Nikkei news agency reports that Apple Inc corporation, as predicted, will reduce the production volumes of its main smartphone iPhone about by 30% in January-February. The main reason - huge reserves in warehouses, and reduced demand for the product.
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Today we have witnessed the worst start of the year for Chinese stocks. The sharp fall in the market has led to suspension of trading by more than 7 trillion options, stocks and futures. This allowed for the first time to try a new automatic system of stopping the trade.
The index of Chinese industry, as it was predicted, is decreasing the fifth consecutive month in December. According to the report of Reuters, such rates of reduction point to the smallest annual increase in one of the largest economies in the world for a quarter century. The main Purchasing Managers' Index in December, is expected to grow from 49.6 to 49.7. These data were prepared on the results of interviews with 27 economic experts.
US banks were involved in the oil market, it threatens them with new, more stringent stress tests next year. This behavior further emphasizes the impact on price policy of crude oil not only in the energy sector but also in the financial. In its recent forecast the OPEC lowered expectations for oil demand, and announced that the price of crude oil can not return to the levels of $100 up to 2040.
OPEC, in its recent report to World Oil Outlook tried to predict the dynamics of oil for the next 25 years. The organization's experts estimate the current cost of barrel in $31, in 2020 oil prices may cost $80, by 2030 price will increase to $123, and in 2040 - up to $160.
The Japanese yen rose amid falling Japanese standard bonds to a record low of the last ten months. This is due to the decision of the Bank of Japan about increasing the range of assets purchasing program. The national currency of Japan increased by 0.5% to 121.92 per US dollar to 6:15 GMT.
Economic activity in China shows unexpected strength, industrial production growth reached a record high of the last five months. It can be noted that Beijing's stimulus measures give results, and gradually strengthen the weak economy.
Leading economic historian Barry Eichengreen of the UoC, Berkeley, said that the Fed chief Janet Yellen and the other voting members of the board should seriously think about increasing interest rates amid falling commodity prices. "I would have thought a few times before acting", - says Eichengreen in an interview to Bloomberg.
Last Friday, US stocks (the S&P 500 and Dow Jones) showed record growth during one day for almost three months. This behavior was due to the fact that investors viewed strong employment data in the US as the next evidence of decisive action of the Fed on rate increases this month. On the other hand speech by ECB President Mario Draghi about that central bank is ready to increase stimulus in case of need, gave impetus to the single currency up more than 400 pips.
According to conclusions of experts, the data on employment are not particularly strong influence on the Fed rate increase. Voting members of the board of the Federal Reserve has repeatedly hinted at fact that increase of interest rates nevertheless will held in December.