The euro fell below parity against the dollar again as traders dumped the single currency amid renewed fears surging energy costs would cause recession in Europe. The buck’s bounce was Read more
Tag: euro zone
A weaker U.S. dollar helped lift the stock market — but the greenback’s peak may still be ahead
A pullback in the U.S. dollar earlier this week was credited with helping to lift a rallying stock market, but one strategist isn’t convinced U.S. currency has peaked. The dollar Read more
Eurozone retail sales fell in June due to higher prices
Eurozone retail sales fell in June due to rising inflation and declining consumer confidence among households, the European Union’s statistics agency Eurostat said Wednesday. The volume of retail sales fell Read more
Eurozone manufacturing downturn worsens in July, PMI falls below 50
The eurozone manufacturing sector fell deeper into contraction in July, with manufacturing purchasing managers index data signaling the sharpest decline in production since the pandemic lockdowns of May 2020. The Read more
Eurozone 2Q Growth Beats Forecasts Amid Services Rebound
By Maria Martinez The eurozone economy grew at a faster pace than expected in the second quarter as the services sector benefited from the reopening of the economy. Across the Read more
Eurozone Inflation Rose to Record High of 8.9% in July, Beating Forecasts
By Maria Martinez The eurozone’s annual rate of inflation accelerated again in July, reaching its highest ever level. Consumer prices rose 8.9% on year in July after climbing 8.6% in Read more
Eurozone economy will tip into recession this year, Goldman forecasts, as JPMorgan also makes recession call
Goldman Sachs is now forecasting a eurozone recession this year, not just on concerns about Russia turning off the natural-gas taps but also on a slowing in services-side output. Rival Read more
Why Lagarde’s new market intervention tool may not help Italy
The European Central Bank has revealed details of its latest bond-buying intervention mechanism as it seeks to ensure its first tightening cycle in more than a decade doesn’t cause heightened Read more
European Central Bank lifts rates by half point as it delivers first hike in 11 years
The European Central Bank, responding to fears of runaway inflation, delivered its first rate hike in 11 years on Thursday — and made it a big one. The ECB announced Read more
Market Extra: Here’s what to watch as the ECB readies its first rate hike in more than a decade
With inflation at a record high of 8.6% in the eurozone, the European Central Bank is set to make its first interest-rate hike since 2011. But there are real questions Read more