand. The number of secondary applications fell to 6.786 million, which is also slightly below the forecast.

    Experts note that the number of initial filings is still close to the lowest level since late March, when the first wave of layoffs related to the epidemic hit the US economy. At the same time, the indicator still exceeds the level of applications before the start of the pandemic by more than three times.

    The total number of Americans receiving unemployment benefits in the United States for the week ended October 31 fell by 436 thousand from the revised figure of the previous week to 6.786 million.
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  3. KostiaForexMart

    KostiaForexMart Senior Investor

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    November 11. OPEC downgrades forecast for fall in global oil demand in 2020

    The Organization of the Petroleum Exporting Countries (OPEC) has once again lowered its forecast for global oil demand in 2020. Now experts are expecting its reduction by 9.75 million barrels per day to last year's level – up to 90.01 million barrels per day. The previous forecast assumed a decrease in demand in 2020 by 9.47 million barrels per day – to 90.29 million barrels per day.

    The outlook was lowered amid rising incidence of Covid-19 in the US and Europe, leading to new restrictive measures.

    The forecast for 2021 assumes that demand will grow by 6.25 million barrels per day – up to 96.26 million barrels. Previously, the organization was expecting an increase in demand next year by 6.54 million barrels per day – up to 96.84 million barrels.

    OPEC did not provide a forecast for its own oil production in 2020, but noted that in October, production of 13 cartel member countries increased by 0.32 million barrels per day compared to September – to 24.39 million barrels per day. Most of the growth was in Libya, Iraq and Nigeria.
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  4. KostiaForexMart

    KostiaForexMart Senior Investor

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    November 16. Asia created the world's largest trading block

    Fifteen countries in the Asia-Pacific region on Sunday formed the world's largest free trade bloc without the participation of the United States, but with the support of China. The new alliance was named the Regional Comprehensive Economic Partnership (RCEP).

    It is noted that the countries of the new trading bloc account for 30% of world GDP and almost a third of the world's population, and their total market is 2.2 billion consumers. The RWEP brought together the 10-member Association of Southeast Asian Nations (ASEAN), as well as China, Japan, South Korea, Australia and New Zealand.

    The RWEP could strengthen China's position in relations with Southeast Asia, Japan and Korea, as well as provide the world's second largest economy with leverage to shape the rules of trade in the region. In addition, the new partnership will help China reduce its reliance on foreign markets and technology, which is growing due to deteriorating relations with the United States.
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  5. KostiaForexMart

    KostiaForexMart Senior Investor

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    November 18. Gold prices drop on news of coronavirus vaccine

    Gold price is recovering weakly after a daily decline to $1,866.10 per troy ounce. The current gold quote is $1.883.05.

    The pressure on the precious metal is exerted by the news around the coronavirus vaccine. Investors give preference to the acquisition of risky assets, which has a negative impact on the value of gold as a «safe haven asset». Market participants look forward to a return to normal life in the near future and expect further easing of monetary policy in many countries.

    It was announced today that the Pfizer and BioNTech vaccine has achieved a final 95% efficacy, and Pfizer will submit it for regulatory approval in the United States in the coming days.

    At the same time, the American company Moderna said that the results of the third phase of trials of the coronavirus vaccine showed its effectiveness at 94.5%.
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  6. KostiaForexMart

    KostiaForexMart Senior Investor

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    November 23. Experts predict Europe «long years of pain»

    Analyzing the current state of affairs in Europe, experts note that the growth of corporate debts risks turning the region into long «years of pandemic pain».

    Analysts are confident that after the crisis support from the state ends, there will be a risk of a wave of defaults and bankruptcies, which will hit the banking sector and further exacerbate the economic downturn.

    Debt burden can hinder investment and job creation for years to come. In the first half of this year, eurozone companies borrowed more than 400 billion euros, compared with 289 billion euros for the whole of 2019.

    The European Commission has warned that debt servicing could be challenging, especially in the sectors hardest hit by the coronavirus pandemic. Experts note that paying off the debt accumulated during the pandemic is the second largest problem for business.
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  7. KostiaForexMart

    KostiaForexMart Senior Investor

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    November 25. US jobless claims unexpectedly rose over the week

    According to the US Department of Labor, the number of initial applications for unemployment benefits for the week ended November 21, increased by 30 thousand compared with the revised figure of the previous week to 778 thousand applications.

    Analysts had expected a decline of 12 thousand applications from the initial figure last week – to 730 thousand. The initial figure of the previous week was revised to 748 thousand from 742 thousand.

    The total number of Americans receiving unemployment benefits in the United States fell by 299 thousand from the revised figure of the previous week to 6.071 million.
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  8. KostiaForexMart

    KostiaForexMart Senior Investor

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    November 30. US exchanges are falling as part of the correction after a prolonged rise

    Major US stock indices are declining on Monday in a correction, while remaining on track for their highest monthly gain since April.

    The Dow Jones Industrial Average fell 0.93% to 29,633.02 points, the NASDAQ high-tech companies index – 0.05%, to 12,205.85 points, the S&P 500 broad market index – 0.59%, to 3,616.91 pips.

    The main factor influencing investor sentiment was news about vaccines. Since early November, Pfizer, Moderna and AstraZeneca have reported successful trials of their vaccine samples with high efficacy. In addition, the positive dynamics in the US markets in November was also caused by a decrease in political uncertainty after the presidential elections.
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  9. KostiaForexMart

    KostiaForexMart Senior Investor

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    December 02. Visa will issue the world's first cashback credit card in bitcoins

    Visa is partnering with cryptocurrency startup BlockFi to release the world's first cashback credit card in bitcoins. The card will be issued by Evolve Bank with the assistance of credit card startup Deserve.

    1.5% will be returned from each card transaction. Cashback will be accumulated, then automatically converted into bitcoins and credited to your BlockFi account.

    In addition to the credit limit with a specific interest-free period, BlockFi will give customers a welcome bonus of $250 in bitcoins if the amount spent on the card exceeds $3000 in the first three months.

    The card will be metallic, similar to the Apple card that the company has jointly released with Goldman Sachs. Annual maintenance for a new VISA credit card will cost $200. The card will initially only be available in the US.
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  10. Lisa Maria

    Lisa Maria Senior Investor

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    Education is a must thing for forex trading. A trader should complete his education before starting his trade. Otherwise it can be dangerous. He can loss all his capital because of little knowledge. To complete his education there is only one better way and this is to open a demo account. It will help the trader to know all the important techniques easily. When I was new, I also opened a demo account of Tpglobalfx to take the education of forex. They helped me to understand the forex. For their easy trading policy and easy learning method, I am still trading with them.
     

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