IMF Cut Growth Forecast for US Economy

The International Monetary Fund downgraded its growth outlook for the United States due to concerns regarding Trump’s capacity to carry out his promises to the economy to stir the American economy.

Although the Washington-based organization provided a positive forecast in April, they had trim it down to 2.1 percent for this year and based on earlier projections for 2018, the US economy will gain 2.3 and 2.5 percent growth.

While the global growth was held at 3.5 percent in 2017 and 3.6 percent for the next year according to the prediction of IMF managing director Christine Lagarde and described it as "quite well anchored".

However, based on the World Economic Update, the IMF mentioned about the uncertainty towards the policies of President Donald Trump since it is a major factor in the leery growth projections for the US.

Pres. Donald Trump got the presidential position six months ago, citing his plans about tax reductions, looser regulation and major infrastructure spending which triggered a rally on Wall Street. But the policies were stalled in the US Congress as the government continues to battle over other issues, like health care reform.

Japan Household Spending Grew 2.3% in June

Japan’s household expenditure in the previous month accelerated most in 2015 since the available jobs heightened to its fresh 43-year highs. This shows that as the labour market tightens, it helps push wages and consumer spending up in a gradual pace.

Last week, the BOJ retained its monetary policy, however, pushed back again to reach its price goal, underlining the gap between the weak inflation and steady growth. And further emphasized that it may take some time to scale down its massive stimulus.   

The Japanese economy grew at an annualized 1.0 percent earlier this year, indicating a consecutive growth for the fifth time on strong exports and expansion in personal consumption.
According to analysts, the domestic demand is the main driver for a sustained growth in net exports but would probably reduce growth in GDP for the second quarter.

The positive signs for household consumption consist of 60 percent of the economy and gained 2.3 percent in the year until June, that jumped for the first time after 16 months and acquired the largest annual gain in August 2015. While the median estimate of the economists is 0.6 percent which is further based on the polled data of Reuters by the Ministry of Internal Affairs and Communications issued on Friday.

Moreover, the retail sales gained 2.1 percent in the year to June as shown in another set of data.

Winners for the week July 10 to July 14, 2017.
Contest Prizes:

1st Place - 300 USD
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9th Place - 45 USD
10th Place - 40 USD

Oil Price Up Amid High U.S. Demand and OPEC Supplies

Oil prices increased on Thursday because of the narrowing of the U.S. market as well as the large supply from OPEC producers that have a greater impact in the overall sentiment. The benchmark for Brent crude increased by 20 cents per barrel at $52.56 while the U.S. light crude up by 20 cents at $49.79. A high demand in the U.S. has pushed the price higher. Statistically, the recorded gasoline demand was 9.84 million barrels per day (bpd) for last week and a decline in commercial crude inventories worth 1.5 million barrels to 481.9 million barrels which is much lower than the barrels recorded last year.

Members of OPEC  and other producers such as Russia pledged to limit the output by 1.8 million bpd until March next year to support price and lower inventories. Yet the organization reached a record high of 33 million since July which is higher by 90,000 bpd from the previous month according to the Reuters survey.

It seems that the oil industry in this era has become accustomed to low prices and function in levels that would have been impossible before as reflected in the field.

ForexMart Won as Best Forex Newcomer 2016

ForexMart was recognized as the best young company of 2016 year in the field of financial markets activity according to the business publication Global Business Outlook, having won a new award in the nomination "Best Forex Newcomer 2016".

Global Business Outlook Awards – the annual international award which recognizes and rewards businesses, both private and public, showing impressive innovations and progressive strategies in business activity at various economic industries. The new award, received by ForexMart, proves the high professionalism level of its specialists and quality of the offered services.  And surely it reflects the highest degree of customer confidence. The award «Best Forex Newcomer 2016» from the authoritative British edition is a great distinction in a highly competitive market.

ForexMart President Ildar Sharipov is thankful for the award commenting:
«We are proud of getting this important and significant award and very thankful to our clients  for their firm trust. This new award is a symbol of ForexMart’s excellent service that brings clients the complacency and security they need in the volatile forex exchange market. We always aim to provide our clients with the most advanced technologies for successful trade, without forgetting about safety and comfort of our interaction. We are planning to develop our services further, helping traders and partners to remain at the top of financial success».

ForexMart continues to make progress, creating and improving optimum, convenient and safe conditions for trade. Receiving of this award – is a significant achievement, indicating that ForexMart and its clients are on the right path - the path to success!

U.S. Job Openings Soared to 6.2 Million in June

There are about 6.2 million jobs available in the U.S. as companies are searching for new employees. The number of job openings rose to 417,000 for private sector while there are 44,000 postings for government vacancies including state and local government as stated by the Job Openings and Labor Turnover Survey (JOLTS) from the Labor department. Since April 2015,  the jobs data has started to rise during the recession as it moves over the years.

Although, the job vacancies varies for every industry. In particular, those job opening includes education and health-services related industry, and professional and business services which have significantly increased in openings compared before the recession.

The report implies the stagnant hiring situation despite a surge in job openings. This has been happening for years and has risen fastly while the actual hiring has been flat since 2014.

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.

The current Money Fall contest has already started on August 21, 2017 and will end on August 25, 2017.

You can register for the next competition which will take place from August 28, 2017 to September 1, 2017

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

Economic Calendar for August 25, 2017, Friday

Know what will happen next in the financial markets with ForexMart's Forex Economic Calendar.

ForexMart's Forex Economic Calendar is a real-time, customizable, and multifunctional, forex tool that allows traders to be updated with the latest and most relevant market events. All information that could be potentially impact your trading will be listed and analyzed here.

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Brazilian Economy Increased nearly in Q2

The economic growth of Brazil slightly slowed down in the second quarter, as polled by Reuters’ economist on Tuesday. Despite the increase in consumer expenditure that indicates recovery from the depression 100 years ago. While the GDP of the country would likely pick up to 0.1 percent in the quarter from the first three months of 2017 in the rear of seasonal adjustments, as shown in the median forecast made by 34 analysts.

According to projections, the quarterly drop ranges from 0.3 percent to 0.7 percent growth, linked with the prediction of Banco Santander which is a highly accurate GDP forecaster, but growth is not expected at all. The survey underlined both the possible blow and feasible support for policymakers and investors upon the publication of data on Thursday 9 AM (1200 GMT)

Moreover, the GDP of the largest economy in Latin America declined by 8 percent amid Q4 in 2014. The end of the fiscal year 2016 is the greatest recession for the country since the last recorded in 1901. Inflation was initially seen to escalate but slumped to its lowest level in eight years with a faster pace than anticipated. This influenced policy makers to trim their target for annual inflation. The central bank of Brazil also cut their interest rates by 500 basis points since October by which eventually held some impact as stated by economists.

ForexMart App is Now Available on Mobile

You can now use the ForexMart application on mobile.

We are launching ForexMart application on 11 january. It can be downloaded from both App store for Apple and Play Store for Android users. This allows users to trade anytime and anywhere at their own convenience by just connecting to an Internet service provider.

More and more consumers are shifting toward mobile platforms with continuous improvement in technology. Forex trading apps simplifies trading and allows accessibility through mobile phone that makes it more convenient. There is still wide range of options in placing orders from mobile devices such as iPhone or Android.

ForexMart app offers different features. Traders can access multiple charts that give real-time quotes as well as relevant economic news and latest forex analysis. Exchange rates over 100 different currencies are also available with buy and sell options. The application is especially designed for forex trading that is easy to navigate and works glitch-free for more efficient trading.

Forex traders will find this app very useful and handy. Check out this new app from your App Store  or Play Store!

Economic Upturn of Euro Benefited the British Manufacturers

Reports in the British factories shows huge volume of book orders which are triggered by the sluggish pound after the Brexit referendum plus the robust economy of the euro zone.

According to the survey on business expectations for Q3 in 2017, shows an increase of 34% in output among companies polled by business advisory firms, BDO and EEF which are the manufacturers' body. It presented an expansion from 26% in the past three months.

Based on the report, order books further reached record levels due to higher demand levels from overseas. As 47% of the companies deemed that EU exports grew during the third quarter compared in 2016. Meanwhile, the demand from Asia and the United States also helps negate the relative weaknesses in the UK brought by Brexit.

Moreover, the decline in the pound’s value led to a surge in various economic prices since the EU exit raised costs for imports. This also helped UK products to be more competitive in foreign lands.

It’s been awhile before the exporters gained the benefits. As shown in the report, the demand bolstered by the expansion of economic growth in Europe which weakened the economic performance of UK during the financial disaster until this year.