eurozone

EUR shows strength amid ECB rate cut uncertainty

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EUR shows strength amid ECB rate cut uncertainty

The EURUSD pair is holding near 1.0900 in European trading due to investors’ higher risk appetite. The European Central Bank is expected to start reducing interest rates from the June meeting, but policymakers are divided over a rate-cut move in July. The focus will shift to the Eurozone and U.S. preliminary Purchasing Managers Index data for May. Fed policymakers are expected to maintain a hawkish stance on interest rates despite a decline in price pressures. New York Fed Bank President John Williams believes the monetary policy is in a good place and sees no need for changes at the moment.

As wealth inequality rises in Cyprus both people and democracy suffer

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As wealth inequality rises in Cyprus both people and democracy suffer

Cyprus households have a median net wealth of €200,400 in 2021, with the top 10% holding 46.1% of the net wealth. Wealth inequality is increasing, with the Gini coefficient for wealth distribution rising. Inheritance and bequests are a major factor in explaining wealth inequality. Returns to capital have grown faster than returns to labor, leading to greater wealth accumulation by households owning capital. High wealth inequality has profound socioeconomic effects and political consequences in shaping election outcomes and policies.

A hidden factor impacting gold, and it ain, ’t CPI

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A hidden factor impacting gold, and it ain, ’t CPI

Gold prices are fluctuating as traders speculate on a potential rate cut by the Federal Reserve in September. Inflation data in the US is showing signs of improvement, impacting the Fed’s monetary policy decisions. Smart money is paying attention to the shift from a dollar-denominated trade system, with countries like China and Russia increasing their gold reserves to support their currencies. The price of gold is approaching all-time highs and is expected to continue its upward trend as long as it stays above the 50-day simple moving average.

Eurobank Group reports robust first quarter results

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Eurobank Group reports robust first quarter results

Eurobank Holdings released its financial results for the first quarter of 2024, showing significant growth and robust performance. Adjusted net profits in Cyprus and Bulgaria improved substantially, with Cyprus reaching €92 million.

Bank of Cyprus Q1 profits stable at , €133 mln

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Bank of Cyprus Q1 profits stable at , €133 mln

Bank of Cyprus Holdings announced €133 million in first quarter profits, up 40% year-on-year but €5 million short of the previous quarter’s after-tax profits.

Dollar tumbles on soft inflation, weak retail sales

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Dollar tumbles on soft inflation, weak retail sales

The EURUSD pair reached a monthly high near 1.0870 as the US Consumer Price Index eased and Retail Sales remained stagnant in April.

CBC looking to improve its governance, president hears

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CBC looking to improve its governance, president hears

Central Bank of Cyprus governor Christodoulos Patsalides met with President Nikos Christodoulides to brief him on an impending reorganization aimed at bolstering the CBC’s governance.

USD weakens on poor NFP data, slower wage growth

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USD weakens on poor NFP data, slower wage growth

The USD weakened on Friday as the U.S. Bureau of Labor Statistics reported weak labor demand and slowing wage growth in April.

Fed expected to refrain from further rate hikes

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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

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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.