takasuu/iStock via Getty Images Overview Stronger-than-expected eurozone GDP strengthened the sense that a nascent recovery may be taking hold and has given the euro a bid in the European morning. The dollar (DXY, USDOLLAR), though, is enjoying a firmer tone against the other G10 currencies today. Australia’s unexpected weakness in retail sales has weighed on…
Walter Bibikow By Carsten Brzeski & Francesco Pesole Everything looked so easy for the ECB. Last week’s meeting had not only opened the door widely to a June rate cut, but upcoming data releases with some softening of wage growth and inflation would allow the ECB to walk through that door. The ECB’s own inflation…
Photofex Author’s Note This simulation has been done jointly with a U.S. Treasury yield simulation in a way that reflects the correlation among the 12 factors driving yields in each country. For more on the companion U.S. Treasury simulation, please contact the author. Both the Bund and the U.S. Treasury yield simulations impact foreign exchange…
mikroman6/Moment via Getty Images European equities have quietly performed well along with US stocks. While 2024 has featured a return to what drove markets over the first seven months of last year, AI and the growth trade, what is a bit different this time is that we are not seeing significant negative alpha among the…
To uphold the token’s value, stablecoin issuers often reserve cash or liquid assets. Amid rising interest rates, DWS is poised to manage the reserves for the new stablecoin. Deutsche Bank’s DWS Group, along with Dutch market maker Flow Traders Ltd. and crypto fund manager Galaxy Digital Holdings Ltd, is set to establish a new entity…
Unlike what JPMorgan offers with its JPM Coin, the EUR ConVertible will be available for trading, thus opening up immediate access for a wide range of investors. Societe Generale, the third-largest bank in France is set to launch its EUR CoinVertible stablecoin on the crypto exchange Bitstamp. The move represents a pioneering effort by the…
Binance is currently in the process of finding partners for dealing with fiat transactions in the UK, as British users are still unable to deposit GBP. Leading global cryptocurrency exchange Binance has successfully onboarded fresh fiat partners to facilitate euro transactions after halting the services earlier this year due to regulatory challenges. In an official…
selamiozalp/iStock via Getty Images There are many analysts who have moved to the forecast that in the next six months or so, the U.S. dollar price of the Euro will drop to $1.00 or so. There seem to be two major reasons for the feeling that the price will decline from about $1.0530 to “parity”….
Euro zone inflation has reduced to its lowest point in nearly 2 years after the European Central Bank hiked rates for the 10th time. The euro zone annual inflation level fell to its lowest this month, since October 2021. Annual inflation fell to 4.3%, down from 5.2% in August. Also, core inflation fell from 5.3%…
baona Overview The US dollar is trading with a firmer bias against all the G10 currencies ahead of today’s August US CPI report. Even increased speculation that the ECB will hike rates tomorrow has failed to lift the euro, while a larger than expected contraction in the UK’s July GDP pushed the sterling briefly through…
Mike_Pellinni/iStock via Getty Images The diverging economic performance between the US and Europe, Japan, and China on the other hand is stark. Yet, a greater divergence may be between widespread discussion of de-dollarization and its incredible strength in the foreign exchange market. The eight-week rally in the Dollar Index (DXY) is the longest in nine…
IBM said that simplicity will play a crucial role in the initial adoption of Digital Euro, emphasizing that familiarity strengthens this process. As we know, the European Union has been working on its own central bank digital currency (CBDC) aka Digital Euro, and has been receiving consultations from global tech players. Tech giant IBM has…
Zhanna Hapanovich By Sandrine Soubeyran and Robin Marshall, Global Investment Research, FTSE Russell Euro high yield (HY) credits have outperformed Euro investment grade (IG) corporate bonds, and those of other regions, both in July and since the beginning of the year. The FTSE Euro High Yield Bond index was up 1.3% and 6.5% respectively in…