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Winners for the week July 10 to July 14, 2017.

Contest Prizes:

1st Place - 300 USD

2nd Place - 90 USD

3rd Place - 75 USD

4th Place - 70 USD

5th Place - 65 USD

6th Place - 60 USD

7th Place - 55 USD

8th Place - 50 USD

9th Place - 45 USD

10th Place - 40 USD

The current contest has already started on August 7, 2017 and will end on August 11, 2017.

You can register for the next competition which will take place from August 14, 2017 to August 18, 2017

Note:

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

The current Money Fall contest has already started on August 14, 2017 and will end on August 18, 2017.

You can register for the next competition which will take place from August 21, 2017 to August 25, 2017

Note:

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

Winners for the week July 24 - July 28, 2017:

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.

Fastest Growth of US Economy During the Second Quarter

During the January-March quarter where US President D. Trump was already in the position, America’s economy was able to grow by 3% based on the updated estimates issued by the administration on Wednesday.  This is the strongest growth recorded since Q1 of 2015 which doubled the pace of the first three months 2017, it also provided a much accurate estimate for the Q2. While the government gauged that second quarter growth will gain 2.6% in July, initially. The economic momentum was influenced by robust consumer expenditure and stronger business investments. President Trump pledged during his campaign for a 4% growth, but later on reduced this to 3%.

Moreover, the White House aims to improve the slow recovery from the general economic decline by lowering down taxes, cutting deregulation while increasing infrastructure expenditure. Until now, the economic agenda of Trump still unable to settle in the Congress

Nevertheless, the American economy seems to be healthy, mainly on employment. Hiring for private employers was increased in August with 237,000 additional laborers, based on the ADP assessment released on Wednesday.

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.

Greenbacks Weakened as Japanese Yen Strengthened

On Tuesday, the American dollar declined against its major counterparts as tensions arise brought by the North Korea and the reluctance of the Fed Reserve to approach US investors upon returning to the market from the Labor Day holiday.

The ICE U.S. Dollar Index measures the performance of the greenbacks versus its other major six rivals, as it slid lower at 0.3% to 92.318. While, the WSJ Dollar Index gauges the dollar’s position within the larger basket of currencies, showing a downward move by 0.4% to 85.29.

Almost of the U.S. markets were not in operation last Monday due to Labor Day.

The greens further gained losses against the safe haven currencies including the Japanese yen and the Swiss franc on Monday, after the most recent nuclear test made by the Democratic People's Republic of Korea

The USD was able to broke the 109 handle against the yen held during the earlier session, as it weakened to ¥108.73 which is lower from ¥109.73 on Monday.

The city of Pyongyang is predicted to prepare another missile launch sooner or later, that is possible as early as Sept. 9 during the celebration of the region’s National Foundation Day in 1948.

Moreover, the U.S. Dollar fell to 0.9551 against the Swiss franc on the back of a robust trading session and reached the 0.9583 level on Monday.

Economic Calendar (Friday, September 8, 2017)

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.

A trader that knows more, profits more. Use ForexMart's Forex Economic Calendar and become a better trader today.

Australian Dollar Up Against the USD due to Hurricanes

The national currency of Australia is predicted to maintain its stance near the two-year highs, as the American dollar is expected to be under pressure due to economic downfall assessed by investors in line with the destructive hurricane that hit the shores of Florida.

On Friday, the Aussie dollar was able to reach its highest level since May 2015 while investors are preparing for further impact by Hurricane Irma as the forecast says, it will slam the Florida Keys along with some flooding in Florida’s Gulf Coast.

Lloyd’s of London fears for the possible insurance losses worth $US 200 billion ($248.22bn) as tropical cyclones brush off through the coasts of the United States and the Caribbean.

The reversal in the residential construction activity seems evident, as Westpac chief economist Bill Evans worries about the declining growth outlook based on the Reserve Bank’s report regarding monetary policy previously.

The bank further mentioned the increasing charges of stamp duty from foreign investors, as well as funding restrictions and Chinese government restraints that mainly influence future developments, particularly on international companies.

On Thursday, job statistics for this month will provide a break point for markets and the NAB’s economics team anticipates for a strong and steady month of the jobless rate at 5.6 percent. While tomorrow is scheduled for the publication of the bank’s Business Survey which would likely continue to show solid levels of business confidence. Moreover, the  Westpac consumer confidence index will be issued on Wednesday and expected to remain weak. It should be watched carefully because of the impact cause towards the retail-exposed stocks, as the dollar seems trading actively.

The greenbacks were able to lose its gains on the back of touching its two-year high at US81.25c last Friday, however, it closed over the critical level of  US80c.

German Economy Gained More Than Two Percent in 2017, says BDI

The economy of Germany is expected to increase by more than 2 percent this year, with further adjustments on calendar effect According to the BDI industry association, this could be the strongest rate in six years after increasing its growth outlook for the biggest economy of the European Union.

The forecast comes after a muted message by the Economy Ministry, stating that the country might have slower growth during the second half amid the breakthrough for the first half.

The German economy would likely have an upswing due to consumer-driven factors including the extremely low borrowing costs, high level of employment and increasing real wages.

Moreover, these factors may support Chancellor Angela Merkel to gain victory for her fourth term during the federal election on September 24.

The ministry is very careful before publishing any forecast as indicated in its monthly report, stating that the development will continue until December but it is possible that dynamics will weaken.

So far, the growth forecast for this year remains unadjusted at 1.5 percent by which will be revised to 1.8 percent due to calendar-adjusted basis. However, analysts hope that the government will further lift the rate in autumn.

Collaboration of Indian and Japanese Economy

The Prime Minister of Japan, Shinzo Abe will visit India to begin the bullet train project, as well as to improve the commercial ties between Japan and India, especially in the field of development and defense.

The scheduled arrival of the Japanese PM is on Wednesday and intended to stay for two days to discuss trade dealings along with the annual summit involving the two countries. PM Abe and PM Narendra Modi are working on the 508-km long rail bullet train project called as the Mumbai-Ahmedabad High-Speed Rail, and the two leaders will design the foundation stone on Thursday. This project is estimated to complete by 2023 with an entire capability to run by 350 km per hour.

The  Japan Investment Cooperation Agency (JICA) financed this project by 80 percent as a soft loan with a very low-interest rate on a 50 year period. It could further lessen the time spent in traveling from Mumbai to Ahmedabad which is from seven hours down to two hours time travel. The remaining Rs 9,800 crore amount of funding will be carried by Indian Railways, which makes this project an expensive one.

Japan’s Shinkansen Technology will fly to India and made advancement under the scheme of Make in India, says  Railway minister Piyush Goyal.

Emerging Markets Shift To Domestic Bonds

The bond market became stronger amid all the external shocks and rise in general levels of debt in the emerging market as investors shifted to longer-dated bonds and domestically-issued bonds.

It has been forecasted by the Bank for International Settlement that the rise in debt levels would become a new problem which has been forewarned before. Although, the changes would still depend on the structure and assuage the problem at hand. Nevertheless, borrowing is mostly executed in local currencies at long-term maturities with a fixed rate. Foreign bonds declined from 32 percent since the end of 2001.

These would reinforce the viability of public finance and lessen rollover risks and imparity of currencies as stated by the BIS. Longer tenor bonds would result in higher bond yields internationally since advanced countries implemented loose credit policies  and interest rates would push the price lower for long-dated bonds compared to short-term tenor.

According to the most recent report on Sunday, the government debt in emerging markets is aggregated to be at $11.1 trillion which has doubled in value since the latter part of 2007. On the other hand, the public debt partly contributing to the gross domestic product soared by 51 percent and 10 percentage points higher by the end of 2007. At the same time, statistics showed that bond maturities have firmly increased over the emerging markets with the average maturity of 7.7 years including 23 countries such as Mexico and South Africa. Notably, this is just a bit lower than the average figure in 8 years among industrialized nations.

France’s Budget Easing Amid Steady Economic Growth

The path to recovery of France is strong that the government could reduce spending without affecting the rise of the deficit and the budget as reported by the finance minister on Monday. Twenty billion euros is the target amount of the government but this figure could still be trimmed if there will be a stronger growth and less tightening in the budget next year. On the other hand, the estimated value of cuts for next year will be 16 billion.

In the past, former governments were criticized on their excessively high growth forecasts which are reflected on budget and deficit-reduction. According to the Budget minister Gerald Darmanin, the basis of the initial budget for the President Macron’s administration is the forecast of 1.7 percent. Although he said that this could still improve but this what the current economists anticipate. The assumed 1.7 percent is slightly higher from the previous government forecast of 1.6 percent which is deemed to be the strongest economic performance since 2011.

In the current condition, the government has minimal options but to be stricter in order to achieve the promise of reducing the public deficit and also to lessen tax burden of the nation.

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!

Japan’s Manufacturing PMI for September Perk up

The manufacturing activity of Japan increased in September at its fastest pace within four months, along with the expansion of exports and domestic orders, indicated in a preliminary private survey on Monday, and further showed some signs of strengthening demand.

The Markit/Nikkei Japan Manufacturing Purchasing Managers’ Index (PMI) was able to grow to a seasonally adjusted 52.6 for this month versus the previously 52.2 in the month of August. The PMI remained on top of the threshold 50 that detaches expansion contraction from the 13th consecutive month and drove towards its highest level in May.

Annabel Fiddes, a principal economist at IHS Markit, conducted the survey and said that  “Firms signaled stronger expansions in both output and new orders amid reports of firmer demand both at home and abroad.” Fiddes also mentioned that the third quarter ended strong which provided positive signs for production for the following months, as business confidence picked up marginally since last month.

New export orders index expand from 51.3 to 53.1 initially.  The flash index for new orders climbed to 52.5 versus 51.9 results in August. PMI index output component further grew since August.

The PMI survey adheres with government figures issued last week, as Japanese exports in August perked up at its fastest in almost four years caused by the strong international demand. There is more evidence offered that shows Japan’s economy will continue growing.

Chinese State-owned Firms Higher Gains Until August 2017

State-own companies in China had an increase in profit gains by 21.7 for last month compared to the same period for the year of 2016, as stated by the Ministry of Finance on Tuesday. The collated profits were 1.9 trillion yuan or $287.27 billion for the eight months of the year since January. As for the revenue, it climbed 15.5 percent to 33.08 trillion yuan. Yet, the debts of state firms soared 11 percent to 96.49 trillion yuan set side by side to the previous year at the end of August.

Switzerland is the ‘Most Competitive Economy’ in World

On Wednesday, the World Economic Forum announced that Switzerland hailed the most competitive economy in the world for nine consecutive years. In 2008, the country suffered from a minor shock which enabled the United States to push the Swiss economy in the second spot, nevertheless, the Swiss Confederation was able to maintain the first place due to its adeptness as shown in the annual ranking of WEF.

Switzerland is on top for nearly a decade but the country is currently at risk due to populism and complacency.

Aside from Switzerland, the list kept unchanged since last year, except a little bit of shuffling. The United States was able to outpace Singapore for the second place, while Hong Kong is in the sixth rank as it successfully passed three places, going beyond Japan in the ninth place.

Moreover, the Great Britain lowered down to eighth and the WEF said, this fall has nothing to do with the Brexit process and the slide is already expected. The Chinese economy ranked 27th which is ahead of Russia on 38th and India on the 40th. In addition to it, Yemen is in the 37th position and the poor country got the wooden spoon amid their devastated status due to civil war, economic downturn, and widespread scarcity.

BOJ Member Kataoka Suggests Monetary Policy Expansion

Japanese policymakers plan to expand the country’s monetary policies in the recent review in September that sums up the opinions of the Bank of Japan’s board members meeting on Friday. This implies that the divisions are improving directed by the policies.

Majority of the board members agrees to sustain the current stimulus program even if it would take time to reach the inflation target rate of 2 percent. Although, it was not clear who gave comments in particular and which direction it would go.

One member, Goushi Kataoka has expressed contradiction on keeping the rates and be hawkish instead, implying that the current policy is not enough to boost the inflation and reach the 2 percent target. He specifically mentions the need for an expansion of monetary easing since the sales tax are expected to be increased in October 2019 moving towards the goal.

Some members raised concerns regarding the serious problem of North Korea and how it would affect the country. A member commented that if the geopolitical tension further escalated, the BOJ has to be ready in handling the situation by making necessary policy adjustments to avert the deflationary idea.

The monetary policy meeting of the BOJ has kept its short-term interest rate target at -0.1 percent and a potential to set the 10-year government bond yields close to zero percent. The central bank already expects that the price target of the central bank would take some time and requires patience to keep the current policy.

British Economy Soften in Third Quarter, says CBI

The growth in the UK private sector had reduced marginally during the third quarter, as mentioned in the industry poll issued on Sunday, amid the optimistic outlook of various firms in the following months.

The monthly indicator of the Confederation of British Industry for the output for manufacturers, retailers and services companies is down to +11, compared with the +14 for the three months to August. Even though there are mixed expectations, the overall data for the next quarter is anticipated to perked up to +18 which is two points from August.

The survey of the CBI signaled that it is impossible to persuade the rate setters of the BoE who stated that interest rates would increase sooner or later, in consideration of the continuous economic development and price growth.

The Office for National Statistics (ONS) mentioned last week that the British economy had an uptick on its slowest annual pace in 2013 subsequent to the EU exit in 2016. As indicated in the Reuters poll last week, many economists predicted that rate hikes will be in November while the other respondents believed that it is inappropriate to imply such action.

Economic Calendar (October 3, 2017)

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.

A trader that knows more, profits more. Use ForexMart's Forex Economic Calendar and become a better trader today.

UK Inflation Ranked First Among The G7: OECD

According to the statistics issued by the Organisation for Economic Co-operation and Development (OECD), the cost of living in Britain increased faster compared to other countries, including the so-called ‘G7 leading global economies’. Based on the revealed figures, the British economy has the highest inflation rate among top economies of the world, as the Brexit weighed on the sterling pound and continue to put pressure on household finances.

Inflation in the United Kingdom rose to 2.9% last month due to a surge in prices of fuel and clothing which exacerbate the pressure towards cash-strapped households struggling with slow wage growth. The UK was able to overcome the 1.7% average, which is also greater than the recorded inflation of other G7 members (Canada, France, Germany, Italy, Japan and the United States). It also exceeded the OECD average percentage of 2.2%, this further indicates that Britain surmounted the European Union including other G20 nations, showing results at .5%, 1.7%, and 2.3%.

However, the Britons are currently facing poor wage growth and high expenditure on the back of a weaker pound. This is because of the Brexit referendum that heightened prices for energy, imported goods, and services. Furthermore, United Kingdom is only behind Estonia, Latvia, Mexico, and Turkey.

Miscalculation of ONS Affected BoE’s Possible Rate Hike

The Office for National Statistics of UK further put pressure on the Bank of England over the issue of the rate hike next month after it lacks confidence to the pacing of the labor costs. On Monday, the official statistics agency admitted the mistakes made on its initial estimates for the growth of wage costs unit. The calculation is shown an annualized 2.4 percent in three months to June against the earlier published 1.6 percent on Friday.

The upward revision indicates that growth wages in Britain could be a driving force closely examined by Threadneedle Street, while there is a possible rate increase for the first time in the past decade. Moreover, the growing labor costs imply the strengthening of the economy, confirming a raise in interest rates.

The borrowing cost would likely boost from 0.25% to 0.5% and the committee for the monetary policy should decide whether the economy is capable to come up with the increase.

Regardless of the optimistic signs of the economy, there are varying prospects for a weaker scenario. As reports from the construction sector revealed signs for a possible downturn. While the Organisation for Economic Co-operation and Development, on the other hand, predicted that UK economy will slow-up in 2018.

Furthermore, analysts from Swiss bank UBS mentioned that the rate hike could worsen the potential reversal of the British economy due to Brexit procedures.

The wages of British laborers were not able to surge over inflation rate since the 1970s in spite of low levels of unemployment. However, salary growth is improving but fail to keep its pace due to a high cost of living brought by imports value relative to the sluggish pound.

Expected Positive Recovery on  World Economy, says IMF

On Tuesday, the comprehensive global economic growth is expected to remain this year until 2018, according to the International Monetary Fund (IMF). While the gains of most countries around the globe were able to countervail weak data from India, United Kingdom, and the United States.

The IMF revised higher its predictions for the current economic upswing by 0.1 percentage points, showing 3.6 percent increase and 3.7 percent for next year. The upgraded forecast was steered by the increase in consumer confidence, investment, and trades.

Moreover, projections for China, Japan, and the euro area, including emerging markets, Europe and Russia, also skyrocketed.

The economic development in the United States remained unchanged at 2.2 percent in 2017 and 2.3 percent next year based on Fund’s July statistics. The tax reduction imposed by Trump administration is still not accomplished, as expected.

As indicated in the Fund’s report for April, the 2017 growth outlook for the United States was trimmed by 0.1 percentage points and 0.2 percentage points in 2018, and suddenly raise in July with the same points.

The Republican party had laid out three tax proposals seeing that Trump governs since January and the administration's most recent action is stuck in a political dispute in Congress.

The Fund affirmed that America’s economy would slow down due to changing demographics and weak productivity development in the longer term. It further mentioned that the potential growth of the state will only be at 1.8 percent, which is lower than the government’s target at 3.0 percent.

ForexMart Cements New Partnership with HKM Zvolen

ForexMart has added a new industry giant in its growing list of partnerships with established sports companies: HKM Zvolen.

Hokejový Klub mesta Zvolen or HKM Zvolen for short is one of the most celebrated hockey teams in Slovakia. The professional hockey club has established a long rich history that can be traced back as early as 1927. The club has two Slovak league championship under its belt and the 2005 IIHF Continental Cup.

The partnership between ForexMart and HKM Zvolen has been an awaited collaboration with both companies enthusiastic for a prosperous relationship.

Executives of ForexMart expressed their optimism with the new partnership.

"Gaining a new partner in this business is a sign of enduring success for both parties. I am excited at the prospects of cooperation with HKM Zvolen because I see a future full of possibilities. We are ready to win not only in the hockey rink but also in business."- Savvas Patsalides, ForexMart CEO

"I've always believed that winning can only be achieved through hard work and solid teamwork, qualities that are the essence of both ForexMart and HKM Zvolen. We are proud of this partnership because just like them, we are in the business not only to win, but also to grow as a team with our clients."- Ildar Sharipov, ForexMart President

ForexMart and HKM Zvolen will launch collaborative projects that intend to promote both companies. ForexMart will also stand as sponsor of the hockey team with the HKM Zvolen players bearing the official ForexMart logo in their upcoming games.

ForexMart and HKM Zvolen awaits a bright future with this collaboration.