Thread: Company News by ForexMart

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World Economy Could Receive Boost from Tax Cuts, Says World Bank

The World Bank has stated that Trump’s proposed tax cuts and other spending policies could possibly help in boosting the global economy in spite of the concerns surrounding his proposed trading policies. The international development lender further added that the incoming administration could possibly endanger the recent gains caused by various economic stimuli once it implements the setting up of certain trading boundaries which could trigger counter-policies from neighboring countries such as Canada and the UK.

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China Exports Dropped in December

According to the official data released on Friday, the exports of world’s second biggest economy worsen trader’s expectation in December since the global trade kept its weak stance unchanged, while the imports growth were reduced.

Moreover, the exports for the month declined by 6.1 percent on-year in terms of dollar-denominated circumstances. Compared with the previous month of 0.1 percent hike as per report from Reuters on Friday cited in the official stats as well.

Last year, imports rose by 3.1 percent versus 6.7 percent increase in November. Whereas, the trade balance on December reached $40.82 billion against $44.61 billion for the past month.
However, economist polled by Reuters assessed the exports will lose 3.5 percent, imports will rise 2.4 percent and the monthly trade balance will arrive at $46.50 billion.

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The current Money Fall contest has already started on January 16, 2017 and will end on January 20, 2017.

You can register for the next competition which will take place from January 23, 2017 to January 27, 2017

Note:
Registration for the next competition finishes 1 hour before the contest starts.

Oil Prices Amp Up as the Dollar Weakens

Oil prices edged higher as the dollar weaken and the expectations about Organization of the Petroleum Exporting Countries (OPEC) en masse with other producers will reduce its output since it's part of the deal in curbing the worldwide overproduction.

According to traders the prices appears to be buoyant due to the sluggish stance of greens which made fuel cost cheaper for countries that utilize foreign currencies

The oil further accumulated support from the issued reduction for crude production which includes major producers in Russia.

OPEC also mentioned that they would cut down the quantity they produced with 1.2 million barrels each day to 32.5 million bpd starting 1st of January. However, there are assumptions that the Austria-based company will not totally execute the declared cutback whereas the agreement of 50 to 80 percent are adequate to support petroleum purchase.

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Economic Assessment Shows A Moderate Growth of Japan’s Economy

The Bank of Japan economic assessment shows a positive outlook in its quarterly report on Monday. Three out of nine regions saying giving a moderate economic recovery while other regions stay the same because of higher private consumption and increase in demand from Emerging Asian countries. On the other hand, retails sales increased in November with the tightening of the labor market as wages rises as well.

This the first time after seven quarters passed with BOJ raising its assessment for different regions implying that the country is in its way to recovery at a moderate pace. It is anticipated by the analysts that the central bank will delay its planned stimulus in the next months as the economy moves having an optimistic future for the country.

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Chinese Government’s Countermeasure for Decline in Home Prices

Residential property in Guangzhou climbed by 0.7 percent in December according to the report from Bureau of Statistics’ data. It is the only city who opposed the deflation program of residential properties in China.

Twenty local and provincial officials have seeked out counter measures to control loans and restrict second-home buyers to lessen the risk of elevated prices that may lead into dire repercussions. When this countermeasure has been implemented home prices from first and second tier cities steadied implying a positive change for the economy. As for the city of Beijing, he pledged that the prices of new homes will be kept unchanged for this year.

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India’s Demonetization Impacts the Economy

India presented consecutive growth for less than 7 percent in the past three-quarters during December 2012 and June 2013 based on the statement from an India economist at Soc Generale, Kunal Kumar Kundu.

SocGen also mentioned the fiscal growth rate of the country for 2017 is 6.6 percent versus the previous result of 7.3 percent. The bank further expects for a 7.2 percent, lesser than the earlier prediction of 7.7 percent, for the fiscal year 2018 which will end on March 2019.
India laid out its demonetization program since November with more than 50 days from now, causing an 86% impact on the currency circulation within the country. The 500 ($7.35) and 1,000 ($14.70) rupees were replaced with 500 and 2,000 rupee notes.

The Jakarta-based investment firm reviewed the research from All India Manufacturers' Organization (AIMO), which showed that there are 35% job losses within the small scale and micro industries and suffered 50% decline in the revenue, 34 days after the demonetization program is set forth. However, in March 2017, the figures will likely drop into 60% in employment while 55% reduction in revenue as stated by AIMO, it’s because these sectors are highly dependent on cash transactions.

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Pound Surges, USD Plummets After Trump, May Comments

The sterling pound finally increased in value after a long slump after UK PM Theresa May outlined her plans for the hard Brexit process, therefore clearing up some of the Brexit-related confusions and placating investors. Meanwhile, US president-elect Donald Trump has recently commented on the strength of the dollar, saying that the USD’s current value might be “too strong” for the US economy to handle. This has then prompted USD investors to vacate the dollar and move to riskier assets such as stock markets and has caused the dollar to drop in value.

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Positive Year for NZ’s Manufacturing Sector

The assessment for the Business PMI of New Zealand remained unchanged in January which is 54.5. An index of more than 50 would denote a business expansion while a figure below 50 indicates a contracting economy. The PMI provided an advanced outlook pertaining to the economic activities of NZ manufacturing sector.

The positive PMI of the country is caused by the increase in construction, specifically in Auckland which is the region’s major financial centre. The architectural volume is predicted to surge in the near-term since the increase in population coupled with high demand continuously support the sector’s actions. The total production cost of NZ’s gross domestic product (GDP) is close to 12%. This industry positively contributed to the economic growth of Q3 including business services, construction, household consumption and transport. The economy beef up by 1.1% from the month of July until September, based on the report of Wellington’s statistics bureau the previous month.