News | Forex Optimum

News

News

China boosts support for businesses as commodity prices surge

CNBC reports that the global surge in commodity prices is adding another burden to China’s small businesses. In a sign of how severe the problem is, Chinese Premier Li Keqiang and other leaders emphasized they would increase support for privately run businesses — first, in the persistent issue of getting financing, and second, for coping with rising prices of raw materials.

The statement marked the latest central government announcement in the last few weeks on record high commodity prices, as authorities rush to limit the negative impact on the economy.

If businesses selling to consumers keep prices steady in order to remain competitive, the rise in commodity prices will cut into profit margins.

Already, on Thursday, China’s statistics bureau said industrial profit growth slowed to a 57% year-on-year increase in April, down from 92.3% in March. Although these figures are distorted by the contraction of the economy in the first quarter last year, the bureau noted the negative impact of rising commodity prices, among other factors.

You may also be interested:

17:58 27.07.2021
Fed is seen sticking to its accommodative stance - UOB
FXStreet reports that Lee Sue Ann, an economist at UOB Group, offers her view on the upcoming FOMC meeting (Wednesday).“The “talk about the talk” about QE tapering and updated dot plot during the June FOMC could set in motion for taper discussion.”“We expect the Fed to keep its current policy stance unchanged in the July FOMC and the Jackson Hole Symposium (26 August) could see the first hint of taper and we expect first taper to be done in December 2021.”
17:36 27.07.2021
EUR/USD: Three reasons to go long here - Citi
eFXdata reports that Citi's FX technicals flag their bias for EUR/USD upside:"i). the divergence between real yields and the USD-index, ii). triple negative momentum divergence on the USD-index ahead of pivotal resistance, and iii). momentum flagging ahead of good supports on EURUSD".
17:18 27.07.2021
U.S. consumer confidence unexpectedly improves in July
The Conference Board announced on Tuesday its U.S. consumer confidence edged up 0.2 points to 129.1 in July from 128.9 in June. This was the highest reading since February 2020.Economists had expected consumer confidence to ease to 123.9. June’s consumer confidence reading was revised up from the originally estimated 127.3.The survey showed that the present situation index rose from 159.6 in June to 160.3 this month. Meanwhile, the expectations index edged down from 108.5 last
Deposit
options
Trading
platform
download
Bonuses VIP