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☆ Federated Hermes: European banking was 'about cost control' over the last year
▼ + stars: | 2024-04-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFederated Hermes: European banking was 'about cost control' over the last yearFilippo Alloatti of Federated Hermes discusses the outlook for the European Central Bank's monetary policy.

Persons: Filippo Alloatti, Federated Hermes Organizations: Federated, Central

☆ Gold shines as geopolitical tensions offset easing U.S. rate-cut bets
▼ + stars: | 2024-04-18 | by ( ) www.cnbc.com time to read: +2 min

An employee holds one kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices climbed on Thursday, as risks of a widening Middle East conflict raised bullion's safe-haven appeal, overshadowing pressures from higher-for-longer U.S. interest rates. Spot gold was up 0.6% at $2,374.97 per ounce, as of 0429 GMT, after hitting an all-time high of $2,431.29 last Friday. Although, "U.S. interest rates remaining higher for a longer may be adding some pressure to the ongoing boost for gold ... Higher interest rates reduce the appeal of holding non-yielding bullion.

Persons: Kelvin Wong, Benjamin Netanyahu, Wong, Jerome Powell, Mario Centeno Organizations: Co, Asia Pacific Locations: Bangkok, Thailand, OANDA, Israel, Iran

☆ ECB's Boris Vujčić: We will 'run our policy independently of the Fed'
▼ + stars: | 2024-04-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailECB's Boris Vujčić: We will 'run our policy independently of the Fed'Boris Vujčić, Croatian central bank governor and the European Central Bank's Governing Council Member, says there have been "obvious divergences between the U.S. and Europe since the start of the inflation cycle."

Persons: Boris Vujčić Organizations: Central Bank's Governing, Member, U.S Locations: Croatian, Europe

☆ ECB's Makhlouf: Expect a change in rates in June in the absence of shocks
▼ + stars: | 2024-04-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailECB's Makhlouf: Expect a change in rates in June in the absence of shocksGabriel Makhlouf, governor of the Central Bank of Ireland, tells CNBC's Karen Tso that he expects a change in the European Central Bank's policy on interest rates, barring any unexpected events.

Persons: Gabriel Makhlouf, Karen Tso Organizations: Central Bank of Ireland

☆ Oil prices head back up on Middle East jitters
▼ + stars: | 2024-04-12 | by ( ) www.cnbc.com time to read: +2 min

A view of an oil well at Arab Desert in Jebel Dukhan, Bahrain on March 4, 2024. Oil prices rose in early trade on Friday on heightened tensions in the Middle East, where Iran has promised to retaliate for a suspected Israeli air strike on its embassy in Syria, which could risk disruptions to supply from the oil producing region. Israel is keeping up its war in Gaza but is also preparing for scenarios in other areas, Prime Minister Benjamin Netanyahu said on Thursday. "The European Central Bank's decision to leave policy rates unchanged ... was expected, but accompanying statements open the door for near-term monetary easing," S&P Global Market Intelligence said in a note. However in the U.S., Federal Reserve officials signalled on Thursday no rush to cut interest rates, as sticky U.S. inflation remains a concern.

Persons: Ayatollah Ali Khamenei, Benjamin Netanyahu Organizations: Brent, U.S, West Texas, Israel, Washington, ANZ Research, Organization of, Petroleum, P Global Market Intelligence, Federal Locations: Jebel Dukhan, Bahrain, Iran, Syria, Damascus, Gaza, Israel, Tehran, Europe, U.S

☆ European stocks set for mixed open as markets digest U.S. inflation data, look ahead to ECB decision
▼ + stars: | 2024-04-11 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are heading for a mixed open on Thursday as global investors digested the latest U.S. inflation data, which came in hotter than expected. European and U.S. stocks traded lower after the U.S. inflation data for March came in at 3.5% year on year, above the 3.4% expected by economists surveyed by Dow Jones and 0.3 percentage points higher than in February. Markets had expected the U.S. Federal Reserve to start cutting interest rates in June, with further cuts expected later this year, but that shifted dramatically following the release, with traders now expecting the first cut in September, according to CME Group calculations. European investors' focus is on the European Central Bank's monetary policy decision Thursday, with the central bank being closely watched for clues that it could start to cut rates in summer.

Persons: Dow Jones Organizations: Markets, U.S . Federal Reserve, Central Locations: U.S

☆ European markets set to open higher as momentum returns
▼ + stars: | 2024-04-04 | by ( Karen Gilchrist | ) www.cnbc.com time to read: 1 min

European markets look poised to open higher Thursday as investors look to build momentum following a shaky start to the new trading quarter. The pan-European Stoxx 600 index closed higher Wednesday, shaking off some of the negative sentiment after euro zone inflation fell more than expected. Thursday is light on the earnings front, while the release of notes from the European Central Bank's last monetary policy meeting is expected to shine some light on the path for interest rate cuts. In Asia-Pacific, markets rebounded following a selloff in the previous session. Meanwhile, U.S. stock futures inched higher overnight as investors digested comments from U.S. Federal Reserve Chairman Jerome Powell.

Persons: Jerome Powell Organizations: Central, Rio Tinto, U.S . Federal Locations: Rio, Asia, Pacific, U.S

☆ European stocks close mixed as investors assess U.S. jobs data, ECB signals
▼ + stars: | 2024-03-08 | by ( Karen Gilchrist | ) www.cnbc.com time to read: 1 min

European markets closed mixed Friday, with investors digesting the European Central Bank's updated inflation forecast and new U.S. jobs data. The Stoxx 600 index provisionally closed 0.03% higher, with sectors and major bourses trading in mixed territory. German industrial output rose 1% in January, more than the 0.5% expected, new data showed Friday. Construction and manufacturing output also rose 2.7% and 1.1%, respectively. Revised euro zone statistics showed gross domestic product remained steady in the fourth quarter on 2024.

Persons: Europai Organizations: Royal London Group

☆ Dollar steady ahead of Powell testimony, bitcoin takes breather
▼ + stars: | 2024-03-06 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar was largely steady on Wednesday, as traders avoided making large bets ahead of congressional testimony from Federal Reserve Chair Jerome Powell, as well as the European Central Bank's, or ECB, rate decision and U.S. jobs data later this week. In cryptocurrencies, bitcoin was slightly up but stayed below a record high reached in a volatile overnight session. Powell is expected to reinforce that the Fed will wait for more data before making any rate cuts. Elsewhere, the ECB is widely expected to leave interest rates at a record 4% at its policy meeting on Thursday. Markets are also keeping a close eye on the world's largest cryptocurrency, bitcoin , after it surged to a record high overnight before retreating sharply.

Persons: Jerome Powell, bitcoin, Powell's, Powell, Carol Kong, Sterling Organizations: U.S, Federal, European Central Bank, Institute for Supply Management, Traders, Commonwealth Bank of Australia, ECB Locations: U.S

☆ There is uneven recovery across different sectors and member states of euro zone economy: economist
▼ + stars: | 2024-02-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere is uneven recovery across different sectors and member states of euro zone economy: economistChris Williamson, chief business economist at S&P Global Market Intelligence, discusses the latest euro zone flash PMI data and explains how it will impact the European Central Bank's next interest rate decision.

Persons: Chris Williamson Organizations: P Global Market Intelligence, Central Bank's

☆ Dollar poised for weekly decline; US jobs data up next
▼ + stars: | 2024-02-02 | by ( ) www.cnbc.com time to read: +4 min

The dollar index was last at 103.02 and on track for its first weekly decline for the year. The New Zealand dollar rose 0.07% to $0.6149 and was on track for a weekly rise of nearly 1%, its best performance in over a month. It was poised for a weekly gain of nearly 1.3%, its best week in over a month. That highlighted a growing view within the board that conditions were falling in place to soon pull short-term interest rates out of negative territory, which would be Japan's first interest rate hike since 2007. Data on Thursday showed euro zone inflation eased as expected last month but underlying price pressures fell less than forecast, likely boosting the European Central Bank's argument that rate cuts should not be rushed.

Persons: Jerome Powell, Ray Attrill, Raf Choudhury, BoE, Thierry Wizman Organizations: Federal Reserve, New Zealand, National Australia Bank, Friday's, Analysts, Bank of Japan's, Bank of England, Monetary, European Locations: Abrdn, U.S

☆ European markets set to open higher following ECB decision, U.S. data
▼ + stars: | 2024-01-26 | by ( Karen Gilchrist | ) www.cnbc.com time to read: 1 min

European markets are expected to open higher Friday as investors digest the European Central Bank's latest decision and fresh economic data from the U.K. and U.S. The ECB met market expectations Thursday and held interest rates steady at their current record high. U.K. consumers are their most confident since January 2022, buoyed by falling inflation, new survey data showed Friday. Stateside, U.S. stock futures were higher after economic growth for the quarter came in well above expectations. Meantime, Asia-Pacific markets mostly declined Friday as electric vehicle stocks in the region dropped for a second day, while investors also digested inflation data from Tokyo.

Organizations: Central, ECB Locations: Asia, Pacific, Tokyo

☆ IPSO: High dissatisfaction with Lagarde's leadership style
▼ + stars: | 2024-01-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIPSO: High dissatisfaction with Lagarde's leadership styleCarlos Bowles, vice-president of the European Central Bank's staff union, discusses the latest employee survey.

Persons: Carlos Bowles Organizations: European Central Bank's

☆ Gold hovers near 1-week low on firm dollar; U.S. data, ECB in focus
▼ + stars: | 2024-01-25 | by ( ) www.cnbc.com time to read: +2 min

Three 1kg gold bullion bars worth over 155,00 GBP lay on the counter in a gold dealers in Birmingham's jewelry quarter on December 13, 2023 in Birmingham, England. Gold prices have increased since the Ukraine War but have soared to record highs since the start of the Hamas-Israel war. Other factors are the weakening US dollar and expected rate cuts from the Federal Reserve. Spot gold rose 0.2% to $2,015.83 per ounce by 0424 GMT. Spot silver rose 0.4% to $22.76 per ounce, platinum climbed 0.3% $901.53, and palladium gained 0.1% to $964.07.

Persons: Kyle Rodda Organizations: Federal Reserve, Fed, European Central Bank Locations: Birmingham, England, Ukraine, Israel, U.S

☆ European markets head for higher open ahead of euro zone PMI data
▼ + stars: | 2024-01-24 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are heading for a positive open Wednesday as investors look ahead to preliminary purchasing managers' index (PMI) data from the euro zone in January. The composite services and manufacturing PMI data will give investors a gauge of business activity in the single currency area, ahead of the European Central Bank's next meeting on Thursday. Overnight in Asia-Pacific markets, Hong Kong's Hang Seng index surged almost 2%, powered by tech stocks as other regional markets mostly fell. U.S. stock futures tied to the tech-heavy Nasdaq 100 climbed Wednesday morning after Netflix reported its subscriber count reached a record in the fourth quarter.

Organizations: European Central Bank's, Netflix Locations: Asia, Pacific, U.S

☆ As others try to quash rate cut talk, European Central Bank's Centeno flags inflation progress
▼ + stars: | 2024-01-16 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Euro zone inflation is moving in the right direction, Portugal's central bank governor Mario Centeno said Tuesday, despite his peers on the European Central Bank Governing Council striking a more hawkish tone in recent days. "We target medium term inflation, we don't target February inflation, and the trajectory is very positive right now," Centeno told CNBC at the World Economic Forum in Davos, Switzerland. "I don't say that overshooting is a possibility, but we don't need to do more than is needed to bring inflation in the medium term to 2%. Since the end of 2022, all our forecasts to 2025 show a very well-anchored forecast for inflation in the medium term." Services inflation is falling faster than it went up and is on a particularly positive course, according to Centeno.

Persons: Mario Centeno, Centeno, Robert Holzmann, Holzmann, We've Organizations: European Central Bank Governing Council, CNBC, Economic, ECB Locations: Davos, Switzerland, Austrian

☆ Dollar advances as traders weigh rate cut expectations, eyes on data
▼ + stars: | 2024-01-16 | by ( ) www.cnbc.com time to read: +4 min

Traders are back projecting cuts of 160 bps this year, up from expectations of 140 bps last week. Chris Weston, head of research at Pepperstone, said the risk is that Waller could push back on market pricing for a March cut and show a lack of urgency to normalize policy. "That said, should he even remotely validate market pricing, then we should see U.S. 2-year bond yields fall further. Markets are pricing around 120 bps of rate cuts by the Bank of England in 2024, with the first one most likely in May. Elsewhere, the Australian dollar fell 0.43% to $0.6632, while the New Zealand dollar fell 0.39% to $0.6176.

Persons: Hamish Pepper, Christopher Waller, Waller, Chris Weston, Weston, Bank's Joachim Nagel Organizations: U.S, Federal, Bank of Japan, Fed, Traders, Asset Management, Treasury, Bank of England, New Zealand Locations: Tokyo, Japan, U.S

☆ ECB hawk Holzmann sees possibility of no rate cuts this year
▼ + stars: | 2024-01-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailECB hawk Holzmann sees possibility of no rate cuts this yearAustrian central bank governor, Robert Holzmann, discusses the interest rate outlook, risks to the European Central Bank's inflation forecast, and why he would "definitely bet" on no rate cut in the spring.

Persons: Robert Holzmann Organizations: ECB Locations: Austrian

☆ Euro zone inflation rebounds in December, fueling rate-cut debates
▼ + stars: | 2024-01-05 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Headline inflation in the euro zone jumped to 2.9% in December, up from 2.4% the previous month, though core inflation continued to ease, according to data released Friday by Eurostat. Core inflation — which doesn't include energy, food, alcohol and tobacco prices — cooled to 3.4% last month from 3.6% in November. An overall rise was expected due to base effects from the energy market, as price falls moderate. Energy prices were down 6.7% year on year in December, versus a 11.5% drop in November. The headline inflation rise "is essentially a technicality," Michael Field, European market strategist at Morningstar, said in a note.

Persons: Michael Field Organizations: Eurostat, Energy, European, Morningstar

☆ Dollar eases as traders weigh rate cut prospects
▼ + stars: | 2023-12-01 | by ( ) www.cnbc.com time to read: +3 min

Data on Thursday showed U.S. consumer spending rose moderately in October, while the annual increase in inflation was the smallest in more than 2-1/2 years. "It remains to be seen if getting from 3% to 2% will be easy, or if inflation will remain sticky in 2024." Federal Reserve policymakers signaled on Thursday that the U.S. central bank's interest rate hikes are likely over, but left the door open to further monetary policy tightening should progress on inflation stall. Investor focus will now move to comments from Fed Chair Jerome Powell later on Friday, with traders likely to scrutinize every word to sketch out rate outlook. The Australian dollar rose 0.20% to $0.662, while the New Zealand dollar rose 0.37% to $0.618.

Persons: Ryan Brandham, Jerome Powell, Powell, Carol Kong, Sterling, Toshiro Muto Organizations: Risk, Commonwealth Bank of Australia, Bank of Japan, New Zealand Locations: North America, U.S, Europe

☆ Euro zone inflation tumble pits ECB against markets
▼ + stars: | 2023-11-30 | by ( Balazs Koranyi | ) www.reuters.com time to read: +5 min

Inflation has dropped quickly towards the ECB's 2% target from levels above 10% just a year ago but policymakers have cautioned against excessive optimism. The rapid inflation slowdown puts the euro zone central bank and investors on a collision course as the two appear to see greatly different paths ahead, both for consumer prices and ECB interest rates. "And if the recent trends in inflation and growth continue then 2024 will be the year when the ECB implements a pirouette in monetary policy." "The market is therefore right to start looking at rate cuts for 2024. Some economists argue that modelling current inflation is exceptionally difficult because corporate profits are the main driver, not wages as in normal bouts of rapid inflation.

Persons: Sarah Meyssonnier, Kamil Kovar, Yannis Stournaras, Fabio Panetta, Panetta, Christine Lagarde's, Bert Colijn, Balazs Koranyi, Catherine Evans Organizations: REUTERS, ECB, Moody's, Bank of Italy, ING, Thomson Locations: Paris, France, FRANKFURT

It's a far cry from the peak of 10.6% in October 2022 as an energy crisis left Europe's households and businesses struggling to make ends meet. The new figure is close to the European Central Bank's inflation target of 2% following a rapid series of interest rate hikes dating to summer 2022. Energy prices plunged 11.5% from November 2022. Meanwhile, the larger eurozone economy has stalled this year, even shrinking 0.1% in the July-to-September quarter, according to Eurostat. ___This story has been corrected to show that the eurozone economy shrank 0.1% in the third quarter, not grew by that amount.

Persons: ”, Andrew Kenningham, Christine Lagarde, ” Lagarde, That's, upended, ” Carsten Brzeski Organizations: Eurostat, ECB, Capital Economics, Energy, OECD, ING Locations: Europe, Germany, Europe's, Russia, Moscow, Ukraine

[1/4] A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. In precious metals, gold hit a six-month high with a boost from the softer dollar and expectations for a pause in Fed tightening. There's a growing sense the economy is slowing, that price growth will likely continue to fall, that profit growth will likely fall," said Jack Ablin, chief investment officer at Cresset Capital, in Chicago. The U.S. dollar index slid against most major currencies on Monday and was on track for a monthly decline of more than 3%, which would be its biggest monthly drop in a year. The dollar index was down 0.203%, with the euro up 0.11% to $1.0951.

Persons: Brendan McDermid, Brent, Jack Ablin, Ablin, Christine Lagarde, Jim Barnes, Sterling, Sinéad Carew, Chuck Mikolazczak, Harry Robertson, Wayne Cole, Stephen Coates, Ed Osmond, Chizu Nomiyama, Christina Fincher Organizations: New York Stock Exchange, REUTERS, Treasury, U.S, Federal Reserve, Cresset, Dow Jones, Nasdaq, European Central Bank, Central, Reuters Graphics Oil, Thomson Locations: New York City, U.S, Europe, OPEC, Chicago, Bryn Mawr, Berwyn , Pennsylvania, Israel, New York, London, Sydney

☆ Stocks maintain November reign, oil hit by OPEC doubts
▼ + stars: | 2023-11-23 | by ( Marc Jones | ) www.reuters.com time to read: +5 min

Bull statues are placed in font of screens showing the Hang Seng stock index and stock prices outside Exchange Square, in Hong Kong, China, August 18, 2023. Wall Street's benchmark S&P 500 (.SPX) is nearing a fresh high for 2023, with the S&P 500 and MSCI's all-country world index (.MIWD00000PUS) both up more than 8% this month alone. For MSCI world that is the best showing since November 2020 when markets got a major shot in the arm from COVID vaccine hopes. Germany's 10-year bund , the benchmark for the Europe, was fractionally higher on the day at 2.57% having touched 3% last month. Bitcoin fell by 0.77% on Thursday to $37,337 after it rose nearly 5% on Wednesday.

Persons: Tyrone Siu, Geert Wilders, Robert Alster, Viktor Orban, Wilders, Mark Rutte, Sterling, Jeremy Hunt, Changpeng Zhao, Marc Jones, Christina Fincher Organizations: REUTERS, PMI, ECB, Oil, Traders, Asset Management, European Union, Freedom Party, Labour, Green, People's Party for Freedom and Democracy, European, HK, Reuters, Treasury, UK Finance, OPEC, Thomson Locations: Exchange, Hong Kong, China, Europe, U.S, EU, Germany, Holland, Ukraine, Turkey, Asia, Pacific, Japan, Brent, Bitcoin

☆ Asia stocks hold gains as confidence grows on rate outlook
▼ + stars: | 2023-11-23 | by ( Selena Li | ) www.reuters.com time to read: +4 min

China's benchmark share index (.CSI300) fell 0.16% on Thursday, with the real estate sub-index (.CSI931775) retrieved earlier losses to gain 2.11%. Chinese government advisers will recommend to an annual policymakers' meeting that economic growth targets for next year be set at 4.5% to 5.5%, Reuters reported on Wednesday. Markets have generally been buoyant this month, with stocks rallying on expectations of a more benign interest rate backdrop. The next set of forward-looking flash November PMIs will help investors to assess recession risks and how quickly rate cuts might begin. The minutes of the European Central Bank's October meeting and flash PMIs for a host of European countries are Thursday's highlights.

Persons: Tyrone Siu, shrugged, Redmond Wong, Brent, Sterling, Jeremy Hunt, Changpeng Zhao, Bitcoin, Selena Li, Edmund Klamann, Stephen Coates Organizations: REUTERS, Bloomberg, Garden Holdings, HK, Reuters, U.S, The, Federal Reserve, Saxo Markets, Nikkei, Nasdaq, European Central, PMI, OPEC, FTSE, UK Finance, Thomson Locations: Exchange, Hong Kong, China, HONG KONG, Asia, Pacific, Japan, United States, The U.S, Greater China, Australia, Britain, U.S

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