euro

Fed expected to refrain from further rate hikes

by
Fed expected to refrain from further rate hikes

The EURUSD pair is gaining ground due to positive market sentiment and dovish remarks from Federal Reserve Chairman Jerome Powell. Powell dismissed the likelihood of a further interest rate hike and mentioned that progress on inflation has stalled. Traders are awaiting US economic data releases, while the Eurozone may struggle due to a more dovish stance from the European Central Bank. Eurozone inflation held steady in April, with bets for a potential interest rate cut by the ECB in June.

Investors scour the globe for shelter as Wall Street shakes

by
Investors scour the globe for shelter as Wall Street shakes

Global investors are looking at European and emerging market assets to protect themselves from turbulence in US stocks and bonds due to stubborn inflation.

Two plus one critical missions – Migration, Cyprus problem, and “Amalthea”

by
Two plus one critical missions – Migration, Cyprus problem, and “Amalthea”

– Nikos Christodoulides and Ursula von der Leyen are traveling to Lebanon to address the migration issue with a 400 million euro assistance package.
– The completion of the Gaza pier is imminent, allowing for humanitarian aid shipments to resume.
– María Angela Holguín Cuéllar’s visit to Cyprus is crucial for addressing the Cyprus problem and potentially restarting talks.

German economy skirts recession, helped by construction and exports

by
German economy skirts recession, helped by construction and exports

The German economy grew more than expected in the first quarter, with gross domestic product rising 0.2 per cent. The economy skirted a recession thanks to the construction sector and exports.

Eyes on Eurozone inflation and GDP

by
Eyes on Eurozone inflation and GDP

The text discusses market updates including GDP data for the Euro area and Germany, US economic docket, US Dollar performance, US Treasury bond yield, Japan’s intervention in foreign exchange markets, EURUSD gains and losses, Retail Sales data from Germany, Private Sector Credit and Retail Sales data from Australia, PMI data from China, AUDUSD performance, GBPUSD performance, and Gold price movements.

Euro gives up gains ahead of US, Eurozone data

by
Euro gives up gains ahead of US, Eurozone data

The EURUSD pair is struggling to hold above the round-level resistance of 1.0700 in European trading as investors await key economic indicators in the Eurozone, including preliminary Q1 GDP and CPI data. ECB policymakers have differing opinions on interest rate cuts, with some expecting cuts to start in June and potentially continue at a pragmatic pace, while others are concerned about higher service inflation and are not convinced that inflation will return to target in a timely manner. In Monday’s session, investors focused on German preliminary inflation data for April.

Greece convicts six and clears 15 over deadly blaze

by
Greece convicts six and clears 15 over deadly blaze

A man was convicted of involuntary arson for his role in Greece’s deadliest wildfire in memory, and five former fire officials were found guilty of misdemeanours linked to their response to the 2018 blaze.

Cyprus government and banks piling-up cash

by
Cyprus government and banks piling-up cash

By end-February 2024, the government had accumulated cash deposits of over €3.5 billion at the Central Bank and €2.1 billion at commercial banks.

Germany needs an economic turnaround, says finance minister Lindner

by
Germany needs an economic turnaround, says finance minister Lindner

Germany’s economy was the weakest among its large euro zone peers last year, facing challenges like high energy costs and record high interest rates. The International Monetary Fund has cut its GDP forecasts for Germany, expecting 0.2% growth this year and 1.3% in 2025. German Finance Minister Christian Lindner emphasized the need for an economic turnaround to secure the country’s geopolitical position, especially in the face of Russian President Vladimir Putin’s aggression towards Ukraine. Lindner highlighted that economic strength plays a crucial role in geopolitics.

Cypriots more pessimistic, but trust EU and Euro

by
Cypriots more pessimistic, but trust EU and Euro

Cypriots are pessimistic about the future, the economy, and geopolitical crises, but maintain trust in European institutions and the single currency. The two traditional political parties, DISY and AKEL, are expected to dominate the upcoming elections for members of the European Parliament, mayors, and councillors. DISY is in the lead for the election of the six MEPs with 20%, followed by AKEL with 19%.