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Forex ForexMart's Forex News

Discussion in 'Forex Forum' started by Andrea ForexMart, Jan 18, 2018.

  1. PALM FXMart

    PALM FXMart Member

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    British Manufacturing Weaken as Export Orders Decline

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    UK manufacturers had a lackluster month after a couple of years while exports had an unusual downfall in August, and these serve as a warning for the potential economic decline as the Brexit issues also affects British factories, according to a survey.

    The IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) is down to its lowest level since July 2016 at 52.8 due to Brexit vote, while Reuters poll of economists showed a median estimate of 53.8.

    Moreover, the pound appears to be sluggish against its rivals dollar and euro after the published data, as experts also mentioned that the possible exit of the European Union in March 2019 without a finalized deal would likely reflect on the sentiment.

    Factory orders became unsteady in more than two years, which was greatly affected by the initial decrease in export orders since April 2016. The uncertainty in the British exit approximately in seven months supported the business confidence to reach a 22-month low.
     
  2. PALM FXMart

    PALM FXMart Member

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    Australian Economy Strengthen Due to High Consumer Spending

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    The resilient economy of Australia showed robust growth during the Apr-Jun quarter this year, along with the growing exports, consumer expenditure, and government spending, based on the official data issued on Wednesday.

    The Australian economy grew by 0.9 percent for the second quarter, after the 0.7 percent expansion in the first quarter, to take the annual growth rate to 3.4 percent. However, the quarterly reading was way far than the market forecasts of 2.8 percent, following the yearly reading of 3.1 percent on Q1. The increase had pushed the Australian currency to reach nearly half a cent to 72.17 US cents.

    Moreover, household spending escalated to 0.7 percent which added 0.4 percentage points of growth, as net exports contributed 0.1 percentage points. On the other hand, the government expenditure was up by 1.0 percent to extend its highest growth throughout the year.
     
  3. KostiaForexMart

    KostiaForexMart Member

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    08.11. Gold shows worst indicators in two years

    Gold prices continue to show the worst performance over the past two years, responding to positive news on the settlement of trade differences between the US and China. Today, gold futures for December delivery fell to $1,457.10 per troy ounce, plummeting from the $1,493 area. Such lows were the biggest loss since 2017.

    The pressure on the precious metal was exerted by news about the mutual abolition of US and Chinese duties. The elimination of duties is one of the main conditions for concluding the first stage of a trade deal. Success in negotiations supports the full range of risky assets, and gold, as a rule, moves in the opposite direction from risk.

    Additional pressure on gold was exerted by the news that the People's Bank of China, being a constant accumulator of gold bullion, was not able to replenish its reserves again in October.
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    Last edited: Nov 8, 2019
  4. KostiaForexMart

    KostiaForexMart Member

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    11.11. Oman believes non-OPEC will extend the deal to reduce oil production

    Oman’s energy minister Mohammed bin Hamad al-Rumhy said today, that OPEC and non-OPEC producers will probably extend a deal to limit crude supply, but the oil production will be kept at the current level (1.2 million barrels per day).

    The minister also noted, that oil demand was improving lately as trade tensions soften and that Oman was satisfied with current oil prices.

    The Organization of Petroleum Exporting Countries (OPEC), Russia and other allies have agreed since January to reduce oil production by 1.2 million barrels per day to maintain the market. Nowadays the experts see signs of improvement in the situation with balance of demand and supply in the oil market, fear of recession is getting lower, and optimistic signals about a trade agreement between the US and China make unnecessary the further reducing measures.
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  5. Stefan

    Stefan New Member

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    we have seen the biggest price of gold few months ago already
     
  6. KostiaForexMart

    KostiaForexMart Member

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    12.11. The world’s largest trade deal could be signed in 2020

    After more than 6 years of negotiations, a group of 15 Asia-Pacific countries is going to sign the the world’s largest trade agreement in 2020. The deal is called Regional Comprehensive Economic Partnership (RCEP) and it will involve all 10 countries from the Association of Southeast Asian Nations (ASEAN) bloc and five of its major trading partners: Australia, China, Japan, New Zealand and South Korea. The United States are not to be the joiner to the RCEP.

    Initially India planned to join the mega-deal, but later decided to abstain from participation in trade pact over concerns that it would hurt domestic producers.

    In any case, the 15 member-countries make up close to one-third of the world population and global gross domestic product.

    So, the uniting within the RCEP would boost trade throughout the group by reducing tariffs, standardizing customs rules and procedures and expanding market access, especially among countries that have not concluded trade agreements.
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  7. KostiaForexMart

    KostiaForexMart Member

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    13.11. The results of D. Trump’s speech at the Economic Club of New York

    Yesterday in a speech to the Economic Club of New York US President Donald Trump announced the «imminent» prospects of completing the first phase of the trade deal with China, but did not provide any new details about the talks.

    The president’s speech disappointed investors, as they awaited any important political statements to be made. But Trump didn’t announce the place and date of signing a trade deal with Chinese President Xi Jinping, as it was expected before. Instead of this American president threaten to «very substantially» raise tariffs on Chinese goods if China does not make a deal with the United States.

    Along with this Trump noted, that the US would only accept the deal if it served the interests of his country, American employees and companies.

    The biggest part of president’s speech was devoted to success of White House administration. Trump said his staff had worked hard to bolster the economy despite of «too many interest rate hikes by the Federal Reserve».
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