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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    22.11. European markets lost growth after weak PMI

    On Friday, European stock markets slowed earlier growth. It was caused by the publication of the weak preliminary business activity index (PMI) in the Eurozone, which didn’t show the visible improvement in the economy of the region, still weighed down by the trade conflict between the US and China.

    According to IHS Markit, in October, the composite business activity index in the European Union fell from 50.6 to 50.3, fell short of the expectations for an improvement to 50.9. Data from France and Germany showed that manufacturing PMIs were stronger than expected, but service sector activity slowed sharply.

    Christina Lagarde, the new president of the European Central Bank noted, that she was not intended to sharply change the monetary policies of her predecessor, Mario Draghi. And judging by the shares, banks are confident that in the near future easing of monetary policy will not happen.
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  2. KostiaForexMart

    KostiaForexMart Senior Investor

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    25.11. Former New York City Mayor Mike Bloomberg officially announces he's running for president

    The billionaire former mayor of New York City Michael Bloomberg officially announced on Sunday that he was running for president in 2020 as a Democrat.

    Earlier Michael Bloomberg, whose fortune is estimated at $45 billion, abandoned the idea of running in the presidential race after former US Vice President Joe Biden (who was seen by everyone as an unconditional leader) went to the polls. But in the last two months, Biden’s position has been shaken and Senator Elizabeth Warren, of extremely left-wing views, began to take the lead.

    But this was not long and soon Warren began to lose to the incumbent US president. This fact made Democrat-centrist Michael Bloomberg take the decision to return to the presidential race.

    The billionaire said: «The US cannot afford four more years of President Trump's reckless and unethical actions. He represents an existential threat to our country and our values. If he wins another term in office, we may never recover from the damage».

    So, on Sunday there appeared the first pre-election video of Michael Bloomberg started on television – he spent $34 million on this advertisement, which will be broadcast on the air for another week. It is noted, that Bloomberg is going to finance the campaign completely from his own funds and not accept donations.
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  3. KostiaForexMart

    KostiaForexMart Senior Investor

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    26.11. Oil gains on optimism in US-China trade talks

    According to trading data, world oil prices began to rise today amid optimism around the prospects for trade relations between the US and China. Additional support for oil quotes is provided by expectations of the OPEC+ meeting in early December. The current Brent oil price is $63.18 per barrel.

    Washington-Beijing trade relations continue to affect the oil market. Top US and Chinese trade negotiators held a phone call on Tuesday: Deputy Prime Minister He, the US Minister of Finance S. Mnuchin and the sales representative R. Lighthizer reached an agreement on many issues, including the cancellation of part of the tariffs. The optimism that the trade conflict will at least ease somewhat is currently preventing prices from falling.

    Traders are also waiting for news on the prospects of the OPEC+ deal. The OPEC and OPEC+ meetings will be held December 5-6 in Vienna. Last week, Russian Energy Minister A. Novak said it was too early to talk about extending the OPEC+ deal. At the same time, Reuters reported, citing sources, that OPEC+ could extend an agreement to reduce oil production immediately until June at a meeting in December.
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  4. KostiaForexMart

    KostiaForexMart Senior Investor

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    27.11. US GDP growth revised up to 2.1%

    According to the press release from the US Department of Commerce, the US economy grew at a 2.1% annual pace in the III quarter, which exceeded forecasts. Analysts expected to maintain the indicator at the level of the first estimate of 1.9%.

    In the first quarter of 2019, the American GDP growth in annual terms amounted to 3.1%, in the second – 2%. In the 2018 the figures were the following: in the first quarter the growth was 2.5%, in the second quarter – 3.5%, in the third – 2.9%, in the fourth – 1.1%.

    Economists believe that economic growth was caused by a stronger pace of inventory accumulation and a less steep decline in business investment.
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  5. KostiaForexMart

    KostiaForexMart Senior Investor

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    28.11. Bitcoin grows after drawdown the previous days

    After a drawdown amid the news about the hacking of the Upbit exchange, the price of bitcoin showed a sharp increase. The current cryptocurrency quote is $7,622. The total market capitalization surpassed the $200 billion mark, the dominance index rose to 66.6%.

    Earlier, the Bitcoin exchange rate crashed to the level of $6,553 after the South Korean cryptocurrency exchange Upbit confirmed the fact of hacking. Hackers stole 342 thousand ETH ($48.2 million) from a hot wallet. All assets, were transferred to cold wallets. The exchange intends to indemnify in full.

    Some observers are sure that an insider worked among the exchange’s employees, since the attack was carried out at the time the exchange moved funds.
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  6. KostiaForexMart

    KostiaForexMart Senior Investor

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    29.11. Eurozone inflation rises quicker than expected in November

    According to preliminary estimates of European statistical agency Eurostat, annual inflation in 19 countries of the Eurozone in November jumped to 1% from 0.7% in October. Analysts predicted acceleration of inflation to 0.9%.

    A year earlier, in November 2018, annual inflation in the eurozone was 1.9%. According to preliminary estimates, core inflation in November amounted to 1.3% against the level of October at 1.1%.

    The acceleration of inflation in the region was caused by a rise in food and services prices. Core inflation excluding food and energy prices picked up to 1.5% from 1.2% a month earlier, beating expectations for 1.3%. The inflation excluding alcohol and tobacco prices, accelerated to 1.3% from 1.1%, ahead of forecasts for 1.2%.
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  7. KostiaForexMart

    KostiaForexMart Senior Investor

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    02.02. China imposed sanctions against a number of US organizations

    According to a statement by representatives of the Ministry of Foreign Affairs of the People's Republic of China, the Chinese authorities imposed sanctions on US non-governmental organizations for «supporting extremist activities» in Hong Kong.

    The sanctions affected Human Rights Watch (HRW), the National Democratic Institute for International Affairs, and Freedom House. The Chinese authorities also decided to suspend the review of requests by US military ships and aircraft to visit Hong Kong.

    The MFA explained that the reason for the sanctions was the US-approved law on the protection of human rights and democracy in Hong Kong. China took this as a serious violation of international law and interference in the internal affairs of China.

    Recall that the protests in Hong Kong began in late March due to dissatisfaction of residents with the draft law on extradition to China. After the revocation of the bill the demonstrations did not stop. US President Donald Trump signed two bills in support of protesters in Hong Kong on November 27, despite Beijing’s repeated objections.
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  8. KostiaForexMart

    KostiaForexMart Senior Investor

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    03.12. Trump: The deal with China will have to wait until the 2020 elections

    U.S. President Donald Trump noted that he could postpone the signing of a trade agreement with China for an indefinite period, until the US presidential election in November 2020. Such news alarmed the markets, depriving hopes for a quick resolution of a trade dispute, that slows down the global economy.

    At a meeting with reporters, Trump said that he was ready to wait until the election. At the same time, the American president continues to insist that the deal should fully comply with the interests of the United States, otherwise it simply may not take place.

    Following Trump's comments, stock prices in Europe and the Chinese yuan fell to local lows.
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  9. KostiaForexMart

    KostiaForexMart Senior Investor

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    04.12. U.S. private sector job growth slows down sharply in November

    According to the press release from the analytical company Automatic Data Processing (ADP), U.S. private-sector employment increased only 67,000 in November.

    The gain was well below forecasts from economists who expected a gain of 156,000. It turned out to be the smallest gain since May. Prior to the ADP data, analysts expected Friday’s government report will show 189,000 jobs created in November up from 128,000 in the prior month.

    In the small business sector the number of jobs increased by 11 thousand, medium-sized companies with 50-499 employees increased their staff by 29 thousand, and large companies created 27 thousand new jobs.
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  10. KostiaForexMart

    KostiaForexMart Senior Investor

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    05.12. The number of filing applications for unemployment benefits in the US fell by 10 thousand

    According to the report of the US Department of Labor, the number of Americans filing applications for unemployment benefits unexpectedly fell last week ending November 30, hitting their lowest level in seven months. The indicator decreased by 10 thousand compared to the previous week and amounted to 203 thousand.

    The indicator of the previous week amounted to 213 thousand.

    Analysts had expected the number of initial applications to grow by 2 thousand compared to the previous week and will amount to 215 thousand.
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