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Company News by ForexMart

Japan’s Manufacturing Activity Grew Due To Domestic Demand in August

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Japan’s manufacturing activity grew at a bit faster rate in August as the domestic demand increased according to a preliminary survey on Thursday. Although the export orders dropped adding to the problem with the trade protectionism.

The flash Markit/Nikkei Purchasing Managers Index (PMI) on manufacturing sector increase to 52.5 on a seasonally adjusted in August compared to the 52.3 figure in July. Figures remained above the 50 mark which puts it apart from contraction for the 24th straight month.

The flash data prolonged the growth cycle of Japan’s manufacturing sector for two years, which has been the longest period since the global financial crisis, as described by an economist at IHS Markit.

Adding to that, he said that the expansion was supported by the strengthening domestic market with the most recent data that came out.

Data shows that export orders increased to 52.6 from 50.9 last month, giving emphasis on the steadfast growth of the domestic market. However, the new export orders declined to 49.3 from a final 50.0 in July, showing a decline in two months.

Real wages grew in June, which was the quickest rate over 21 years, signaling consumer spending to further rise.

The economy progressed at a better rate in the second quarter, boosting a strong household and business spending and further strengthening the domestic demand. Yet, concerns on trade disputes add risk in the manufacturing sectors as it may affect the export demands.
 
France Advised Turkey to Use Economic Policy Tools

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French Finance Minister Bruno Le Maire told Turkish counterpart Berat Albayrak at a meeting on Monday that Turkey should make use of their tools available for economic policy in order to establish a sustainable growth.

Turkish lira had declined by almost 40 percent this year due to concerns on monetary policy as well as the issue of the Christian pastor Andrew Brunson. Moreover, Le Maire mentioned that everyone, including Europe, France, and Turkey itself, that the situation in Turkey will become stable. France further stated that Turkey is committed to structural reforms.
 
NZIER Revised Downward its Growth Outlook

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The New Zealand Institute of Economic Research (NZIER) decided to reduce its economic growth outlook due to combined events of slackening population growth, the decline in business confidence and global trade war. However, the demand for residential and nonresidential construction continued to be strong and capacity constraints limit the highest extent of construction activity.

Moreover, the prospect of economists and the Reserve Bank indicates that the official cash rate will remain steady until 2020. Generally, the monetary policy normalization introduced by the United States reflects for the rate increase which is required to allocate among emerging markets.
 
Mexico’s Central Bank Lower Growth Forecast Amid NAFTA Talks

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The central bank of Mexico adjusted lower their forecast for this year and the next, based on the report released on Wednesday. Although, the NAFTA trade talks could allay the uncertainty of the economy.

The gross domestic product is anticipated to rise between 2.0 and 2.6 percent in 2018 compared to the previous inflation report of 2.0 to 3.0 percent, which may denote a problem in the future.

Growth forecast for 2019 is around 1.8 and 2.8 percent much lower than the range of 2.2 and 3.2 percent. The fourth quarter inflation is presumed to be at 4.2 percent this year, higher than the former 3.8 percent.

Other than that, the central bank raised its inflation estimates for 2018 and the next close to the 3.0 percent target in the first half of 2020.

For 2019, the central bank increased the inflation estimate to 3.3 percent for the fourth quarter next year than the 3.1 percent previously.

The board said that monetary policy will be adjusted and will continue to do so if the situation demands a more “firm” approach to reach the inflation target.
 
British Manufacturing Weaken as Export Orders Decline

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UK manufacturers had a lackluster month after a couple of years while exports had an unusual downfall in August, and these serve as a warning for the potential economic decline as the Brexit issues also affects British factories, according to a survey.

The IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) is down to its lowest level since July 2016 at 52.8 due to Brexit vote, while Reuters poll of economists showed a median estimate of 53.8.

Moreover, the pound appears to be sluggish against its rivals dollar and euro after the published data, as experts also mentioned that the possible exit of the European Union in March 2019 without a finalized deal would likely reflect on the sentiment.

Factory orders became unsteady in more than two years, which was greatly affected by the initial decrease in export orders since April 2016. The uncertainty in the British exit approximately in seven months supported the business confidence to reach a 22-month low.
 
Australian Economy Strengthen Due to High Consumer Spending

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The resilient economy of Australia showed robust growth during the Apr-Jun quarter this year, along with the growing exports, consumer expenditure, and government spending, based on the official data issued on Wednesday.

The Australian economy grew by 0.9 percent for the second quarter, after the 0.7 percent expansion in the first quarter, to take the annual growth rate to 3.4 percent. However, the quarterly reading was way far than the market forecasts of 2.8 percent, following the yearly reading of 3.1 percent on Q1. The increase had pushed the Australian currency to reach nearly half a cent to 72.17 US cents.

Moreover, household spending escalated to 0.7 percent which added 0.4 percentage points of growth, as net exports contributed 0.1 percentage points. On the other hand, the government expenditure was up by 1.0 percent to extend its highest growth throughout the year.
 
Germany’s Growth Outlook Raises to 1.9 pc, says Ifo

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On Thursday, the Ifo economic institute announced its increased on 2018 economic growth outlook for Germany to 1.9 percent versus 1.8 percent in the previous, indicating a better-than-expected growth during the first half of the year.

Ifo economist Timo Wollmershauser stated that there is an ongoing strong upswing in the German economy, which will be mainly driven by personal consumption for the current year and in 2019. He added that this will be supported by the employment expansion and stable income growth.

The Ifo expects that the GDP growth rates will reach 1.9 percent next year and 1.7 percent in 2020.
 
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Japanese Manufacturers’ Confidence Dropped in September as Trade Tension Continues

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Japanese manufacturers’ confidence dropped this month, following a seven-month high in August. The survey shows the possibility of worsening trade war between China and the US that puts exporters hesitant.

The monthly survey of BOJ Tankan also indicates bouncing up in September from a two-year low in August driven by retail spending from summer bonuses and high heat.

Unlike three months earlier, m manufacturers’ sentiment remained unchanged and the service-sector sentiment to slightly behind, signifying the BOJ Tankan on 1st of October to be positively holding steadily the business confidence.

The government also shows the economy to be growing at the fastest pace since 2016, overshadowing capital expenditures of the economy amid the trade tensions and natural disasters, based on the reports by Tankan on Monday.

Although, the business morale is anticipated to recover in the next three months but not the service-sector which is slightly declining.

Reuters survey also shows exporters of cars and metal products or machinery raised concerns on the effect of the trade war tensions as they react on putting tariffs, influencing shipments and capital expenditure.

Manufacturers’ index remained the same with the figures three months ago but this is expected to recover in December.

Meanwhile, the service sector index grew to 33 from 25 last month, driven by retailers. In comparison, it dropped by 2 points from June data of 35 points. This is once again presumed to go down in December.

Figures slid down for the second consecutive quarter primarily due to higher costs as an after-effect of US trade protectionism that affect negatively Japan, being an export-reliant nation.

On the other hand, the revised government data showed a boost in capital spending, resulting in a growth of 3.0 percent annually in the second quarter. This has exceeded economists’ forecast of 2.6 percent gain and the fastest growth so far since the first three months of 2016.
 
Germany’s Higher Growth Forecast by 2 Percent in 2018

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The German economy is expected to rise around 2 percent this year, more or less 0.1 percent, according to the German Economy Minister Peter Altmaier on Monday.

It is possible to reach as much as 3 percent but companies’ efforts are not sufficient to attain higher growth as there is a lack of skilled workers to raise their output.

Around the beginning of the month, the Ifo economic institute adjusted higher their rate forecast of German GDP to 1.9 percent from 1.8 percent this year which is indicative of good performance in the first six months of the year.
 
German Services Grew to an 8-month High Inverse to Weak Manufacturing Sector

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German services growth reached an 8-month high in September based on the survey on Wednesday which seems to be softening the effects of slower manufacturing growth because of its stronger domestic demand.

The IHS Markit’s final composite Purchasing Managers’ Index (PMI), reflecting the performance of manufacturing and services sectors that represent two-thirds of the economy, dropped to 55.0 from 55.6 in August.

The outcome is still a bit lower than the preliminary estimate in the previous month but it still above the 50 demarcation, separating growth from contraction.

The business activity for the services sector improved to 55.9 in September from 55.0 a month earlier with the employment rate reaching its highest in almost 11 years while services firms continue to be optimistic about future businesses.

In the span of two years, the service sector at a quicker pace compared to the manufacturing sectors which supports a significant shift in the driver of growth in the biggest area of euro, according to IHS Markit economist, Phil Smith.

Growth rate almost expanded by 0.5 percent in the third quarter, he added.

German services were driven by a positive record of employment and increasing real wages, higher job security, and cheaper borrowing costs, boosting domestic demand.
 
The current Money Fall contest has already started on May 27, 2019 and will end on May 31, 2019.

You can register for the next competition which will take place from June 3, 2019 to June 7, 2019 (Terminal time). .

Note:

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

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Please note the changes in trading schedule due to US Veterans Day

Dear traders!

Please note some changes in the schedule of trade in observance of the Bank Holiday on Veterans Day. This holiday, originally known as Armistice Day, is a federal holiday in the United States observed annually on November 11, for honoring military veterans.

We draw your attention, that trading metals and CFDs on shares of American companies will be unavailable all day long. Please take this information into account when trading.

The schedule will be back to normal from the following day.
For more information, please contact our support team.

Best Regards,
ForexMart team.
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Thanksgiving is just around the corner!

Warm Thanksgiving wishes to our traders this holiday season!

We’re thankful for all of our clients! Thank you for being a part of our effective interaction this year. And we hope your day is filled with love, laughter and gratitude. Happy Thanksgiving!

And now we want to draw your attention to some changes in the schedule of trade on the November 28 in observance of this happy holiday. Please note, that trading metals and CFDs on shares of American companies will be unavailable all day long.

The schedule will be back to normal from the following day. Please take this information into account when trading.

Wishing you a happy and festive Thanksgiving with all your family and friends!

Sincerely,
ForexMart team
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Improvement of trading conditions for Metals

ForexMart keeps constantly improving to provide its clients with the best conditions of trade. So, this time we draw your attention to some upgrade in the terms of trade in metals on floating spread accounts: Classic, Pro and Cent.

In the period from 9 to 15 December a planned updating of conditions for trading Metals will be carried out. After the upgrade, Metals symbols will become available for trading with lower floating spreads.

Please note that changes may affect open positions, therefore, we recommend that you close current metal positions by the specified date. Moreover, consider these changes when planning new deals according to your trading strategy.

Sincerely yours,
ForexMart team
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Technical works on upgrading Metal symbols were successfully completed

Dear clients,

We draw your attention to the fact that the company successfully modernized Classic, Pro and Cent accounts and transferred them to updated conditions for Metal trading.

Since now, after the upgrade, Metals symbols are available for trading with lower floating spreads. Also please note new designations of trading instruments:

GOLD.m
SILVER.m
XAUUSD.m

Stay with us to get more benefits from trading.

Sincerely yours,
ForexMart team
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ForexMar launched support for deposit by Bitcoin

Dear ForexMart customers and partners!

We are happy to inform that we launch Bitcoin as a new payment method. Now you can deposit your trading account by simple Bitcoin-transaction.

ForexMart have implemented this technology due to numerous requests from trypto traders. We hope that this will make your trading even more convenient and efficient.

We also remind you that our company provides an opportunity for profit on the change in the exchange rates of main crypto relative to the US dollar.

These financial Instruments are available for trading 24 hours a day, 7 days a week:

Bitcoin,
Bitcoin Cash,
Ethereum,
Litecoin,
Ripple.

You can trade using the web-terminal, as well as the multifunctional MT4 application, which is trusted by most traders in the world. Let's celebrate the new year with new technologies!

Thank you for choosing us,
ForexMart team.
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Trading schedule for Christmas and New Year's 2020

Dear clients,

ForexMart wishes you Merry Christmas and Happy New Year!

Let luck and success accompany your trade, and the new year will bring financial stability and prosperity!

Please note that in observance of the upcoming Christmas and New Year's holidays, there will be temporary changes to ForexMart trading schedule.

December 24 – markets work time: 00:00 – 20:00;
December 25 – markets are closed;
December 26 – markets work on a regular schedule, opening at 01:00;
December 31 – markets work time: 00:00 – 20:00;
January 1 – markets are closed;
January 2 – markets open later than usual, at 6.00 a.m.

The schedule will be back to normal from January 3, 2020.

If you have any questions or concerns about these changes, please don’t hesitate to contact our support team.
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ForexMart wishes you Merry Christmas and Happy New Year!

Dear Clients,

New Year is a time of summing up and beginning of new achievements. And we are proud to say that this year has brought great results: many innovations have been launched and trading conditions and services have become even more convenient and profitable.

We have made a really good job, together with you, our clients. We offered new services for more successful trading, such as CopyTrading system, gave the opportunity to get more profits with new ultra-low spread accounts and made your trading more comfortable with a wide range of new payments methods.

And now we want to thank you for being a part of our effective interaction this year. We wish you happiness, love and good health in the coming year of the Metal Rat. Let luck and success accompany your trade, and the new year will bring financial stability and prosperity!

Merry Christmas and Happy New Year!

Sincerely yours,
ForexMart team
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Note the changes in trading RUB symbols due to Orthodox Christmas

Dear traders!

Please note some changes in the trading hours in observance of the national holiday in Russia on Orthodox Christmas.

We draw your attention to the fact that trading RUB will be unavailable all day long on January 7. Please take this information into account when trading.

The schedule will be back to normal from the following day.
For more information, please contact our support team.

Best Regards,
ForexMart team.
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Note the changes in trading hours on January 20, 2020

Dear traders!

Please pay attention to some changes in trading hours due to the celebration of Martin Luther King Day, a national holiday in the US.

On Monday, January 20, spot metals (GOLD, SILVER, XAUUSD) and US CFDs trading will be closed earlier than usual at 08:00 p.m.

Trading hours for other financial instruments remain unchanged. However, there can be low liquidity on the market during that period. Trading schedule will be back to normal from the following day.

If you have any questions, do not hesitate to contact our Support Service.
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