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☆ Dollar rises on safe haven bids; yen regains footing
▼ + stars: | 2023-01-19 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

FILE PHOTO: A U.S. hundred dollar bill and Japanese 10,000 yen notes are seen in this photo illustration in Tokyo, February 28, 2013. The fresh wave of risk aversion - compounded by news of job cuts by tech giants Microsoft and Amazon - also kept the dollar in bid. The euro was last 0.39% lower at 138.58 yen, while sterling fell 0.23% to 158.27 yen, as markets continued to test the resolve of the BOJ’s ultra-dovish stance. “While there’s still high expectations for a policy shift ... I think that will keep the yen pretty elevated in the near term.”Elsewhere, the kiwi fell 0.31% to $0.6425.

☆ Davos: No recession after all? Business leaders more hopeful as China reopens
▼ + stars: | 2023-01-17 | by ( Julia Horowitz | ) edition.cnn.com time to read: +4 min

Davos, Switzerland CNN —Bullishness about the global economy has been in short supply among business leaders in recent months, with fears of recession clouding the outlook and restraining investment. That’s thanks in large part to China, whose sudden removal of strict coronavirus restrictions late last year is expected to unleash a wave of spending that may offset economic weakness in the United States and Europe. Near term, China is in the grip of its worst coronavirus outbreak, keeping many people indoors and emptying shops and restaurants in recent weeks. “I’m expecting a solid growth number for China in 2023,” said Kevin Rudd, president of the Asia Society and a former prime minister of Australia. “Maybe we will be surprised also in the first half of the year.”Averting a global recession is not a done deal, however.

☆ Just how bad was the war in Ukraine for Europe’s biggest economy last year?
▼ + stars: | 2023-01-13 | by ( Anna Cooban | ) edition.cnn.com time to read: +7 min

London CNN —Germany’s economy grew slightly last year despite battling an energy crisis sparked by Russia’s war in Ukraine. The bank predicts the German economy will stagnate this year, rather than decline, as it had previously forecast. Tobias Schwarz/AFP/Getty ImagesEither way, it’s welcome news for Europe’s biggest economy. “The German economy has been more resilient than initially feared,” Jan-Christopher Scherer, a research associate at DIW Berlin, told CNN. About 40% of German companies expect business to decline in 2023, and another 35% think it will stagnate, according to a November survey of 2,500 firms conducted by the German Economic Institute.

☆ Interest-Rate Paths for U.S., Europe Set to Diverge
▼ + stars: | 2022-12-11 | by ( Tom Fairless | ) www.wsj.com time to read: 1 min

The European Central Bank is expected to unveil plans to start reducing its multitrillion-dollar bondholdings in the coming months. FRANKFURT—The Federal Reserve’s aggressive campaign against high inflation dominated global financial markets this year. Starting this week, the action shifts to Europe, where inflation could prove stickier and harder to tame. That shift is likely to reverse some of the key market dynamics of 2022, most significantly a superstrong dollar. At monetary-policy meetings this week, the Federal Reserve’s key rate is expected to rise by 0.5 percentage point, the European Central Bank’s by 0.5 to 0.75 point, and the Bank of England’s by 0.5 point.

☆ Europe’s diverging prices complicate ECB’s task
▼ + stars: | 2022-11-01 | by ( Pierre Briancon | ) www.reuters.com time to read: +4 min

LONDON, Nov 1 (Reuters Breakingviews) - The euro zone monetary policy debate may soon become more tense. The region’s inflation rate, at 10.7% in October, masks wide disparities among member states. The recent dispersion in euro zone inflation rates began with the recession triggered by Covid-19. Retail energy prices in the euro area increased by 40% between August 2021 and August 2022. Monetary policy may become less predictable.

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