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  1. #251
    Senior Investor Andrea ForexMart's Avatar
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    Trump Proposed 45 Percent Cut in Mexico Aid from U.S. Spending

    On Tuesday, the U.S. spending reserved for foreign aid for Mexico and Central America are to be reduced as proposed by the President Donald Trump. The budget was proposed to trim as much as $3.6 trillion government spending in the following ten years for 2018 budget proposal.Although, this may not get a legislative approval as to how it is currently with other departments cuts especially in the State department.

    Mexican aid worth $87.66 million will be lessened over 45 percent from the 2016 expenditure when Trump's proposal is approved. The budget cut will be transferred to the Mexican military including counterterrorism funds and other government programs. One of the officials commented that these deals are focused on bolstering border security and fight against corruption that may have hindered transnational criminal organizations. There will be a meeting to discuss the employment and security concerns in Central America in June.


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  2. #252
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    Trump Calls for Investigation Following Manchester Leaks

    US President Donald Trump has already called for an investigation regarding the “Manchester leaks” in order for the US government to determine how top-secret information were able to make their way towards the headlines of news reports, when these sets of information were actually only divulged to the key allies of the British government. Several UK officials have already expressed their dismay and disappointment with regards to this particular matter, among them being UK Prime Minister Theresa May. The bombings in Manchester last Monday night had killed a total of 22 people and has left more than 100 people with injuries. The victims were attending a pop concert before the bombings occurred.


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  3. #253
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    Drop in Oil Prices Discontented Investors in its Low Figure

    Oil prices declined by 5 percent following the extension of production cuts by Opec causing other oil producing countries to be dismayed who are expecting a bigger reduction. Consequently, crude prices dropped to the highest percentage drop since early March.


    During the last OPEC meeting, they reached an agreement to prolong supply cuts constitute of 1.8 million barrels per day until the first quarter ends next year and investors are anticipating around half a million extra barrels to be contracted. However, Saudi Arabia’s energy minister, Khalid Al-Falih said that other ministers find it unnecessary to lessen the output further and nine months is the “optimum” duration.

    On the other hand, U.S. shale producers are motivated to provide more supplies because of the cheap cost of oil at $50 bpd. Although, they have to be careful since it could exceed the target increase and bring down further the price, stated by the Texas shale oil producer president David Arrington.


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  4. #254
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    Fast Track Economic Recovery of India in the First Quarter

    The economy of India is considered as the fastest developing major economy globally in the previous quarter, induced by positive performance in manufacturing and services. For short-term, the demonetization has affected the demand but was able to recover. The forecast for this year ranged between 6.5 and 7.8 while the actual data achieved a 7.1 percent growth from January to March this year. It has significantly risen from last year’s Q1 growth of 7.9 percent.

    The upswing in the economic growth was mainly pushed by positive domestic factors taking into account a notable progress of the central bank easing of policy rate into lending rates of financial institutions that made investment appealing to investors. Moreover, the infrastructure spending has substantiated growth and probability for better agricultural output when the monsoon rains become beneficial.

    On the other hand, the goods and sales tax (GST) is also anticipated to contribute to the economy as its removal will encourage more businesses in India. This will be implemented on July 1st.


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  5. #255
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    Asian Market Weakened as it Traded Sideways

    The stock markets of Asia were unsteady on Tuesday since investors hovered in the sideline prior the publication of the raft of economic statistics scheduled this week. While, the Taipei market coupled with Shanghai, Hong Kong are not in operation due to a holiday.

    Moreover, the Nikkei 225 of Tokyo declined by 0.5 percent to 19,576.19, seeing the Kospi of South Korea to plunged to 0.6 percent to 2,338.21, S&P/ASX 200 of Australia lower down by 0.1 percent to 5,701.60. Likewise, Singaporean market had a dip along with the Philippines and New Zealand but the Indonesian benchmark surge.

    Jingyi Pan, a market strategist at IG based in Singapore, said that the Asian house market is projected to maintain its thin volumes which start in the countries of China, Hong Kong, and Taiwan which are all closed in consideration of the market holiday.

    The data were to be issued this week would likely offer some hints for the investors about the current state of the international economy. Investors anticipate for the consumer confidence index along with the eurozone business data later this day.

    On the energy sector, the benchmark for US crude dropped 4 cents up to $49.76 a barrel in electronic trading on the New York Mercantile Exchange. The contract had increased by 90 cents up until $49.80 per barrel yesterday. The Brent crude further decreased by 20 cents till $52.44/barrel in London.


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  6. #256
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    Default Company News by ForexMart

    The current Money Fall contest has already started on May 29, 2017 and will end on June 2, 2017.

    You can register for the next competition which will take place from June 5, 2017 to June 9, 2017.

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

    Andrea ForexMart, Official Representative


  7. #257
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    US Budget Concerns Casts Doubt on Fed Plans

    The US Federal Reserve is more than ready to raise its interest rates this coming June, but the possibility of the Congress rattling up the markets by slowing down progress on increasing the debt ceiling of the US economy has cast a shadow of doubt on the Fed’s next scheduled rate hike on September. Prior to this development, the Fed has been saying that they are currently planning to implement two more rate hikes before the year ends, but has now reverted to saying that the third rate hike for year might be in for some delays if the market gets shaken by possible disagreements on fiscal policies.


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  8. #258
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    Slow Growth of Scottish Economy, EY reports

    Based on the forecast of the EY Scottish item club that the GDP growth will be weak falling below expectation with 0.9% growth this year where a half of it is expected for the Britain and will predominantly hit the retail sector. It is anticipated to fall by 0.1% this year and will decrease in a bigger number by 0.5% and 0.3% in 2018 and 2019 respectively.

    Consumers will be greatly pressured from this which will increase by 1% in 2017 and below 1% in the succeeding years until 2020 while the employment is assumed to drop by fall this year.

    On the other hand, the manufacturing sector will rise following the overall economy for the first time since 4 years ago, because of higher demand and depreciation of sterling which will boost exports.

    Overall, the Scottish economy is foreseen to have a sluggish growth than the Britain by 0.7% in 2018 before gaining its momentum again to reach 1.4% growth within this decade.

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  9. #259
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    Goldman Sachs Higher Rates to Gain More Clients
    The Goldman Sachs Bank U.S.A. intends to increase its rates on client deposit by 1.2 percent from the previous 1.05 percent. The rate hike makes them higher than other financial institutions including CIT Bank, Synchrony Bank, and New York Community Bank's My
    Banking Direct. The average rate is at 0.06 percent 0.06 percent as reported by the U.S. Federal Deposit Insurance Corporation.

    They are searching for ways to improve lending in money management and investment banking category which they said to had a rough time with. In 2016, they introduced Marcus as their primary approach to consumer lending. This rate hike move hopes to expand profit of Goldman Sachs and appeal to additional Main Street clients which will eventually give bigger gains. Also, these deposits open a more robust type of funding and this would have stayed longer during uncertainty.



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  10. #260
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    ECB not yet to Withdraw Stimulus Program
    The European Central Bank decided to loosen its monetary policy on Thursday but indicated that it further needs some support from the central bank amid increasing growth.
    Mario Draghi, ECB president, is very cautious in his announcement regarding the withdrawal stimulus.

    During the meeting held on Thursday which is accompanied by 25 members of the council, the bank kept its interest rates and bond-purchase stimulus program steady.

    The governing council settled small adjustments towards the 19 emerging countries that utilizes the European currency by stating that interest rates could probably move lower. While Draghi issued another significant change as he described that risk to growth is currently “broadly balanced”, the tweak was announced during the April wherein risk are said to "tilted to the downside."

    Carsten Brzeski, analyst at ING-DiBa, allegorize the bank’s statement to a baby’s first step intended to taper the stimulus effort. The financial institution preserved its bond-buying program at 60 billion euros ($67 billion) each month which will last this year or longer.
    Moreover, ECB officials were in a stew for the market’s response to the untimely notice that the stimulus will end as the rates will climb higher, undermining the effects.

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