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  #226  
Old 03-10-2017, 04:06 AM
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USD/CAD Tech

The U.S. dollar against the Canadian dollar broke in higher than the trading range on Thursday session as the trend surpassed the 1.35 handle. The price could further go up in the long-term as there is bit of extension. There could be reversals which is simply a withdrawal but this could trigger buying opportunities when oil prices continue to fall which would bring the price higher. It may be difficult to sell this pair with the current trend of greenback.


The pair climbed higher from 1.3009 to 1.3535 levels with the support levels found below. If pair maintained its current range, the pair could further go up towards the next target at 1.3600 region.
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  #227  
Old 03-10-2017, 04:39 AM
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March 10, 2017

Nigeria Launched Recovery Plan for Economic Growth

The government of Nigeria has introduced its master plan to take off the recession with hopes of reaching 7.0% increase after three years, however, experts deemed that the target seems high to hit. The detailed outline of the plan was released on Monday including the possible programme of the oil giant in Western Africa to recover from the worst economic depression in 25 years.

John Ashbourne, an economist at the consultancy Capital Economics, said that one of the main considerations written in the document is the African Development Bank and World Bank to lend some money to the country since these banks provide borrowing plans.

The objective of the recovery plan is to diversify the economy by utilizing major industries inclusive of agriculture and energy as well as expanding production for oil up to 2.5 million barrels a day (BPD). As of this writing, the production arrives at 1.9 million bpd. The administration further initiated extensive projects for infrastructure aiming to improve transport system throughout the entire nation. Part of the goal is to improve the Gross Domestic Product with a 4.6% average until the year 2020 as the forecasted growth is at 7.0%.

Moreover, the global prices for oil have seen declined following the cut in revenue due to the Nigerian economy dependence from crude products. The naira established a weaker position and triggered inflation to beef up by 20%.
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  #228  
Old 03-10-2017, 04:47 AM
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March 10, 2017

Next Visit of Vietnam’s PM to U.S. to Strengthen Ties

Prime Minister Nguyen Xuan Phuc aims to maintain its trading ties with the United States under the new administration while Vietnam likes to maintain U.S. being their leading partner. The prime minister’s next visit would strengthen ties between the two countries with Vietnam being the top potential beneficiary of the Trans-Pacific Partnership free trade agreement, known that Trump is against the continuation of this trade deal.


Their last official state meeting was in 2008 as he strengthened the security measure in problems regarding territorial claims with their neighboring country China. Their latest meetup was when both leaders attended the U.S.-ASEAN summit in February last year.
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  #229  
Old 03-10-2017, 04:59 AM
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March 10, 2017

South Korean President Park Geun-hye Impeached amid Corruption Probe

A South Korean court has unanimously ruled for South Korean president Park Geun-hye’s impeachment following a corruption probe which has led to possibly one of the largest political scandals in the country’s history. The ruling states that the now former president must immediately vacate her luxurious Blue House residence in Seoul and has rendered the former president literally powerless. The impeachment must also immediately be followed by a presidential election within 60 days, and as of the moment, key opposition figures are leading in the country’s polls.
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  #230  
Old 03-13-2017, 01:21 AM
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GBP/USD Fundamental Analysis: March 13, 2017

The GBP/USD pair traded rather dismally for the majority of last week’s sessions as the concerns on the UK economy and the sudden surge in the value of the USD has kept the sterling pound under constant pressure for the rest of the week. The strength of the USD has recently been subject to fluctuations, and while it ended the week on a stronger note compared to other major currencies, for the euro and the British pound, it was otherwise. The invocation of the Article 50 is drawing nearer, and this has also led to an increase in Brexit-related concerns and has also pushed the pair down towards 1.2200 points and so far it has been unable to recover from this particular region.

A lot of analysts have been saying that any bounce in the currency pair should be seen as a short trading opportunity, and since the sterling pound is not expected to make a full recovery anytime soon and with the USD gearing up for more medium-term advancements, the currency pair would most likely feel the impact of the pronounced weakness in the sterling pound.

For this week, the UK will be releasing its claimant count change data, earnings index, as well as a rate statement and a rate announcement from the Bank of England. On the other hand, the US will be releasing its retail sales data, its PPI data and CPI data, which are all expected to inject some volatility into the currency pair. But the spotlight for this week will mostly be directed to the FOMC rate announcement, where the central bank is expected to implement another interest rate hike, which will likely be followed by a hawkish statement from Fed officials. However, it has yet to be seen whether the bank’s statement would be hawkish enough for the bulls to push the pricing of the USD upwards. If this happens, then the GBP/USD pair could possibly test 1.2000 points in the near future.
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  #231  
Old 03-13-2017, 02:02 AM
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USD/CAD Fundamental Analysis: March 13, 2017

The USD/CAD pair consolidated for the most part of last week’s session after breaking out during the previous week. The USD/CAD pair moved towards the 1.3500 barrier, which is the barrier that the pair bulls have been constantly trying to break through during the several previous sessions, with the pair’s last attempt to surpass this region resulting to the pair retreating significantly back to 1.3000 points. The bulls have become increasingly cautious of this particular region and this is part of the reason why the bulls have resorted to ranging and consolidating at just under this range.

Both the US and the Canadian economy released a string of economic data during the latter part of last week, with both the numbers and employment rates coming out at a much better rate than expected. This has then increased the probability of a Fed rate hike within the week and confirmed the positive economic growth for Canada. As a result, the USD/CAD pair was not subject to any drastic changes since both currencies cancelled out the other’s projected positive effects on the pair and on the market.

For this week, the US will be releasing its retail sales data, as well as its PPI and CPI data, in addition to the much-awaited announcement from the FOMC, which will determine whether the central bank has decided to implement an interest rate hike or otherwise. However, since the Federal Reserve is pretty much expected to increase its interest rates and have a hawkish statement. As such, the USD could possibly weaken following the FOMC rate announcement, a move which should be closely guarded by the USD/CAD pair.
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  #232  
Old 03-13-2017, 02:46 AM
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USD/JPY Fundamental Analysis: March 13, 2017

The USD/JPY pair posted impressive gains during the previous week, with the majority of the past week’s gains being attributed to the possibility of a quarterly interest rate hike by the Federal Reserve for this year. However, as Friday’s session commenced, the currency pair retreated slightly after economic data coming from the US showed that the country’s economy might not be stable enough to implement another interest rate hike immediately this coming June. The USD/JPY pair finished off the previous trading week at 114/738 points after increasing by +0.65% or 0.744 points.

USD/JPY traders had initially believed that the March rate hike was pretty much in the bag, but the release of the NFP report last Friday has shed some doubts with regards to the timing of future interest rate hikes from the central bank. In addition, the average hourly earnings came in at 0.2%, falling short of the expected reading of 0.3%.

The USD/JPY could possibly retreat in value for this week as investors start adjusting to the weak NFP report, and the closing price of the currency pair would be likely determined by the monetary policy statement from the Fed this coming Wednesday. On Thursday, the Bank of Japan is expected to maintain its benchmark interest rates and could possibly cite references on the country’s present economic environment as well as other economic factors which might impact the central bank’s policy decision. The BoJ could also state that the increase in US interest rates might be good news for the Japanese economy as this could lend added pressure to the Japanese yen which could trigger a rise in exports demand.
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  #233  
Old 03-13-2017, 02:50 AM
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GBP/USD Technical Analysis: March 13, 2017

The expectations for Consumer Inflation and Industrial Production of Britain showed lower-than-expected results that further weighed on the British currency.

Moreover, the sterling stayed flat out on Friday. The major is trading in the middle points of 1.2200 and 1.2170 but failed to establish a short-term position.

The spot hovered under the moving averages and advanced lower as shown in the 4-hour chart. Resistance highlighted 1.2200, support is at 1.2100.

The MACD histogram increased which confirmed weak stance of the sellers. RSI came close to the oversold territory.

We expect two possible scenarios. When the GBP is oversold, the marks 1.2250 – 1.2300 will not be excluded in the correction. Also, if the sellers continued to be in control the major will keep on sliding. Having broken the 1.2150 region, the 1.2100 will recur within the range.
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  #234  
Old 03-13-2017, 05:47 AM
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March 13, 2017

Brexit Dissenter Kristin Forbes to Resign from BoE Post

Kristin Forbes, one of the most vocal dissenters in the Bank of England’s nine-member Monetary Policy Committee, has decided to leave the UK central bank for good. Prior to this particular announcement, Forbes was constantly being tagged as a possible candidate for positions in the Federal Reserve since the UK-based financial analyst is an American citizen. Forbes has been known in the financial industry for her “dives” into obscure topics which have caused the central bank to rethink its stances on various situations. Just recently, Forbes has again made headlines by blatantly opposing the Brexit referendum last year.
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  #235  
Old 03-13-2017, 06:04 AM
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March 13, 2017

Canada’s Partnership with Ivanhoe Cambridge and LOGOS to Invest in Indonesia and Singapore

The biggest pension fund managers in Canada settled an agreement with a real estate logistics operator, LOGOS and Ivanhoé Cambridge to have a venture with Asian countries Singapore and Indonesia.

This investment was constituted due to the increase of e-commerce together with the development of the middle-classes around the Southeast Asian market.

Based on the Reuters’ report, the Canada Pension Plan Investment Board (CPPIB) have its initial commitment worth US$200 million intended to achieve the 48% of LOGOS Singapore Logistics Venture (LSLV). Moreover, the Board is assumed to cater US$100 million for the LOGOS Indonesia Logistics Venture (LILV) for reaching 48% stake. The Canadian corporation mentioned that this partnership is considered as the primary step towards direct real estate investments within the two nations. Aside from the two aforementioned countries, LOGOS also have business in China and Australia.
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  #236  
Old 03-13-2017, 06:34 AM
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March 13, 2017

Ford’s Lincoln Aims to Manufacture SUVs in China

Lincoln automobiles under Ford Motors Co’s plans to advance its entry to China and was doing some analysis on whether to manufacture cars locally. It aims to produce luxury SUVs in China by late 2019 with a bigger target of 80 stores by the end of the year from the former figure of 60 compared to the previous year of 65 Lincoln chain stores.


This move is aligned with the goals of competing with U.S. and German rivals as part of the world’s biggest auto market hereby prompted to design a car models particularly SUVs, to match the Chinese preference. Currently, the Lincoln automobiles are imported to China which a boost in sales as high as 180 percent in the previous year.
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  #237  
Old 03-14-2017, 12:59 AM
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EUR/USD Fundamental Analysis: March 14, 2017

The EUR/USD pair merely floated around during the previous session with no definite direction as the market prepares itself for the onset of economic data which is expected to hit the US market this coming Wednesday. The FOMC meeting will commence on Wednesday, where the committee is expected to make the rate announcement as well as another statement, which would hopefully contain confirmation of the much-awaited interest rate hike. As of the moment, the EUR/USD pair is currently trading at just over 1.0650 points and is expected to exhibit more ranging and consolidation as the market awaits the rate statements from the FOMC tomorrow.

Draghi’s speech yesterday did not do much to improve the current stance of the EUR/USD pair and was unable to induce added volatility into the currency pair. As of the moment the euro is still being kept afloat by last week’s events, particularly Draghi’s statement that the EU is already well on its way to recovery with regards to accomplishing its fiscal and economic goals.

For today’s series of trading sessions, there are no major news releases from the EU while the US economy will be releasing its PPI data later today. But since the market is now focusing themselves on the release of the FOMC tomorrow, this particular piece of data is not expected to increase the pair’s volatility rates. The EUR/USD pair could be in for more ranging and consolidation as the day progresses.
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  #238  
Old 03-14-2017, 01:29 AM
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GBP/USD Fundamental Analysis: March 14, 2017

Although the UK economy saw a lot of events and developments during yesterday’s trading session, this has done practically nothing to induce added activity into the GBP/USD pair. A slight bounce occurred in the pair during the previous session but this was automatically met with a selloff, especially since the bounce was somewhat thin and was unable to hold on and prevent the said selloff from occurring. The GBP/USD pair has however managed to surpass 1.2200 points and even managed to reach 1.2250 following market rumors that Theresa May might not be invoking Article 50 within the week. However, since there was no actual confirmation that the invocation would indeed be happening this week, the market became initially confused on the British pound’s rally and the lack of basis to this particular assumption has caused this bounce to eventually die out.

In addition, there have been rumors swirling around that the British government might not accept Scotland’s request to hold an independence referendum, especially since the UK is already neck-deep in uncertainties and another referendum would only cause more disaster for the country’s economy. These series of events has caused the GBP/USD pair to retreat towards 1.2200, where it is currently trading.

For today’s trading session, there are no expected data releases from the UK economy, while the US economy will be releasing its PPI data. However, all eyes will be on the FOMC rate announcement which is set to be released tomorrow. This, in addition to the impending invocation of Article 50, are both expected to keep the GBP/USD pair under pressure in the short term.
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  #239  
Old 03-14-2017, 05:54 AM
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March 14, 2017

Argentine Labor Unions Protested Government Job Cuts

The Argentine Interior Minister, Rogelio Frigerio announced that the labor unions in Argentina put pressure on its government by initiating strikes and marches in advance of the mid-term elections of the country.

Mauricio Macri, 58, have been the country’s President for 15 months who pronounced its commitment to enliven the economy by taking back investor’s trust after 10 years of practicing

free-spending populist policies.

A hoard of laborers protested on March 7 expressing objection regarding job cuts and wages not adjusted for inflation which attained approximately 40 percent last year. Major labor organization has demonstrated its strikes over the previous weeks.
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  #240  
Old 03-14-2017, 06:00 AM
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March 14, 2017

Turkey’s Dispute with Netherlands Called Off its Diplomatic Ties

Turkey plans to put off diplomatic ties with the Netherlands as announced by the Dutch ambassador on Monday, escalating dispute between both countries. This was triggered after the Netherlands refused to permit Turkish Foreign Minister, Mevlüt Çavuşoğlu, to participate in the political rallies of emigrants.


Moreover, there is a tendency for the Deputy Prime Minister, Numan Kurtulmuş, to re-assess its agreement with the European Union and put on hold the migrants from Turkish territory to Europe. Kurtulmuş noted that their actions are in response to how they were treated. The Dutch government was compared to the Nazis by the Turkish President, Recep Tayyip Erdoğan, which was responded by the Dutch Prime Minister Mark Rutte to be offensive and demands an apology.
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