Thread: Company News by ForexMart

March New Home Sales Surge by 5.8%

The new home sales data reading for March saw a drastic increase, clocking in at a 5.8% surge, an indication that the demand for new homes are now gaining momentum as the peak selling season commences. The March reading for new home sales data is the highest level since July 2016, wherein home sales data peaked its highest within a 9-year period. Economists are now anticipating that new home sales could possibly continue climbing up within the year as more buyers are now returning to the marketplace for starter homes.


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NAFTA Dangers Sends MXN Plunging

The Mexican Peso (MXN) is now about to record its lowest drop within a five-month period following reports that the Trump administration is planning to pull itself out from the NAFTA agreement. There are now reports that the White House is currently drafting an EO which will enable the said withdrawal and could be released either within the week or next week. This caused the Mexican Peso to crash by 2% against the USD, the currency’s largest daily drop since its previous drop against the CAD last November. A weak MXN could spell bad news for the US economy, since this will mean that Mexican exports will be more affordable as compared to US exports.


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The current contest has already started on May 1, 2017 and will end on May 5, 2017.

You can register for the next competition which will take place from May 8, 2017 to May 12, 2017.

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

Winners for the week of April 10 - April 14, 2017:

Rank 1:
Rurik14
Acct. No.:
1024331
City:
Naberezhnye Chelny

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Rank 2:
NM20
Acct. No.:
1024390
City:
Grimancelos

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Rank 3:
oleg001
Acct. No.:
1024181
City:
Kazan

==========

Rank 4:
Alex70109
Acct. No.:
1024288
City:
Borovaya Kharkovskoy oblasti

==========

Rank 5:
Sergey10766209
Acct. No.:
1024319
City:
Volosovo



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Greetings!


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Participants to the conference will get the chance to learn personal finance management from some of the world’s top financial experts, take part in workshops and seminars, which covers several aspects of trading from leading trading professionals. Guests will also be able to join raffles and win giveaways from event organizers.


In addition, ForexMart representatives will also be more than happy to inform attending clients to the ShowFx World Expo with regards to the latest developments within our company.


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See you at the Expo!


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Warmest regards,


ForexMart Team

RBA Maintained Current Rates Amid Wage Risks

The Reserve bank of Australia kept their rates unchanged for nine succeeding months on Tuesday which is not surprising following the risks of household debt, meek progress in inflation and wage. The RBA decided to maintained the rates at a rock-bottom of 1.5 percent after the decline in August and May last year while most economists have foreseen that will be sustained this week.

The central bank is sanguine in the economy but maintains a mixed labor market. Although the wages growth anticipated being sluggish for some time. The price inflation lingers above 2 percent in the previous quarter for the first since 2015 although the objective of the RBA is to keep inflation rates below 2 to 3 percent but higher than 3 percent in the next few years.
RBA Governor Philip Lowe mentioned that there is no need for further stimulus since the low cash rates have affected household debt which will not be favorable for the “national interest”.


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U.S Economy Probably Expand by 3% in Two Years, Says Mnuchin

According to Steven Mnuchin, U.S Treasury Secretary, the economic growth of the United States could possibly grow by 3 percent in two years upon implementing the restoration of the regulatory reform and tax system and offering better trade agreements.

The job market of U.S revived gaining 12 percent increase in the prices of stock considering the fact that the election of Trump coupled with the consumer sentiment reached the highest peak in 16 years have painted a positive illustration of the economy.

In spite of that, the economy improved on its weakest pace within three years acquiring 0.7 percent in Q1 as it highlighted the dispute that the government dealt with as it aims to attain an annual growth higher than 3 percent.

Moreover, the administration of Trump had established the overhauling of the tax rate system labeled as the largest revision in history, since this is on the top list of their legislative program.

The plan was already published previously, it further contains the proposal for trimmed taxes intended for the citizen and businesses, creating comprehensive filer system and prohibiting the rich from loopholes. The package is expected to be signed and put into law within the current year.

On the other hand, the International Monetary Fund have given its forecast that the world's largest national economy will bolster hitting 2.3 percent in 2017 while 2.5 percent for next year.


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Stronger Indian Rupee Provided Positive Impact to Masala Bonds

The Indian Rupee (INR) strengthened against the American dollar, while the masala bonds could take advantage with Indian firms who are looking to increase funds.

The masala bonds had a considerable growth even the latest fiscal together with the ICRA projected that the trend will persist particularly for firms without any natural hedge that could reduce risk from foreign currencies engaged in the external commercial borrowings (ECBs).

During the 2017 fiscal year, the rupee-linked bonds hold at t Rs 30,620 crore by which other country’s currency dropped to Rs 1,740 crore compared with the previous FY with Rs 2,440 crore.

According to Karthik Srinivasan, Senior VP of ICRA said: “With their cash flows denominated in Indian Rupees, many of the borrowers of ECBs don’t have a natural hedge against foreign currency risks inherent in that instrument."

Moreover, the national currency of India rose by more than 5% versus its U.S peer, this caused for theIR to be the top performer among its rivals.

The commercial banking company further anticipates an aggregate FII debt inflows worth $5-10 billion inclusive of RDBs amid FY18.


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As Unemployment Rate Drops, US Economy on its Way to Recovery

The US Labor Department has released its US job report for April, wherein it indicated that business had topped up a total of 211,000 jobs last month, a far cry from March’s reading of only 79,000 jobs. This upward trend in hires has confirmed market projections that the country’s overall economic growth is well on its way towards a significant recovery. Economists are now saying that this evidently very strong economic data for the country signals that consumers might soon have the power to amplify their spending habits during the second quarter of 2017.


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Oil Cut Production May Extend Beyond 2017, Says Minister of Saudi

Khalid Al-Falih, oil minister of Saudi Arabia showed confidence with regards to the deal to limit output for crude oil and the oversupply reduction is going to be extended within 6 months or more.

Al-Falih further discussed during the Asia Oil and Gas Conference held in Kuala Lumpur last Monday that the growth of U.S shale production together with the closure of refinery maintenance have lessened the effect of cutback led by the Organization of Petroleum Exporting Countries along its associates. Moreover, manufacturers are driven enough to achieve their target to drop in their bloated gasoline supplies. Nevertheless, he believes the world oil supply could still realign and revive its former healthy state.

The increasing U.S production place worries towards OPEC and its allies as it fails to minimize the market glut and expansion of prices.

The gains of oil were erased since the agreement made in the previous year to curb output. The OPEC meeting held in Vienna attended by various nations further supported the 6-month deal for the extension which will start in January. It would be the first time that the minister of Saudi to propose the extension beyond 2017.


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