InterestRates
ValueWalk
Eurozone inflation surged in May, surpassing economists' expectations just days before the European Central Bank (ECB) is set to convene to announce the first interest rate cut in four years. According to preliminary data from Eurostat, the harmonised index of consumer prices (HICP) in the eurozone rose by 2.6% year-on-year in May, up from 2.4% in April and exceeding the forecast of 2.5%. This marks the first increase in the annual inflation rate since December 2023. On a monthly basis, the HICP climbed by 0.2%, a slowdown from April’s 0.6%. Notably, energy inflation turned positive at 0.3% ye...
Euronews (English)
Equity markets across the globe were in retreat as inflation signaled a possible resurgence, sparking concerns about likely “higher-for-longer” interest rates. Profit-taking could also be the cause of such a pullback amid an uptick in global government bond yields after major indices hit all-time highs on both sides of the Atlantic. The retracement is primarily seen in the mining sector in Europe due to a sharp decline in copper prices. The US technology stocks also added to the market losses after a 20% plunge in Salesforce’s shares following a disappointing earnings report on Thursday. Europ...
Euronews (English)
ValueWalk
There are indications that the European Central Bank (ECB) may be planning to cut interest rates at its meeting next month. In an interview with the Financial Times, the ECB's chief economist Philip Lane said: "Barring major surprises, at this point in time there is enough in what we see to remove the top level of restriction." If there is a cut at the 6 June meeting, which takes place as the European elections are being held, it would mean the ECB would be cutting its rates ahead of any other major central banks. It had came under criticism for being too slow to raise them after inflation sur...
Euronews (English)
ValueWalk
Annual pay growth excluding bonuses averaged 6% between January and March, unchanged from last month according to figures from the Office for National Statistics (ONS). It had been expected to slow to 5.9% between January and March. Taking inflation - which measures the pace of price rises - into account, wages were up by 2.4%. Unemployment, meanwhile rose to 4.3% between January and March, the highest for almost a year, the ONS said. The number of vacancies also slowed meaning more unemployed people are competing for the same jobs. Liz McKeown, the ONS's director of economic statistics, said:...
Euronews (English)
The euro, serving as the official currency for 20 members of the European Union, has experienced a notable devaluation against the US dollar, declining approximately 2.2% since the start of 2024. Despite a recent minor uptick in the euro's value, the exchange rate between the two currencies, denoted as EUR/USD, has lingered at historically low levels, hovering just below 1.08 as of 14 May. This decline in the euro's strength can be largely attributed to a pronounced discrepancy in monetary policies pursued by the European Central Bank (ECB) and the US Federal Reserve (Fed), resulting in a wide...
Euronews (English)
Gold has surged by 14% year-to-date, outpacing the 10% rally of the S&P 500 this year. Gold futures peaked at an all-time high of $2,413 per ounce on 19th April, while spot gold reached a fresh peak of $2,1392 per ounce on the same day. Following a two-week retracement, the precious metal's price saw a swift rebound last week, rising by $60 per ounce to surpass $2,360 on Monday. It's notable that gold's price was just above $1,800 per ounce at its recent lows in early October 2023. From an investment perspective, gold is typically favoured during uncertain times, such as financial crises, war,...
Euronews (English)
ValueWalk
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