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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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    27.01. Experts: China's GDP growth in I quarter may slow down below 6% due to the outbreak of pneumonia

    Experts note that due to the outbreak of pneumonia in China, the growth rate of the Chinese economy may slow down below 6% in the first quarter of 2020. The risk of a slowdown in GDP growth is observed amid the expected fall in consumer spending due to the current situation in the country.

    The Chinese authorities in the past couple of years have relied on the development of the consumer sector, hoping that it will become the main engine of economic recovery. However, in the context of the rapidly spreading epidemic of the deadly virus, Chinese people refrain from visiting shops and public places.

    Many key segments of the service sector, such as theaters, museums, and exhibitions that can attract many customers during the New Year's Eve on the Lunar calendar, have almost stopped working. In addition, in many cities, local authorities decided to suspend the operation of urban and suburban transport.

    «The PRC’s economy had difficulties even before the outbreak of pneumonia, and such a large-scale crisis in the healthcare sector poses a threat of a more significant weakening of growth,» said economist Chen Gong. The expert believes that the current epidemic may cost China more than 40 billion yuan ($5.77 billion), which will take away about 1 percentage point from the country's GDP growth in 2020.
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  2. KostiaForexMart

    KostiaForexMart Senior Investor

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    28.01. OPEC wants to extend production cuts until June due to virus in China

    OPEC representatives said the organization is ready to extend the current decline in oil production until June, if the spread of the new coronavirus significantly affects the demand for oil in China. At the same time, the possibility of increasing the volume of production reduction is considered.

    The sharp drop in oil prices observed recently worries OPEC officials. Representatives of many participating countries have already begun to consider their own options for resolving the situation and have intensified their internal discussion of how best to respond to falling prices.

    At the same time, experts predict a longer extension of measures to reduce global oil production. The possibility of extending the agreement until the end of 2020 is not excluded.
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  3. KostiaForexMart

    KostiaForexMart Senior Investor

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    29.01. Germany raises 2020 growth forecast slightly to 1.1%

    The German government raised its forecast for GDP growth for 2020 and promised to create all conditions for the influx of investments into the country in order to maintain the competitiveness of Europe’s largest economy.

    According to the forecast, this year German GDP growth will amount to 1.1%. Such expectations coincided with forecasts of the International Monetary Fund, presented last week.

    It is noted that last year, the German economy grew by only 0.6%, at the lowest rate since 2013. Experts note a significant slowdown in the country's economic development compared to a 1.5% rise in 2018. The reason for this was a slowdown in the global economy, trade tensions and uncertainty regarding Brexit.

    Germany predicts high consumer spending and export growth, while trade is still a serious risk due to the potential imposition of U.S. duties on European cars. The German government also outlined a spending plan that would allocate more than €160 billion by 2023 in the areas of digital infrastructure and transport.
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  4. KostiaForexMart

    KostiaForexMart Senior Investor

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    30.01. Interest rates left at 0.75% amid signs of rebound for UK economy

    Today, the Bank of England held a meeting, at which left rates unchanged at 0.75%. Representatives of the Central Bank noted that there is no need for additional incentive measures, as the British economy began to show signs of accelerating growth. At the same time, two out of nine Bank of England officials, Michael Saunders and Jonathan Haskell, again voted to lower rates.

    The regulator also said that it was ready for changes in monetary policy after the departure of Central Bank head Mark Carney in March. His place will be taken by Andrew Bailey, head of the Office of Financial Regulation and Supervision.

    If the British economy continues to show a visible acceleration of growth, it may require «some modest tightening» of monetary policy, said the representatives of the Bank of England.
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  5. KostiaForexMart

    KostiaForexMart Senior Investor

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    31.01. Annual inflation in the Euro zone accelerated to 1.4 in January%

    According to the European statistical Agency Eurostat, annual inflation in the 19 countries of the Eurozone in January, according to a preliminary estimate, accelerated to 1.4% from the level of 1.3% in December. The indicator coincided with the forecasts of analysts polled by Reuters.

    A year earlier, in January 2019, annual inflation in the Eurozone was also 1.4%.

    Core inflation in January, according to preliminary estimates, was 1.1% compared to 1.3% in December. Analysts were expecting a reading of 1.2%.
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  6. KostiaForexMart

    KostiaForexMart Senior Investor

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    03.02. The index of business activity in the manufacturing sector in Germany in January amounted to 45.3

    According to the final data of the research organization IHS Markit, the index of business activity in the manufacturing sector of Germany (PMI Manufacturing) in January amounted to 45.3 points. Preliminary data were noted at the level of 45.2 points. Experts expected both indicators to match.

    The index of purchasing managers in the manufacturing sector of the eurozone's largest economy rose from the December level of 43.7, reaching the highest level in 11 months.

    The manufacturing PMI of all 19 eurozone countries in January showed growth from 46.3 to 47.9, peaking since April 2019.
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  7. KostiaForexMart

    KostiaForexMart Senior Investor

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    04.02. Boris Johnson does not want to accept EU standards

    The sterling lost more than 1% after British Prime Minister Boris Johnson said he would not accept EU standards as the price for securing a free trade deal.

    Britain officially left the EU on Friday, January 31, but it has yet to agree on the details of new relations with the European Union. Both sides stated what they want from a future trade deal, but the positions were so far apart, that economists do not exclude the possibility of a sharp break in relations at the end of the year.

    The UK is currently in a transition period during which EU law and regulations still apply to the entire country, and the UK government can trade with other countries. During this period, London also seeks to develop new trade agreements with Brussels. Its absence will lead to higher costs for British and European exporters.

    Boris Johnson said yesterday that Britain wants to conclude a free trade agreement with the EU, similar to the 2016 Canadian agreement. However, representatives of the European Union noted that the parties do not have enough time to agree on a similar deal.
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  8. KostiaForexMart

    KostiaForexMart Senior Investor

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    05.02. Retail sales in the eurozone in December fell 1.6%, worse than forecast

    According to the European statistical agency Eurostat, retail sales in the eurozone in December fell by 1.6% compared with November. Analysts had expected a decline of 0.9% month-on-month.

    On an annualized basis, retail sales in the eurozone in December increased by 1.3%, although analysts had expected growth of 2.4%.

    In all EU countries, retail sales in December decreased by 1.3% compared with November, and year-on-year – increased by 1.9%.

    The largest annual sales growth in December was recorded in Hungary (+ 6.1%), Romania (+ 8.5%), as well as in Malta (+ 5.9%). The decrease was recorded in Slovakia (-2.5%), Slovenia (-6.6%) and Finland (-1.6%).
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  9. KostiaForexMart

    KostiaForexMart Senior Investor

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    07.02. The number of applications for unemployment benefits in the US fell to a minimum since April

    According to the U.S. Department of Labor, the number of Americans applying for unemployment benefits for the first time fell by 15 thousand to 202 thousand. This has become the lowest level since mid-April 2019.

    A week earlier, according to revised data, the number of applications was 217 thousand, and not 216 thousand, as previously reported.

    Analysts surveyed by Bloomberg predicted predicted a decrease in the indicator by 1 thousand, to 215 thousand.

    The number of Americans continuing to receive unemployment benefits for the week increased by 48 thousand, to 1.751 million. Last week, a similar indicator was recorded at the mark around 1.703 million.
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  10. KostiaForexMart

    KostiaForexMart Senior Investor

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    10.02. Gold rises in price, the market estimates the economic damage from the coronavirus

    Today, Gold quotes rose to a week maximum, reaching $ 1,580 per troy ounce. The precious metal is getting more expensive as rising concerns about the effects of Chinese coronavirus have increased the attractiveness of defensive assets.

    The number of coronavirus victims on Sunday increased by 97 and exceeded 900 people. Thus, more people have already died from the new virus than from SARS almost two decades ago.

    Gold also gained support as the dollar moved away from a four-month high versus a basket of major currencies.
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