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  1. #321
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    ForexMart's Forex News
    Asian indices grow on hopes for support from government​​​​​​​

    Asia-Pacific stock indices showed mixed trading during Tuesday's session. The Chinese Shanghai Composite and Shenzhen Composite indices increased by 0.12% and 0.06% respectively, while Hong Kong Hang Seng Index showed a rather significant decline of 1.88%. All other regional indicators rose. The Japanese Nikkei 225 index added 0.64%, the Korean KOSPI index gained 0.96%, and the Australian S&P/ASX 200 index increased by 0.52%.

    The main reason for the growth of Asian indices was the message of the Central Bank of China about the creation and the soon involvement of a series of measures to state support of enterprises, which were most affected by restrictions related to the spread of coronavirus in the country.

    There will also be an increase in lending in regions with a low rate of credit growth. It is suggested that more credit be given to firms engaged in transporting essential goods during the pandemic.

    At the same time, there has been an increase in government regulation of companies involved in the technology sector.

    The Chinese companies whose securities added in value are Link Real Estate Investment Trust gaining 1.55%, CNOOC, Ltd. increasing by 1.4%, and PetroChina Co. adding 1.2%.

    The Nikkei 225 was boosted by the declining yen. This is more beneficial for exporting companies as it increases their potential income.

    In February 2022, there was an increase in Japan's industrial production by 2%. In January, this indicator showed a decline of 2.4%. At the same time, the indicator exceeded the forecasts of experts, who assumed that the growth would be only 0.1%.

    Meanwhile, investors remain concerned about rising energy and food costs. They lack confidence that central banks can combat inflation without undermining business activity in their states.

    Among the companies on the Japanese index, Pacific Metals Co. added 8.4%, Sumitomo Osaka Cement Co. gained 5.2%, and Mazda Motor Corp. increased by 4.8%.

    Other Japanese companies showed smaller increases. Toyota Motor Corp. added 1.3%, and Toshiba Corp. jumped by 1.5%. SoftBank Group Corp. dropped by 1.7%, and Fast Retailing Co. decreased by 1.5%.

    Among the companies on the KOSPI index, Samsung Electronics Co. added 1.35%, and Hyundai Motor Co. increased by 1.1%. However, Kia Corp. grew only by 0.1%.

    Among the components of the S&P/ASX 200 index, BHP Group, Ltd. jumped by 1.3%, and Rio Tinto, Ltd. increased by 1.5%.

    Gold quotes fell to more than a week's low

    St. Louis Federal Reserve President James Bullard sees no need for the Fed to raise interest rates by more than 50 basis points. However, the central bank has previously raised interest rates more strongly, and therefore Bullard does not rule out a potential increase of 75 basis points.

    Meanwhile, Federal Reserve Bank of Chicago President Charles Evans said on Tuesday that federal funds rates could reach 2.5% by the end of the year.

    June COMEX gold futures closed down $27.40, or 1.4%, at $1,959 an ounce, the lowest since April 11, while May silver futures fell 76 cents, or 2. 9%, to $25.391 an ounce.

    As a result of Monday's session, gold reached the closing high for the most actively traded contracts since March 10. That day, trading ended at a 19-month high of $2,000.40, according to Dow Jones data.

    Gold prices rose in six of the last seven sessions, despite rising Treasury yields and a stronger dollar. Rising bond yields increase the opportunity cost of owning gold, which does not generate coupon income. At the same time, the strengthening of the dollar makes commodities denominated in this currency more expensive for holders of other currencies.

    The dollar continued to rise on Tuesday: the ICE dollar index, which tracks the dynamics of the US currency against a basket of six other currencies, reached a maximum since March 2020. The Japanese yen fell sharply against the dollar as the BOJ remains overly loose as the US Federal Reserve prepares to sharply raise interest rates and cut its asset balance in an attempt to contain rising inflation.

    Meanwhile, gold is gaining support amid the Russian-Ukrainian conflict. Gold is considered a safe-haven asset during times of geopolitical uncertainty.

    Technical analysis shows the potential for growth in gold prices, Otunuga notes, but quotes, apparently, are forming a new range. Support is located around $1960 and resistance is at $2000. In the event of a fall below $1960, prices could drop to $1920. In the event of a break above $2,000, the quotes may test the strength of the resistance levels located at the levels in 2009, 2015 and 2050 dollars.

    Meanwhile, May copper futures ended the day down 1.8% at $4.718 a pound. July platinum futures fell 3.1% to $988.70 an ounce, while June palladium contracts fell nearly 2.7% to $2,380.40 an ounce.
    Regards, PR-Manager ForexMart

  2. #322
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    vo van Đặt gạch

  3. #323
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    Yes. It's right and now people should invest in EUR/USD pair only at FreshForex broker as this pair is always stable the maximum trade volume always stays here.


  4. #324
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    Oil market news: while prices falling, return to the old days remains impossible​​​​​​​

    Oil is declining sharply on Monday due to expectations of falling demand for energy resources in China. Thus, June futures on Brent crude on London's ICE Futures exchange is estimated at $101.37 per barrel today, down by 4.49% from the previous session's close. The price of WTI futures for June on NYMEX electronic trading is $97.42 per barrel, which is 4.42% lower than the result of the previous trading. According to last week's results, the price of benchmark Brent crude fell by 4.5% and WTI crude dropped by 4.1%.

    China's largest city and financial center, Shanghai, reported a record number of new COVID-19 cases in the past two days - 39 deaths. The total number of deaths among those infected in this city with a population of 25 million people now stands at 87. The first deaths in Shanghai were reported on April 18. A lockdown was imposed in Shanghai on March 28, with most businesses shut down, markets and stores closed and residents locked in their homes and apartments. The population in Shanghai is daily tested for COVID-19 and those who test positive are sent to isolation centers.

    Lockdown in Shanghai strongly affects global markets, as huge batches of Chinese components due to idling in factories and plants simply cannot reach production facilities in other countries.

    The lockdowns fully affected the demand for gasoline, diesel, and jet fuel, which in China in April is likely to fall by 20% on a yearly basis. According to Bloomberg, the fuel price drop only for the current month has all chances to reach 1.2 million barrels per day. If this forecast comes true, the drop will be the most rapid since the beginning of the COVID-19 pandemic in the Chinese city of Wuhan more than two years ago.

    In the light of Russia's rapidly developing military action in Ukraine, the situation in the oil markets is getting much worse. However, the disrupted global supply chain system, skyrocketing inflation, and acute shortages of energy resources were observed in the world even before the Russian special military operation, which has only worsened the prospects and made it impossible to find a quick way out of the current situation.

    However, according to some experts, the conflict in Ukraine will end sooner or later, after which the global commodity market will return to its normal pre-crisis state. For example, analyst Michael Lynch reported in Forbes magazine that Russia's military operation will definitely end. The oil market will no longer have reason to worry, and it is sure to return to normal, and fuel prices will fall to quite acceptable levels. Analysts believe that the situation will be normalized by the lifting of sanctions against Russia. The return to the normal operation of the energy market is probably the main condition for Western European countries to maintain their economies and their usual standards of living.

    However, the lifting of sanctions is a forced measure for the political elites of the European Union, but not for the United States. US Secretary of State Anthony Blinken, who has repeatedly stressed in his speeches that it did not matter to his country whether Russia ends its military operation or not, the sanctions against it would not be lifted by the United States anyway.

    Oil Price reported that the long duration of today's stalemate increases the chance that there would be no return to the old pattern. For example, the fact that Europe is shifting from pipeline gas to liquefied natural gas and that Russian exports are shifting to Asian markets is irreversible. In this regard, the prognosis so far is disappointing for buyers: high oil prices promise to remain so for a long time.
    Regards, PR-Manager ForexMart

  5. #325
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    May 6. Brent rose to $114 per barrel

    The price of oil is rising on Friday on continuing concerns that the market will face a shortage of supply.

    The current Brent quote is $112.57 (the daily maximum is at $114 per barrel). WTI oil is trading at $109.56 (the daily maximum is $110.84 per barrel). Analysts note that since the beginning of the week, oil quotes have increased by more than 5% and may end with a strong increase for the third week in a row.

    OPEC+ countries yesterday agreed to maintain the plan to increase the production quota in June by 432 thousand barrels per day. However, despite a systematic increase in quotas since August 2021, OPEC+ cannot reach the permitted production level. It is noted that by the end of March, producers lagged behind by 1.45 million b/s.

    Meanwhile, European states are preparing to restrict oil imports from Russia. Earlier this week, the European Commission proposed to impose an embargo on Russian oil supplies to EU countries as part of the upcoming sixth package of sanctions. An additional impact on the dynamics of oil prices is the concern about demand due to the outbreak of coronavirus in China, as well as about the increasingly narrowing supply.

    Moreover, the US has announced its intention to start buying oil on the market to replenish the strategic reserve (SPR). It is expected that the Ministry of Energy will begin accepting applications from sellers this fall, although real deliveries will begin later.

    May 5. Bank of England hikes interest rates to 13-year high

    The Bank of England has raised interest rates to the highest level since 2009 to counter inflation, which could exceed 10% this year.

    The regulator raised the rate from 0.75% to 1%. Some representatives of the central bank called for an even greater increase up to 1.25%, in order to eliminate the risk of inflation entering the economy.

    Today's Bank of England move represents the fourth consecutive rate hike since December and the fastest increase in borrowing costs in 25 years.

    The regulator also did not rule out further tightening of monetary policy in the coming months.

    In addition, the Bank of England said that it is also concerned about the impact of China's policy to block Covid-19, which threatens to hit supply chains again and increase inflationary pressures.
    Regards, PR-Manager ForexMart

  6. #326
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    May 13. Oil market shows signs of recovery

    The price of oil continues to rise on Friday amid uncertainty about the imposition of a European embargo on oil supplies from Russia. Some EU countries believe that it is necessary to postpone the embargo on Russian imports if Hungary still does not support this ban.

    An additional influence on price dynamics is exerted by the situation in China, where the incidence of Covid-19 has declined.

    The current Brent oil quote is $108.87 per barrel. The daily high was marked at $109.72. The cost of North American WTI oil is located near $107.30 (the daily maximum is $108.12 per barrel).

    Investors also drew attention to the forecast of the International Energy Agency (IEA), according to which the decline in the supply of Russian oil on the world market in the second half of the year may reach 3 million barrels per day. In April, Russia had already reduced production by almost 1 million b/d, which led to a reduction in global supplies by 710 thousand b/d (to 98.1 million b/d).

    At the same time, pressure on the oil market is exerted by fears that a rapid tightening of monetary policy by world central banks will provoke an economic downturn and a subsequent decline in demand for energy resources.

    May 12. Bitcoin has broken through the level of $26 thousand

    The bitcoin exchange rate continues its decline, which began yesterday. The current quote of the most popular cryptocurrency is $27.775.40, the daily minimum was marked at $25.845. The market capitalization of the asset decreased to $515 billion with daily trading volumes of $ 71 billion.

    The crypto market began to decline after the publication of inflation data in the United States. According to the US Bureau of Labor Statistics, consumer prices rose by 8.3% in April. This indicator turned out to be 0.2% higher than forecasts (8.1%) and approached the highs for 40 years.

    Such statistics somewhat scared investors who hurried to get rid of high-risk assets, including cryptocurrencies. According to experts, both stocks and crypto assets fell in price, which caused panic in the market.

    It is worth noting that bitcoin has already fallen below the level of $29 thousand twice in a week. Experts call the $30 thousand level a landmark reference point for bitcoin until recently, the cryptocurrency rose above $40 thousand, but quickly returned back.

    Another event that had an impact on the cryptocurrency market was the news about the Terra project. Unexpectedly, the popular TerraUS stablecoin rapidly collapsed, its exchange price was much less than the declared $ 1. At the same time, it is known that the stablecoin was provided by other digital assets, including bitcoin.

    In addition to bitcoin, other cryptocurrencies have also fallen in price. The Ethereum exchange rate today is located at $1909.35 (the daily minimum is $1720.58). The cost of Binance Coin has lost 26%, XRP and Solana have become cheaper by 28% and 35%, respectively. The overall valuation of the cryptocurrency market decreased by 18.5% to $1.2 trillion.
    Regards, PR-Manager ForexMart

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    May 16. Gold fell below $1,800 for the first time since the beginning of February

    Today, the price of gold fell below the psychological level of $1,800 for the first time since the beginning of February. The daily low was fixed at $1,785.40 per troy ounce. The current quote for the precious metal is $1,815.87.

    Analysts note that at the end of the past week, the price of gold fell by 3.9%, a record pace since June 2021.

    Experts say that the main reason for the decline in quotes is the strong dollar and the growing yield of bonds, because against this background, gold, which does not bring interest income, loses its attractiveness in the eyes of investors.

    The ICE currency index, which shows the dynamics of the dollar against six major world currencies, is down about 0.15% on Monday after rising to a 20-year high last Friday.

    July futures for silver, meanwhile, are growing in price up to $ 21.465 per ounce. Moreover, last week silver finished falling by 6.2%, the maximum since the end of January.
    Regards, PR-Manager ForexMart

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    May 17. Unemployment in Britain in the first quarter fell to the lowest since 1974​​​​​​​

    According to statistics from the National Statistical Office (ONS) of Great Britain, unemployment, calculated according to the methodology of the International Labor Organization (ILO), in January-March 2022 fell to 3.7%, which was the lowest since December 1974.

    In the period from December 2021 to February 2022, unemployment was 3.8%. Economists expected the indicator to remain unchanged.

    ONS data indicate that the employment rate in the country continued to grow in April. The number of jobs increased by 121 thousand last month and reached 29.5 million, and the number of open vacancies reached a record 1.295 million.

    Analysts of the department note that for the first time since the calculations, the number of unemployed turned out to be less than the number of vacancies.

    The average salary of Britons in the first quarter of 2022 increased by 4.2% in annual terms. At the same time, adjusted for inflation, salaries decreased by 1.2%.
    Regards, PR-Manager ForexMart

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    May 18. Johnson Matthey: palladium market may face a deficit in 2022​​​​​​​

    According to the review of the world's largest producer of materials for autocatalysts, the British company Johnson Matthey, the palladium market in 2022 may become scarce against the backdrop of a decrease in the output of the metal in South Africa and the risk of disruption in supplies from Russia.

    The palladium market was already in deficit in 2020 (about 650 koz), but in 2021 the situation has become relatively balanced.

    Johnson Matthey fears that in the current environment, Norilsk Nickel, the world's largest palladium producer, may not be able to supply all of its products to the market. Due to the uncertainty in this matter, it is very difficult to calculate the total supply in the palladium market.

    Another major supplier, South Africa, will cut shipments by more than 6% in 2022 compared to 2021, amid depletion of work-in-progress inventories and planned maintenance of processing facilities.

    Moreover, the situation in Ukraine created significant supply risks due to Russia's status as the world's largest supplier of palladium and a major producer of platinum and rhodium. At the moment, Russia provided about 28% of the total supply of primary and secondary palladium.

    Experts believe that net demand for palladium will grow by 3% in 2022 to 6.9 million ounces. Demand growth will be constrained by weak car production and cost-cutting programs on the part of metal consumers.
    Regards, PR-Manager ForexMart

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    in ro ham eslah kon:
    May 19. Tether lost $7 billion: is it the collapse of stablecoins?​​​​​​​

    According to CoinGecko, Tether's turnaround offer has dropped from about $83 billion a week ago to less than $76 billion dollars on Tuesday. Investors withdrew more than $7 billion from this stablecoin after it briefly lost its dollar peg.

    As you know, Tether is tied to the dollar it should always cost $1. But last Thursday, its price dropped to 95 cents amid panic over the collapse of a competing token called Terra USD.

    Most stablecoins are backed by fiat reserves, which means that they have enough collateral in case users decide to withdraw their funds from them. However, the new generation of algorithmic stablecoins (such as Terra USD or UST) have a dollar peg based on a mathematical code.

    The loss of the dollar peg drew attention to the problem of reserves behind Tether. When the reserves data were last released, cash accounted for $4.2 billion. Another $34.5 billion consisted of unidentified Treasury bills with a maturity of less than 2 months, and $24.2 billion of assets accounted for commercial securities.

    Experts note that the destabilization of tokens has worried regulators in the United States and Europe. Last week, US Treasury Secretary Janet Yellen warned of risks to financial stability if stablecoins continue to grow unchecked. At the same time, she urged lawmakers to adopt laws regulating this sector by the end of 2022.

    France is also concerned about the situation in the cryptocurrency market, calling it a wake-up call for global regulators. According to the governor of the Bank of France, Francois Villeroy de Gallo, cryptocurrencies can destroy the financial system, especially stablecoins, if they are not regulated. As a result, the European Union plans to subject stablecoins to strict regulatory oversight through new rules known as Crypto Asset Market Regulation or MiCA.
    Regards, PR-Manager ForexMart

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