The dollar continued to rise on Thursday, reaching levels not reached in 24 years against the yen and close to parity with the euro, amid speculation by traders that the Federal Reserve will raise interest rates to combat inflation. Global economic turmoil pushed the dollar’s price to rise sharply as …
Read More »European shares fall, Italy shares fall on political fears
European shares fell on Thursday, affected by increased expectations that the Federal Reserve will raise interest rates again after a sharp rise in the inflation rate in the United States, while the main index in Italy fell 1% as the risk of a government collapse increased. The pan-European Stoxx 600 …
Read More »Euro hovers above parity against USD Ahead of US inflation data
The euro hovered above parity with the US dollar on Wednesday as traders focused on US data due later on Wednesday that is expected to show inflation at a 40-year high. European stocks witnessed a decline and the currency markets were calm in early European trading, with the dollar index …
Read More »Gold stabilizes as investors await indications from US inflation data
Gold prices settled near their lowest levels in more than nine months on Wednesday, as investors awaited US inflation data for indications of the Federal Reserve’s monetary policy stance. And gold settled in spot transactions at $ 1725.83 an ounce by 0543 GMT, after falling to its lowest level since …
Read More »EU gives Croatia green light to adopt euro in 2023
EU finance ministers on Tuesday gave Croatia the final green light to adopt the euro on January 1, 2023. “I would like to congratulate my counterpart, Zdravko Maric, and the whole of Croatia for becoming the 20th country to join the euro area,” said Zbynek Stanjura, the finance minister of …
Read More »European stocks fall as fears of an economic recession grow
European shares extended losses for the second consecutive session on Tuesday, weighed down by fears of a lack of energy supplies, while a rise in COVID-19 infections in China exacerbated fears of a global economic recession. The decline included most sectors such as healthcare, technology and luxury products. The oil …
Read More »Japanese stocks fall on recession fears after COVID-19 cases surge
Japanese stocks fell on Tuesday as a surge in domestic COVID-19 infections sparked fears of a recession and led to a morning sell-off. The Nikkei index closed down 1.77 percent at 2,6336.66 points, after losing as much as 1.99 percent earlier in the session. The broader Topix index fell 1.64%. …
Read More »Euro To Stay Low In The Near Term
The EUR/USD pair hit new cycle lows on Monday at 1.0050 as it is set to continue to approach parity. The next half of 2022 is unlikely to foster conditions for euro appreciation as the European economy could be in a technical recession, explained analysts at National Bank of Canada. …
Read More »The dollar rises to its highest against the yen
The dollar rose to a 24-year high against the yen on Monday after good results from Japan’s ruling conservative alliance signaled no change in loose monetary policies and global growth concerns boosted the dollar as a safe haven on a broader scale. The dollar rose to 137.28 yen in morning …
Read More »Nikkei closes higher after Japan’s coalition government strengthened its majority in parliament
Japan’s Nikkei index closed higher on Monday after Japan’s coalition government consolidated its majority in the upper house of parliament in Sunday’s election. The Nikkei closed up 1.11 percent at 26,812.30 points, after climbing as much as 2 percent earlier in the session to its highest level since June 13. …
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