Forex Forex News by ForexMart

China’s Economy Slowed Down in the Second Quarter


The economy of China could possibly weaken once again in the second quarter of 2017, slowed down by the slight tightening of the monetary policy of the government polled by China economists, Nikkei and Nikkei Quick News.


Most of the respondents mentioned that the property market failed to advance unlike before and pointed out that the economic decline will become more evident from July to the end of December.


As indicated in the survey, the average estimate of the economists for the gross domestic product of China will rose by 6.8% in Q2 this year, with marginal easing from the expansion on first quarter at 6.9%. The official figures are scheduled to be release on July 17.

 

The current Money Fall contest has already started on July 10, 2017 and will end on July 14, 2017.


You can register for the next competition which will take place from July 17, 2017 to July 21, 2017


Note:

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

 

Eco Watchers’ Index of Japan Increased Forecasts


The business confidence index, associated with workers whose jobs are delicate towards the economic situation of Japan, had increased in June for three months in a row. This is because of the advancement in the retail sale as shown in the government statistics on Monday.


The diffusion index of sentiment regarding the present economic conditions which is so-called “economy watchers,” including restaurant employees and taxi drivers, gained 1.4 points from May reaching 50.0, as stated by the Cabinet Office. The administration added that these figures were the highest recorded since December.


While the leading economic indicators in the approaching months surged and reached 50.5, higher by 0.9 points. The government was able to maintain its initial assessment for the second time around, claiming that the economy had continuously improved.

 

EU Leaders Urge Germany to Increase Expenditure


The economic leaders of the European Union held a meeting on Monday in Brussels, citing that euro countries with huge growth to heighten spending. This is an attempt to convince Germany to step up its public expenditure and to bolster its economic bloc.


Germany is anticipated to grow by 1.8 percent this 2017, as indicated in the estimate of the International Monetary Fund, while the trade surplus continued to rise.


The stable development of the German economy was linked with the same advancement in government expenditure with a 0.8 percent record on fiscal surplus in 2016.


A group of finance ministers was going to discuss at their monthly meeting about the fiscal stance of the EU in 2018 since some urged to influence the budgetary decisions of the 19 EU-member states.


The effort of the European Commission to make a slight development on fiscal policy for the entire euro area within this year was fulfilled by the German opposition, however, dropped afterward.


Prior the discussion on the 2018 policy, the Economics Commissioner Pierre Moscovici claimed that the logical basis of fiscal stimulus remains despite firm growth in the euro area.

 

Italy’s Industrial Output Rose by 0.7 pc in May


The industrial production of Italy had rebounded in May which gives hints that the growth of the economy till the end of the year may result to an equal or could even jump higher to the pace recorded during the first quarter.


The production rose by 0.7 percent since April after it dropped on the adjusted 0.5 percent as presented by the Rome-based statistics agency, Istat on Tuesday. While the median estimate of Bloomberg with 21 analysts who answered the survey showed a 0.5 percent increase. The industrial output gained 2.8 percent two months ago according to the yearly and compensation adjustment.


The upward revision on GDP during the Q1 in 2017 boosts confidence that the third-biggest economy of the euro area will improve.


The manufacturing index surge in an unexpected way during the month of June, hence, the consumers become more optimistic despite the unemployment rate escalated to 11.3 percent shown in the recently released labor-market data.


Istat further mentioned in a separate report that their main indicator reflects a “positive outlook for economic activity in the next months”.


Moreover, the International Monetary Fund increased its economic outlook for Italy in 2017 which is 1.3 percent versus the earlier forecast of 0.8 percent. The organization added that they anticipate a slight growth of 1 percent from 2018 up to 2020.

 

Singapore GDP Rose 0.4% in Q2 Obviated from recession


The economy of Singapore rose for the second quarter as it narrowly missed the recession as the engineering industries remained strong with high demand for semiconductor manufacturing equipment. The economy rose to 0.4 percent in the second quarter compared to the previous quarter and based on seasonally adjusted basis according to the Ministry of Trade and Industry.


It dropped to 1.9 percent in Q1 following the first revision in the first quarter and further declined to the former assumption of a 1.3 percent contraction. Despite the median forecast poll in Q2 declined by 1.1 percent, it is still on track to the overall forecast for the city-state progress.


The Gross Domestic Product rose 2.5 percent in the second quarter compared last year which was kept the same even after revisions and lower than the 2.8 percent growth. An economist described this as “softer than expected” since the construction has been weak and a slight easing from the manufacturing sector could offset services. At the same time, analysts are skeptical on the country’s sustained growth being electronic dependent and expansion of services may countervail any moderation.

 

Japan’s Economic Assessment in Moderate Recovery


The Japanese government maintains its basic evaluation on domestic economy indicated in the monthly report for July, which will be released on Wednesday.


According to the Cabinet office, the economy of Japan is in a moderate recovery. In the previous month, the government increased its entire outlook for the first time after six months, underlining the advancement in business investment and private spending.


Nobuteru Ishihara, Economic and Fiscal Policy Minister, submitted the latest report to the economy’s ministerial meeting.


As indicated in the July report, the administration revised its content on producer prices assessment for the first time in 22 weeks, stating that the growth has recently slowed down. As the producer prices are said to be “rising moderately.”


Changes slightly caused a delay on the price increase in petroleum products because of the halt in price hike of crude oil, said by an official from the Cabinet Office.


Moreover, the government keep on hold its valuation on other sectors. While the household expenditure also rose moderately together with exports and capital investments.


The report further mentioned that the economy is projected to recover with an improved income growth and employment in the short-term.

 

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South Korea Growth Outlook Revised to 3 Percent in 2017


The growth forecast of South Korea for 2017 was changed on Tuesday pledged to maintain an expansionary fiscal policy that would boost employment. The projected data is an expansion of 3 percent which is already the quickest since the 3.3 percent three years ago. The latest was revised was higher from the previous 2.6 percent and the Bank of Korea outlook of 2.8 percent.


The rise in global demand of goods supporting growth in the latter six months of the year has progressed which includes fiscal spending worth 11 trillion won ($9.85 billion) as the additional budget on July 22nd. There is high hopes that this would raise growth by 0.2 percent this year as the country’s potential growth rate of 3 percent which seems possible as the government implements reforms towards “consumption-led growth” according to the finance minister.

 

Positive German Business Confidence as Economy Strengthen


German firms are preparing for a bountiful period on the back of a slackening summer season.


Business climate of the Germany boosted for the sixth month in July, claimed by the Ifo Institute. According to the poll, which includes 7,000 companies under the construction, manufacturing and trade sector around Europe’s biggest economy, the index increased to 116.0 which is adjusted from 115.2 last month. This was the highest level recorded for almost 26 years, compared with the Bloomberg’s median estimate showing a decline to 114.9.


The euro moved higher following the issued data and continued to trade at $1.1660 at 10:24 a.m. Frankfurt time.


Ebullient sentiment shows that the economy of Germany had performed strongly earlier this year and bound to run over until the second half.


The continuous decline in unemployment had supported the domestic demand as the Bundesbank projected that the “lively” demand for exports will lead the manufacturing as a major growth driver.


Clemens Fuest, Ifo President, said that “Sentiment among German businesses is euphoric”, citing that the German economy will stimulate ahead.


Moreover, the country moved at a fast pace in a year during the Q1 while the International Monetary Fund is confident enough towards the nation’s growth outlook after upgrading its forecast for 2018 in the past months.


The organization further mentioned that the development for 2017 is 1.8 percent and 1.6 percent in 2018, bolstered by the strong domestic demand and stabilized international trade.


The Ifo gauges the present economic situation will gain 125.4 from the adjusted 124.2 and the measures of confidence will expand to 107.3 from 106.8.


The GDP figures for the month of April to June is going to release on August 15.

 

Winners for the week July 10 to July 14, 2017.

Contest Prizes:


1st Place - 300 USD

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3rd Place - 75 USD

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7th Place - 55 USD

8th Place - 50 USD

9th Place - 45 USD

10th Place - 40 USD

 

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UK Shortage of Workers Amid High Number of Jobs


In spite of the rising wages, it seems complicated for the employers of the United Kingdom to recruit employees as the availability of candidates attempts to cope up with the demand, based on the latest research released on Tuesday.


A report from the Recruitment & Employment Confederation together with Markit showed that staff appointments reached its highest level in the past two years.


The official numbers of employment issued by the Office of National Statistics in July, indicates the Britain’s jobless rate decline on its lowest pace since 1975, however, this slightly push wages up.


Meanwhile, the opening for permanent workers was reduced lower compared with the past months as the reduction rates for temporary laborers fell at its fastest pace in the past 18 months, according to the research of Recruitment & Employment Confederation (REC).


As shown in the poll, the Britain’s decision to leave the European Union caused some citizens from the euro region to depart which makes it harder to carry out required jobs.

 

The current Money Fall contest has already started on August 14, 2017 and will end on August 18, 2017.


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Japanese Trade Surplus Decline in July as Exports Rise


The merchandise trade surplus in Japan reduced lower than the anticipated in July while the growth of exports and imports gained double-digit percentage. According to the Ministry of Finance, the trade balance came in at ¥418.8 billion ($3.8 billion) last month, after the ¥439.9 billion surplus in June. The country was able to maintain its trade surplus in five of the last six months.


Exports rose at annual rate of 13.4% in the previous month, after a 9.7% increase in June. On one side, imports grew by 16.3 earlier this year, next to 15.5% expansion a month before.


Tokyo reported that the trade surplus last month accounts to ¥337.4 billion ($3.07 billion) based on a seasonally adjusted basis, as the surplus prior that month is ¥81.4 billion ($740.6 million), according to the official figures released.


The Japanese economy showed its highest level of economic growth in more than two years, despite the external demand decrease the GDP by 0.3 percentage point. This is considered significant as the economy tend to depend on exports to resume expansion. Japan’s economy increased by 1% versus the previous quarter and surge by 4% yearly. The development occurs every last six quarters which indicates the longest duration after 10 years. Moreover, exports from the world’s third largest economy are projected to continue its rise due to the momentum attained by the global economy. As imports also have the potential to boost because the domestic production mounted.

 

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Economic Calendar for August 25, 2017, Friday


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Fastest Growth of US Economy During the Second Quarter


During the January-March quarter where US President D. Trump was already in the position, America’s economy was able to grow by 3% based on the updated estimates issued by the administration on Wednesday. This is the strongest growth recorded since Q1 of 2015 which doubled the pace of the first three months 2017, it also provided a much accurate estimate for the Q2. While the government gauged that second quarter growth will gain 2.6% in July, initially. The economic momentum was influenced by robust consumer expenditure and stronger business investments. President Trump pledged during his campaign for a 4% growth, but later on reduced this to 3%.


Moreover, the White House aims to improve the slow recovery from the general economic decline by lowering down taxes, cutting deregulation while increasing infrastructure expenditure. Until now, the economic agenda of Trump still unable to settle in the Congress


Nevertheless, the American economy seems to be healthy, mainly on employment. Hiring for private employers was increased in August with 237,000 additional laborers, based on the ADP assessment released on Wednesday.

 

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This week’s most popular deal:




Risk Warning: Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result to substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge and understand the risks relative to forex trading. Seek financial advice, if necessary.