Thread: Company News by ForexMart

Bank of Canada to Maintain 0.5 Percent Benchmark Rate

The Canadian central bank will release on Wednesday the economic outlook of the country, however, the decision to kept the interest rate unchanged at 0.5 percent remain indecisive.

According to a combined forecast of 22 experts surveyed by Bloomberg News, they expect the Bank of Canada (BoC) would maintain its 0.5 percentage rate.

The latest adjustment made by the BoC was during mid-2015 with a 0.25 percentage point spearheaded by the decline in commodity costs.

The focus turned to the up-to-date report of Monetary Policy which is published quarterly which provide a breakdown of the predicted economic performance of Canada. While figures suggest a stable condition for the region considering the favorable January Gross Domestic Product which is the most recent monthly GDP available. The stat showed that there is a possible four percent growth within this year.

The semi-annual assessment further projected that the country will rose by 2.1 percent amid 2017-18.

Economists had guesstimate whether the financial institution will reach that point. Alongside the strong GDP, the employment growth has seen to strive gathering some steam.


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Trump Targets to Revamp Wall Street Reform Law

Trump administration intends to revise the Dodd-Frank Wall Street reform law and changes its rules including an overhaul in bank stress-testing rules, Consumer Financial Protection Bureau's supervisory powers and loosen securities regulations. Earlier this year, Trump commanded reviews in the major banking rules after the 2008 financial crisis as they plan to change the majority of it and even eliminate some of it.

These changes require congressional action although some cases would undergo negotiations through the formal ruling. It is already anticipated not to be completed in the near term as there are other aspects focused on such as the tax reform and health care program.
Treasury Secretary Steve Mnuchin has announced that the proposal report concerning feasible regulatory and legislative changes are to be released in June which will serve as a backbone to revisions. Also, the House of Representatives Financial Services Committee Chairman, Jeb Hensarling, stated that a new draft will be publicized by the end of the month.

To Our Beloved Clients,

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All the best,

ForexMart Team

Dear Client,

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All the best,
ForexMart Team


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The current Money Fall contest has already started on April 17, 2017 and will end on April 21, 2017.

You can register for the next competition which will take place from April 24, 2017 to April 28, 2017

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

New Zealand Inflation Came in Strong in the First Quarter

The inflation rate of New Zealand soared unexpectedly as much as 2.2 percent in the first quarter which is the top-level over five years. Yet, the central is still committed keeping the interest rates low. Hence, the consumer price index (CPI) hovered in the middle range of the Reserve Bank of New Zealand's (RBNZ) within the 1 to 3 percent target range which they have attempted to lift higher for more than a year. The CPI ascended to 1 percent in the first quarter exceeding the expected 0.8 percent which also transposes the annual growth of 2 percent by analysts.


This hike in inflation was influenced by short-term gains because of high oil and food prices, a tax hike on alcohol and tobacco and the increasing costs of housing construction. The inflation is ascending although at a sluggish pace which keeps the RBNZ heedful according to the senior economist of the Australia and New Zealand (ANZ) bank.


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March and June Fed Rate Hikes Possible, According to Economists

Several economists are speculating that the US Federal Reserve could possibly be in for two more rate hikes this coming March and June, with the central bank possibly increasing its short-term rates within the week and another rate increase during the Fed’s meeting this coming June. Fed officials have maintained their current rates after they increased their federal funds rate last December 2016. The central bank had already penciled in a total of three possible hikes for this year but refused to indicate the exact date of the implementation of these said rate hikes.


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The current Money Fall contest has already started on April 24, 2017 and will end on April 28, 2017.

You can register for the next competition which will take place from May 1, 2017 to May 5, 2017

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

China’s Bullish GDP Growth Stabilizes Yuan

The first quarter data of China has come out after a solid positive gain causing a slowdown in capital outflows to stabilize the currency following a selloff last year. They are optimistic to attain the 6.5 percent GDP growth for this year as mentioned by the Finance minister Xiao Jie. This is a good signal indicating the strengthening of yuan and capital flows are gaining back by the country.

The interest rates are moving in an upward direction despite tighter policies to curb the fast growth of credit hampering the economic progress. Yet, economic growth advanced faster-than-expected 6.9 percent in the first quarter, weakening capital outflows and more stable cross-border flows have strengthened yuan substantially. This has then eased the pressure regards to Foreign exchange reserves as it retreated with the surge of the greenback.

However, further tightening cannot be ruled out as it may change again abruptly especially when the currency come again under pressure with the global appreciation of the U.S. dollar.


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Asian Stocks Abated Due to High Risks

The appeal of Asian stocks to investors has subsided because of political and economic risks that overshadowed continuous returns over the past 26 years. Asian business has been good in the second half last year up to early this year and is the impetus is slowing down soon.

This put the Asian equities for a sell-off as investors have become cautious compared a few months ago. Moreover, political elections in Europe and profit taking in the U.S. bring in corrections that are not good. Another concern is the decline in cyclical upswings in China and the United States which has a big effect on global trading including equities of Emerging market.

Nevertheless, investors do not totally leave despite the high costs of stocks compare to other emerging markets but are still lesser cost than developed markets. The analysts forecasted earnings to rise by 17% this year.


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