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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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    11.02. UK economy showed zero growth in the IV quarter

    The UK economy showed zero growth in the last quarter of 2019. According to preliminary data from the National Statistical Office (ONS), GDP in October-December did not change compared to the previous quarter. In December, economic growth accelerated by 0.3%.

    In annual terms, UK GDP in the IV quarter grew by 1.1%, at the lowest rate since the beginning of 2018.

    Consumer spending in the country grew by only 0.1%, at the lowest rate since the end of 2015. Investment in business fell by 1%, which was the maximum decline since the end of 2016.

    Manufacturing output fell 1.1% from the previous three months. Service growth slowed to 0.1%.

    At the end of 2019, the UK's GDP increased by 1.4% compared with a rise of 1.3% in 2018.

    The Bank of England predicts that in 2020 the UK economy will grow by only 0.8%, at the lowest rate since the financial crisis. In 2021 growth will accelerate to 1.5%, according to the Central Bank.
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  2. KostiaForexMart

    KostiaForexMart Senior Investor

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    12.02. China maintains its goal of GDP growth despite coronavirus exposure

    Deputy head of the PRC Academy of Social Sciences Cai Fan said that China will be able to achieve its long-term goal of doubling GDP and income this year, despite the consequences of the outbreak of Coronavirus. The epidemic will have only a short-term effect on the country's economy, after which demand will recover quickly, Chinese officials think.

    The economist also noted that the impact of a virus outbreak will slightly reduce growth and other development indicators, but these consequences will not be long-term. According to him, the growth rate of about 5.7% this year will be sufficient to achieve the goal of doubling GDP and income.

    Cai also added that the Chinese authorities should use policy tools in a timely and flexible manner, as well as apply «non-traditional policy tools» to support the economy.

    It was previously noted that the outbreak of coronavirus in 2020 could reduce China's economic growth by 1 percentage point.
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  3. KostiaForexMart

    KostiaForexMart Senior Investor

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    13.02. US annual inflation accelerates to 2.5% in January

    According to the US Labor Department, consumer prices in the US in January rose 2.5% year on year, and on a monthly basis inflation was 0.1%. Experts expected consumer price growth to accelerate by 2.4% and 0.2%, respectively.

    In December, inflation amounted to 0.2% in monthly terms and 2.3% in annual terms.

    Core inflation in the United States (excluding food and energy prices) in January year on year amounted to 2.3%. Analysts had expected the indicator to be fixed at 2.2%. On a monthly basis, prices rose by 0.2%, which coincided with experts' forecasts.

    US food prices in January in monthly terms rose by 0.5%, while energy prices fell by 0.7%. In annual terms, food prices rose by 1.8%, and energy – by 12.1%.
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  4. KostiaForexMart

    KostiaForexMart Senior Investor

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    14.02. US industrial production in January fell by 0.3%

    According to the US Federal Reserve, the volume of industrial production in the United States in January decreased by 0.3% compared to the previous month. Analysts polled by Reuters expected a 0.2% drop.

    The value for December was revised: the decrease in industrial production in the country in the reporting month is estimated at 0.4% in monthly terms against the previous estimate of 0.3%.

    The US industrial production index is one of the key indicators of the economy, reflecting the physical volume of products manufactured by American companies.
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  5. KostiaForexMart

    KostiaForexMart Senior Investor

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    17.02. Japan's GDP in the IV quarter fell at the fastest rate since 2014

    In the fourth quarter of 2019, Japan's GDP fell by 6.3% year on year after increasing the consumption tax in the country. Such rates of decline became the highest over the past 5.5 years. The fall in GDP was noted for the first time since the third quarter of 2018.

    Analysts had expected the Japanese economy to decline in the fourth quarter by only 3.7%. In the third quarter, according to revised data, Japan's GDP grew by 0.5%, and not by 1.8%, as previously reported.

    Analysts also fear that the country's economy may contract in January-March 2020 against the backdrop of the spread of the Chinese coronavirus. A fall in GDP over two consecutive quarters will mean a technical recession.
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  6. KostiaForexMart

    KostiaForexMart Senior Investor

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    18.02. Apple shares fell on Tuesday

    Stock prices of the American company Apple Inc are reduced today by 3.6% during preliminary trading. Even earlier, the stock drop exceeded 4%. The Nasdaq stock index, which calculates the company's securities, fell 0.9%.

    The fall was caused by a warning from Apple that the company's revenue in the second fiscal quarter (ending March 30) would not reach the previously announced values due to an outbreak of coronavirus in China. As you know, all Apple's manufacturing facilities are located outside of Hubei Province, which is the epicenter of the disease, and all of them have already resumed work.

    However, the recovery is slower than planned, which has led to a temporary restriction in the supply of iPhone smartphones worldwide. At the end of January, the company gave a forecast in which it estimated revenue in the current quarter at $63-67 billion with the resumption of production by February 10.
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  7. KostiaForexMart

    KostiaForexMart Senior Investor

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    19.02. UK annual inflation accelerates to 1.8% in January

    According to the Office of National Statistics (ONS), inflation in Great Britain accelerated in January to 1.8% from 1.3% in December in annual terms, and in monthly terms, deflation was fixed at 0.3% against zero inflation a month earlier.

    Analysts predicted that annual inflation would be 1.6%, and in monthly terms, experts expected a deflation of 0.4%.

    The CPIH index (inflation, taking into account the costs of homeowners on housing maintenance) for the reporting month was 1.8% in annual terms against 1.4% a month earlier. In monthly terms, a deflation of 0.2% was recorded against zero dynamics in December.
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  8. KostiaForexMart

    KostiaForexMart Senior Investor

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    02.20. Gold has risen to a high in 7 years

    Gold prices rose to a maximum in 7 years due to fears that an outbreak of coronavirus will slow down global growth, as well as amid rumors that the US Federal Reserve will cut the interest rate by the end of the year.

    At the auction on February 20, the price per troy ounce of gold amounted to $1,621.45 – a similar price of gold was fixed at the beginning of 2013.

    Although the number of new cases of coronavirus infection is declining, signs of deepening economic damage from the epidemic continue to put pressure on markets. Moreover, two deaths were recorded in Iran, which indicates the active spread of the disease outside of China.

    The minutes of the last meeting of the US Federal Reserve showed that the regulator can leave rates unchanged for several months of 2020, but traders predict at least one decrease in 2020.
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  9. KostiaForexMart

    KostiaForexMart Senior Investor

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    02.21. The ECB expects the completion of the coronavirus epidemic will lead to a significant revival of the eurozone economy

    Philip Lane, chief economist at the European Central Bank (ECB), said that the spread of the coronavirus Covid-19 is the central agenda for the Central Bank and carries downward risks for its economic outlook until the epidemic is brought under control.

    At the same time, the ECB expects that the end of the epidemic will lead to a significant revival of the eurozone economy, and in the foreseeable future we should not expect «dramatic» consequences.

    The regulator also noted that the ECB has room to maneuver in terms of increasing monetary stimulus and is ready to lower key interest rates if necessary.
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  10. KostiaForexMart

    KostiaForexMart Senior Investor

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    25.02. Italy has become the epicenter of the spread of Chinese coronavirus

    Italy warned the EU that it could require substantial assistance if the unexpected spread of coronavirus in the country's industrial regions would have serious negative consequences for the economy.

    On Monday, it became known about 8 cases of death from a coronavirus in Italy, the number of people infected in the country rose to 231. Most cases of infection were recorded in the northern regions of the country, which together account for about a third of Italy's GDP and about half of Italian exports.

    Schools and universities have already been closed in these regions, and mass events, including the Venice Carnival, have been suspended.

    Italian Deputy Economy Minister Laura Castelli said that the EU needs to be prepared to come to Italy’s rescue if the country faces an economic shock as a result of the effects of coronavirus. Analysts suggest that the economic consequences of the spread of coronavirus can be significant. According to estimates of the Bank of Italy, the epidemic factor will subtract 0.2 percentage points from the country's GDP growth rate in 2020.
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