Economic News by ForexMart

[Luis ForexMart]

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Mexican Peso Clinches Six-Week Steady Increase after US Presidential Debate
While most major currencies exhibited restricted reactions to the results of the US Presidential Debate, the Mexican Peso (MXN) saw a steadier increase following the third and last debate before the elections take place. The MXN increased significantly, going up to 18.4555 MXN=D2 at a certain point, clinching its highest value reached since September 8. The MXN closed the last trading session at 18.4760. The Mexican Peso is one of the most closely monitored currencies now since Mexico is viewed by the market in general as the most vulnerable with regards to Republican nominee Donald Trump’s policy proposals.

 

[Luis ForexMart]

#ForexMart #EconomicNews
Ex-NATO chief: United States as the world’s policemen
Former Secretary General of NATO, Anders Fogh Rasmussen said on an interview with the CNBC that the United States needs to get involve to major global affairs regardless who'll receive the victory for this year’s presidential candidacy.
Rasmussen added that, he wanted to see who among to Clinton or Trump would speak about the further improvement of the international trade along with the economic growth concerns. He also aspire the future president to have plans in opposing the Russian President, Vladimir Putin.
Principally, the Danish politician prefer a candidate who will greatly give importance to the genuine "American global leadership" amid the growing uncertainty within the world affairs.

 

[Luis ForexMart]

#ForexMart #EconomicNews
High Risks of breach in Credit Card holders in India
Banks in India warned its customers the possibility of breach in credit cards. Around 2.6 million are Visa and MasterCard users and 600,000 are through domestic RuPay platform with a total of 3.2 million debit cards with chances of breach in security. The State bank of India had already blocked some of their customers. Other banks involved are State Bank of India, HDFC Bank , ICICI Bank, Yes Bank and Axis Bank.
Yes Bank had already announced that have not found a proof of breach but for precautionary measures, the Bank of India will replace some cards to prevent circumstantial risks. Although some banks have not responded with this concern.

 

[Luis ForexMart]

US Treasuries Whipsaw as FOMC Minutes Shifts Focus on USD and Fiscal Policies
US Treasuries careened between losses and gains after the minutes from the FOMC meeting last December showed that majority of the Federal Reserve’s officials have shifted their focus on slowing down the frequency of interest rate hikes. The minutes also revealed that various risks from the central bank’s fiscal policies is seen as a catalyst for speedier economic growth. The minutes of the FOMC showed a docile hawkishness but lacked any dovishness in its stance.

 

[Luis ForexMart]

Inflation rate in the Eurozone Rack Up
The inflation rate in the European region had increased, reaching its highest pace after three years. The surge is driven by the price hike for alcohol and tobacco, energy and food.
Based on the report from the Eurostat, the inflation percentage for December gained 1.1% which is notably higher from November’s result of 0.6%.
The highest rate occurred last 2013 in the month of September by which the result is also 1.1%. The final outcome is higher-than-expected which made the ECB’s target less than 2%.
The energy prices surge by 2.5% yearly, while the value of food and intoxicants grew by 1.2% year over year. Moreover, the energy costs rose due to OPEC’s resolution to decrease the production output.
The sharp jump lessened the fears of Europe regarding the possible deflation which could weakened the eurozone’s economic growth. Meanwhile, other core prices compelled by world markets had a limited rise from 0.8% to 0.9% only, this little progress would mean that the December’s inflation is “short-lived” according to analysts.

 

[Luis ForexMart]

Countermeasures of China to Curb Yuan in 2017
Yuan rallied this year especially the offshore trading and China is creating its contingency plan to curb the capital outflows for 2017. The offshore yuan climbed 0.9 percent to 6.8958 against U.S. dollar which is the highest increment since January 2016.
This plan was thought to counter recovering U.S. dollar while country’s capital outflow increases. Moreover, the ongoing threat from changes in U.S. policies regarding exports under Trump’s presidency. China might also sell U.S. Treasuries this year if necessary to secure the currency. This is predicted to expand the supply for foreign exchange within the onshore market and in return would support yuan in the short term.

 

[Syazfirul Enterprise]

Japan Exports Rallied for 5 Months
Mon May 22, 2017
watermarkEconomic news

Exports from Japan notably increased for five consecutive months indicating a strong offshore demand and increased shipments of semiconductors and steels that boost economic growth. In April, exports climbed up to 7.5 percent compared with the previous year and lower than the median estimate of 7.8 percent yearly growth.

On the other hand, its trade surplus with the U.S. also decreased by 4.2 percent from a year ago while the exports jumped by 2.6 percent and continuously grows in the past three months because of a high volume of car and auto parts shipments. An economist predicts that this upsurge will continue including domestic imports but the protectionist trade policies of Donald Trump raises concerns with Japan being an export-reliant country.

https://www.forexmart.com/my/economic-news/article/685

 

[Syazfirul Enterprise]

Drop in Oil prices Discontented Investors in its Low Figure
Fri May 26, 2017
watermarkEconomic news

Oil prices declined by 5 percent following the extension of production cuts by Opec causing other oil producing countries to be dismayed who are expecting a bigger reduction. Consequently, crude prices dropped to the highest percentage drop since early March.

During the last OPEC meeting, they reached an agreement to prolong supply cuts constitute of 1.8 million barrels per day until the first quarter ends next year and investors are anticipating around half a million extra barrels to be contracted. However, Saudi Arabia’s energy minister, Khalid Al-Falih said that other ministers find it unnecessary to lessen the output further and nine months is the “optimum” duration.

On the other hand, U.S. shale producers are motivated to provide more supplies because of the cheap cost of oil at $50 bpd. Although, they have to be careful since it could exceed the target increase and bring down further the price, stated by the Texas shale oil producer president David Arrington.

https://www.forexmart.com/my/economic-news/article/709

 

[Syazfirul Enterprise]

Fast track Economic Recovery of India in the First Quarter
Mon May 29, 2017
watermarkEconomic news

The economy of India is considered as the fastest developing major economy globally in the previous quarter, induced by positive performance in manufacturing and services. For short-term, the demonetization has affected the demand but was able to recover. The forecast for this year ranged between 6.5 and 7.8 while the actual data achieved a 7.1 percent growth from January to March this year. It has significantly risen from last year’s Q1 growth of 7.9 percent.

The upswing in the economic growth was mainly pushed by positive domestic factors taking into account a notable progress of the central bank easing of policy rate into lending rates of financial institutions that made investment appealing to investors. Moreover, the infrastructure spending has substantiated growth and probability for better agricultural output when the monsoon rains become beneficial.

On the other hand, the goods and sales tax (GST) is also anticipated to contribute to the economy as its removal will encourage more businesses in India. This will be implemented on July 1st.

https://www.forexmart.com/my/economic-news/article/714

 

[Syazfirul Enterprise]

Vietnamese Prime Minister to Sign Deal Worth $17B with America
Wed May 31, 2017
watermarkEconomic news

A trade deal between the United States and Vietnam worth $15 billion of goods and services will be signed during the visit of Vietnamese Prime Minister Nguyen Xuan Phuc during his next meeting on Wednesday in Washington D.C. This is centered on latest technology products and services which will importantly raise imports of such products to the from the U.S.

The bilateral trade deficit of Vietnam with the U.S. has widened from $7 billion reaching almost $32 billion in the past 10 years. Also, this shows rising imports of electronic products besides the traditional business sectors such as footwear, clothing, and furniture. It poses a problem for the country while they remain optimistic that this can still be amended and enhance their trade relationship, according to Lighthizer as the U.S. Trade Representative. They promised to lessen the gap in figures with their principal trading partners.

Sumber : https://www.forexmart.com/my/economic-news/article/727

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