Thread: Company News by ForexMart

The current Money Fall contest has already started on June 12, 2017 and will end on June 16, 2017.

You can register for the next competition which will take place fromJune 19, 2017 to June 23, 2017
Note:
Registration for the next competition finishes 1 hour before the contest starts.


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Italy and Qatar to Continue Economic Ties
Countries, Italy and Qatar decided to maintain their deal regarding close integration on economy and finances. Even the decision of some Arab Countries along with Saudi Arabia and the United Arab Emirates is to break diplomatic, travel and trade agreement with Qatar. The consensus was succeeded by a meeting between Italian Economy Minister Pier Carlo Padoan and Qatari Finance Minister Ali Sherif Al-Emadi held in Rome on Monday. The two countries said in a joint statement that they discussed the ties in a very friendly atmosphere in accordance with its outstanding relationships on economics and politics The visit of Al-Emadi in Italy is part of the leader’s European tours, hence he will also go to Berlin, London, Paris, and Washington. The sovereign states of Arab which include Saudi and UAE ended its agreement with Qatar in the past week, they believe that Doha supports the finances of Iran together with other Islamist groups, but Doha refuted this accusation. While al-Elmadia stated earlier on Monday that his country is able to protect its economy against these charges. In an interview with CNBC, he further mentioned that those countries that inflicted such sanction have the tendency to lose money due to the damage it wrought in the business sector of the region. "A lot of people think we're the only ones to lose in this ... If we're going to lose a dollar, they will lose a dollar also," the leader added.

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Job Creation in Australia Reached 42,000, Unemployment Rate Slowdown by 5.5% in May
Australia created additional jobs with a total of 42,000 which exceeded the expectations of 10,000 as indicated in the roughly calculated poll led by Reuters, disclosed by the Australian Bureau of Statistics on Thursday. However, the number of unemployed for this month accounts to 5.5 percent which came in lesser than predicted 5.7 percent.

The Aussie dollar further gained strength after releasing the current employment data of the Australian economy at exactly 9:30 HK/SIN while the exchange rate against its American counterpart is greater by 0.5 percent.

The employment figures appeared to be volatile but the rate in the past few months showed some development within the labor sector, said by Steven Milch, the chief economist of Suncorp. Mr. Milch also mentioned that the number remained stable for the third consecutive month and much stronger than their anticipated figures.

In case that the trend will continue, it will also increase the wages which could reinforce the reflection of the RBA towards the economy as a “half empty glass”. This shows that the Reserve Bank of Australia is not probable to revise its policy anytime.

The central bank announced that earlier this June the labour market indicators will remain mixed, keeping its benchmark cash rate on hold at a record low of 1.5 percent. The financial institution also noted that the slackening of real income will curtail the growth in household spending.


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US Stocks Plunge after Brent Crash
The majority of US stock prices crashed on the back of an ever-worsening bout of slump on both industrial and oil shares, eclipsing recent price rallies caused by growth in biotech and aviation technology companies. Brent crude prices dropped to just under $45 per barrel and is now at par with WTI in terms of living with a highly bearish market as US stockpiles continue to be above average and Libya resumes its production. The US dollar also subsequently dropped in value while US Treasury yields did not exhibit any major changes after it was able to regain its losses.


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Sluggish Growth Prediction for Developed Countries

A U.S. central banker forewarned that advanced economies and financial institutions in the United States will face a slower economic growth for long-term unless fiscal officials do something to counter this. Although, this comes surprisingly since the Federal Reserve just increased its interest rates earlier this month and intend to do more rate hikes gradually to prevent overheating of the economy. This also indicates positive growth of the economic outlook.

Federal Reserve president John Williams said that this optimism will only last for short-term and will change over time. With the sluggish growth, this gives a hard time for monetary policymakers to curb inflation and sustain full employment. This leaves the central bank with no choice but to rate hike since low growth trims the demand for investment and further push down the interest rates.


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IMF Cuts Growth Forecast for US Economy

The International Monetary Fund watered down its economic outlook for the United States due to the high level of risk regarding the plans of current president Donald Trump in boosting growth in the economy. According to their forecast, U.S will gain an annual rate of 2.1 percent for this year which is a positive increase compared with 1.6 percent recorded in 2016, however, it is comparatively lower to 2.3 percent estimate on April.

The Washington-based organization also cut its forecast for 2018 saying that the country will have a hard time in reaching the 3 percent target determined in the first budget of the president. The latest growth numbers are part of the annual review made by the IMF to the American economy which is released on June 27. Report says the forecast was trimmed down because it was clearly stated that various parts regarding the expenditure project and administration tax are still ambivalent.

With these concerns, the institution said that the final decision is made in order to abate any assumptions concerning the programs of Trump will get the Congress approval and rather to work with predictions that ongoing policies will remain consistent.

Based on IMF’s projections, the yearly GDP growth is 2.1 percent for 2017 and 2018 and this will decrease by 1.9 percent by 2019 while in the year 2020 it will only reach 1.8 percent.


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Japanese Tank Report Reached a Three-year High in June
The Japanese Tankan report manifested a positive data as big manufacturers sentiment has exceeded expectations with the index reaching a three-year high. The Big Manufacturers Index came in better-than-expected up by +17 compared to the +15 forecast of Reuters. It increased up to +12 from the poll collected in March. Meanwhile, it is anticipated to reach +15 for the month of September which is higher than the +14 prediction. This index is being monitored closely as it is part of policy making based on a survey of Japanese businesses.

Other sectors also have shown good progress and large manufacturers in particular shown more prominent growth. The BOJ increased its economic analysis as the GDP forecast grew by 1.6 percent for the 2017-2018 fiscal year from 1.5 percent forecasted in January. However, the core consumer price index (CPI) rose to 1.4 percent from 1.5percent in the same duration.
Overall, the BOJ remains firm in improving inflation and will proceed with a dovish stance until the target 2 percent inflation has been exceeded in a steady pace.

The current Money Fall contest has already started on July 3, 2017 and will end on July 7, 2017.
You can register for the next competition which will take place from July 10, 2017 to July 14, 2017
Note:
Registration for the next competition finishes 1 hour before the contest starts.