Annual inflation in the euro area hit a new record after reaching 8.6% in June, in line with expectations, up from 8.1% recorded in May. The inflation rate rose on a monthly basis by 0.8%, also in line with expectations, and it also rose by the same rate in May. …
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 »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 »EUR/USD collapses to twenty-year-lows
The EUR/USD pair collapsed to fresh twenty-year-lows, below the 1.0350 previous low printed on May 13, accelerating towards the 1.0250s region courtesy of a stronger US dollar. The pair loses almost 1.60% during the day.The US Dollar Index advances to twenty-year-highs, above the 106.500 mark, up almost 1.30%, on renewed …
Read More »Eurozone Preliminary Inflation soars 8.6%
The annualized Eurozone Harmonised Index of Consumer Prices (HICP) surged by 8.6% in June vs. the previous reading of 8.1%, the latest data published by Eurostat showed on Friday. The market expected the bloc’s inflation to accelerate by 8.4%. The core figures dropped to 3.7% YoY in June when compared …
Read More »Gold is on its way to record the worst quarter since the beginning of 2021
Gold settled for most of the time Thursday, June 30, but faces its worst quarter since early 2021 as the dollar’s impressive performance deterred investors. spot gold prices settled at $1817.01 an ounce, and US gold futures prices changed little to $1816.90 an ounce. It is expected that gold prices …
Read More »Euro Impacted By Lagarde’s Warning On Inflation
The Euro gave back earlier gains on Wednesday after European Central Bank President Christine Lagarde said the era of ultra-low inflation that preceded the pandemic is unlikely to return.Speaking at a panel at the ECB Forum in Sintra, Portugal, alongside US Fed Chair Jerome Powell and Bank of England Governor …
Read More »Country By Country Inflation Rate Vs Rate Hikes
Today’s hot inflation could be likened to a speeding vehicle down a hill. In order to slow down, there would be a need to push the brakes. In this case, interest rate hikes are more of brakes in this situation, but some major central banks hit the brakes faster than …
Read More »ECB’s Lagarde sticks to rate-hike plans
European Central bank President Christine Lagarde reaffirmed on Monday plans to raise the ECB’s interest rates twice this summer while fighting widening spreads in the borrowing costs of different Eurozone countries.“These decisions underpin our previous commitments to adjust all of our instruments within our mandate, incorporating flexibility if warranted, to …
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