interestrates
The European Central Bank (ECB) is treading carefully on potential interest rate cuts, opting to approach its September meeting with an open mind and guided by a broad evaluation of forthcoming economic data. Essentially, it shouldn't be taken for granted that a rate cut will be delivered at the 12 September monetary policy meeting in Frankfurt, in stark contrast to market expectations, which largely anticipate a rate reduction next month. This cautious stance is detailed in the recently published account of the ECB's monetary policy meeting held on 17-18 July 2024. The document reflects a sen...
Euronews (English)
Sweden's Riksbank cut its key interest rate from 3.75% to 3.50% on Tuesday, the second time borrowing costs have been lowered this year. Policy makers added that they are considering as many as three more reductions in 2024, provided that price pressures remain under control. In June, the bank’s approach was slightly more cautious, proposing a maximum of three rate cuts - which includes the one seen today. "The prime driver of the reduction is the decline of the Swedish inflation rate … which is close to the inflation target of the Riksbank of 2%," said Lars Jonung, professor emeritus at the K...
Euronews (English)
It’s been a wild ride in the markets in recent days. The United States Federal Reserve is forecast to cut interest rates in 2024, but uneven inflation prints and a somewhat contradictory jobs market have created a lack of consensus on the total number of rate cuts for the remainder of the year. As we contemplate where the market goes from here, speculation remains around the question of what the Federal Reserve has in store. So what are some potential outcomes from interest rate cuts? Let’s explore the impact on a few areas of the crypto industry. Return of risk-on assetsAs rates come down, th...
Cointelegraph
Global stock markets are on track for a positive close this week, buoyed by continued dip-buying following the intense selloffs at the beginning of August. Risk-on sentiment has resumed amid positive economic data worldwide, easing recessionary concerns. Cooler-than-expected inflation data from the UK and the US have also reinforced expectations for a lower-rate environment. EuropeEuropean stock markets experienced a broad rally this week, with the Euro Stoxx 600 up by 2.47%, the CAC 40 rising by 2.11%, the DAX advancing by 2.60%, and the FTSE 100 climbing 2.19% over the past five trading days...
Euronews (English)
Year-over-year US inflation reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and giving hope that the Federal Reserve may cut the interest rate in September. Measured from a year earlier, prices rose 2.9% in July, down from 3% in June. It was the mildest year-over-year inflation figure since March 2021. Inflation has taken a central role in the presidential election, with former President Donald Trump blaming the Biden administration's energy policies for the price increases. Presidential-hopeful Harris to put forwa...
Euronews (English)
Asian markets experienced a broad-based rally on Friday following the rebound on Wall Street. However, global benchmarks may end the week on a mixed note due to Monday’s sharp decline. Although sentiment has somewhat recovered, the significant swings in stocks suggest that volatility may not yet be over. EuropeThe market sell-offs were broad-based due to the prevailing risk-off sentiment earlier in the week. Most European stock markets remained in the red on a weekly basis, with the Euro Stoxx 600 falling by 2.65%, the CAC 40 sliding by 0.06%, and the FTSE 100 down by 0.36%, while the DAX rose...
Euronews (English)
The S&P 500 climbed 1% to break a brutal three-day losing streak on Tuesday. It had tumbled a little more than 6% on a raft of concerns, notably worries the Federal Reserve had pressed the brakes too hard for too long on the US economy through high interest rates in order to beat inflation. The Dow Jones Industrial Average rose 294 points, or 0.8%, while the Nasdaq composite gained 1%. Stocks of all kinds climbed in a mirror opposite of the day before, from smaller companies that need US households to keep spending to huge multinationals more dependent on the global economy. Stronger-than-expe...
Euronews (English)
The construction industry in the eurozone is suffering from weak demand that has led to a raft of job losses and cost-cutting measures. That's according to a report released by S&P Global and Hamburg Commercial Bank on Tuesday. The Construction PMI Total Activity Index, a seasonally-adjusted indicator that tracks monthly changes in the construction sector, came in at 41.4 this July. In June, this total was recorded at 41.8. ECB’s Lagarde keeps September rate cut contingent on dataEurozone inflation rises again in July: Are ECB rate cuts at risk?Tuesday's report shows that construction output i...
Euronews (English)
Ethereum’s native token, Ether (ETH), is undergoing a sharp bounce after dropping to its eight-month low on Aug. 5. Interestingly, this rebound shows similarities with the one in October 2023 that preceded a 168% price boom. Has ETH price already bottomed?As of Aug. 6, the ETH/USD pair showed signs of bullish reversal after rebounding from a support confluence comprising the lower trendline of its prevailing ascending channel pattern and the 200-week exponential moving average (200-week EMA; the blue wave). Simultaneously, the bounce accompanies a rise in Ether’s weekly relative strength index...
Cointelegraph
Global stock markets have plummeted as fears grow that the US Federal Reserve may have left it too late to begin cutting interest rates posing a major risk to the world's largest economy. Shares in Asia tumbled, Japan's benchmark Nikkei 225 index sank 5.8% on Friday in what some reports said were the worst single-day loss since Black Monday of 1987. The drop of more than 2,000 points to its close at 35,909.70 left the index near where it was in January, erasing huge gains that had taken the Nikkei index past the 40,000 level as enthusiasm for artificial intelligence drove shares in computer ch...
Euronews (English)
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