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☆ ECB should cut by 50 basis points — but they won't, UniCredit's Nielsen says
▼ + stars: | 2024-11-22 | 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 EmailECB should cut by 50 basis points — but they won't, UniCredit's Nielsen saysErik Nielsen, group chief economics advisor at UniCredit, discusses the ECB's December meeting, and the need for a Capital Markets Union in Europe.

Persons: UniCredit's Nielsen, Erik Nielsen Organizations: Capital Markets Union Locations: Europe

☆ European Central Banks warns of trade tension risks to euro zone financial stability
▼ + stars: | 2024-11-20 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Rising global trade tensions present a risk to the euro area economy, the bloc's central bank found in its biannual Financial Stability Review out on Wednesday. The European Central Bank also said weak growth was now a bigger threat than high inflation in the 20-nation euro zone. The latest figures recorded euro zone economic growth at a two-year high of 0.4% in the third quarter, while headline inflation hit 2% in October. "Rising global trade tensions and a possible further strengthening of protectionist tendencies across the world raise concerns about the potential adverse impact on global growth, inflation and asset prices," the Financial Stability Review said. Economists say the knock-on impact of implementing these measures could drag on the euro, if a slowdown in exports spurs the ECB to cut interest rates further and faster.

Persons: Donald Trump's Organizations: European Central Bank, ECB, U.S Locations: U.S, China

☆ Euro-dollar parity is back in focus as Trump win sparks trade jitters
▼ + stars: | 2024-11-20 | by ( Jenni Reid | ) www.cnbc.com time to read: +4 min

The euro has declined rapidly, meanwhile, briefly dipping below $1.05 on Nov. 14 for the first time since October 2023. Modeling by Barclays' economists shows the euro hitting dollar parity with a 10% tariff on European products and subsequent retaliation. The bank said the prospect of Trump tariffs and fiscal reforms had caused it to revise its view that the dollar would gradually decline through the year, instead seeing the U.S. currency "stronger for longer." Since hitting a low in September 2022, the euro has been comfortably back above parity even if below its long-range average. One of those 2022 factors roared back into focus this week, weighing broadly on European assets: the threat of escalating tensions with Russia.

Persons: Donald Trump, James Reilly, Reilly, George Saravelos, Trump, Saravelos, Goldman Sachs, Goldman Organizations: U.S, Republican, China —, Federal Reserve, Capital Economics, Federal, European Central Bank, FX Research, Deutsche Bank, Trump, Barclays, ECB, Fed Locations: Congress, China, U.S, Europe, Russia, Ukraine

☆ Trump presidency adds to uncertainty for euro zone economy, European Central Bank's De Guindos says
▼ + stars: | 2024-11-20 | 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 EmailTrump presidency adds to uncertainty for euro zone economy, European Central Bank's De Guindos saysLuis de Guindos, vice-president of the European Central Bank, discusses inflation and growth in the euro area, the upcoming presidency of Donald Trump in the U.S. and the ECB's latest Financial Stability Review.

Persons: De Guindos, Luis de Guindos, Donald Trump Organizations: Email Trump, European Central Bank Locations: U.S

☆ European markets set for higher open as investors look to shake off negative sentiment
▼ + stars: | 2024-11-18 | by ( Sophie Kiderlin | ) www.cnbc.com time to read: +1 min

City of London skyline view looking over the River Thames and Waterloo Bridge at sunset on 10th February 2024 in London, United Kingdom. European markets were on track to rise as a new trading week kicks off Monday, with investors looking to shake off last week's negative sentiment and attention turning to regional inflation data. Italy's FTSE MIB was also on track to open higher, adding 158 points to 34,060. Investors this week will be looking to several key regional data points, including the latest inflation data out of the U.K. on Wednesday. The figures come after Friday's U.K. gross domestic product reading, which came in at 0.1% in the third quarter, falling short of expectations.

Persons: Germany's DAX, Christine Lagarde Organizations: CAC, Markets, European Central Bank, ECB Locations: London, United Kingdom

☆ CBDC comes about when consumers move from cash to digital payment: ECB's Ulrich Bindseil
▼ + stars: | 2024-11-07 | 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 EmailCBDC comes about when consumers move from cash to digital payment: ECB's Ulrich BindseilUlrich Bindseil from European Central Bank talks about the future prospects of digital Euro.

Persons: ECB's Ulrich Bindseil Ulrich Bindseil Organizations: European Central Bank

☆ Trump's presidency will hurt Europe's economic growth amid renewed trade tensions, Goldman Sachs says
▼ + stars: | 2024-11-06 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

Europe could take a hit to GDP in a second Trump presidency, Goldman Sachs analysts say. Europe could face a big hit to economic growth as trade tensions increase, Goldman Sachs analysts said. The analysts downgraded their growth forecasts across the region, down to 0.8% from their previous forecast of 1.1% for 2025. AdvertisementThe analysts point to renewed trade tensions fueled by Trump's proposal for sweeping tariffs on all US imports. More significant than the actual tariff increases, though, will be the trade policy uncertainty that comes with them, the analysts say.

Persons: Goldman Sachs, —, Trump, Joachim Nagel, Christine Lagarde Organizations: Trump, Service, EU, NATO Locations: Europe, TPU, Germany, Sweden, Switzerland, China, Ukraine

☆ Euro zone inflation rises to higher-than-expected 2% in October
▼ + stars: | 2024-10-31 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Inflation in the 20-nation euro zone rose to 2% in October, preliminary figures released by statistics agency Eurostat showed Thursday. The fresh Thursday inflation print is seen as crucial in judging whether the European Central Bank could consider implementing a jumbo half-percentage-point cut in interest rates at its next meeting in December. The central bank has so far trimmed rates three times this year, making quarter-point increments that altogether took the central bank's key rate from 4% to 3.25%. Traders are also considering the latest growth figures for the euro area, which showed better-than-expected 0.4% expansion in the third quarter, even as analysts predicted further weakness ahead. The ECB said during its October meeting that sluggishness in the euro zone's economic activity had added to its confidence that inflation will not resurge dramatically.

Organizations: Reuters, European Central Bank, Traders, ECB Locations: Bonn, Germany

☆ Euro zone economy grows 0.4% in third quarter, above expectations
▼ + stars: | 2024-10-30 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The euro zone economy grew 0.4% in the third quarter, flash figures published by the European Union's statistics agency showed Wednesday. Analysts say euro zone growth should cautiously pick up in the coming months, amid lower interest rates and cooling inflation. The ECB cited persistent signs of weak activity in the euro area as a key factor in the central bank's decision to enact an October cut. Markets have fully priced another 25-basis-point cut from the ECB in its last meeting of the year in December. The euro zone's biggest economy, Germany, recorded surprise growth of 0.2% in the third quarter, according to figures published on Wednesday.

Organizations: Reuters, European Central Bank, ECB Locations: Madrid, Spain, Germany

☆ Let's wait for more inflation readings to see 'what's really going on': ECB's Vujčić
▼ + stars: | 2024-10-24 | 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 EmailLet's wait for more inflation readings to see 'what's really going on': ECB's VujčićBoris Vujčić, governor of the Croatian National Bank and ECB Governing Council member, discusses the eurozone economy at the IMF meetings in Washington with CNBC.

Persons: ECB's, Boris Vujčić Organizations: Croatian National Bank, ECB, CNBC Locations: Washington

☆ Rate cuts isn't really a situation where ECB needs to rush, strategist says
▼ + stars: | 2024-10-24 | 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 EmailRate cuts isn't really a situation where ECB needs to rush, strategist saysGuillaume Menuet, EMEA head of investment strategy and economics at Citi Wealth, weighs in on the European Central Bank's future path for interest rates.

Persons: Guillaume Menuet Organizations: Citi Wealth, Central

☆ 'I'm not excluding anything' — but it's better to be gradual, says ECB's Wunsch on rate cuts
▼ + stars: | 2024-10-24 | 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 Email'I'm not excluding anything' — but it's better to be gradual, says ECB's Wunsch on rate cutsSpeaking to CNBC's Karen Tso at the IMF annual meetings, Pierre Wunsch, head of the National Bank of Belgium and ECB Governing Council member, discussed the euro zone's monetary policy. He stressed that the central bank is data dependent and said he doesn't currently see the "need for a 50-basis point cut, but let's look at the data."

Persons: ECB's, Karen Tso, Pierre Wunsch, doesn't Organizations: National Bank of Belgium

☆ Dollar stands tall on bets for slower Fed cuts, potential Trump win
▼ + stars: | 2024-10-24 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar traded close to a three-month high against major peers on Thursday, underpinned by expectations for a slower pace interest rate cuts by the Federal Reserve and growing bets of a possible second Donald Trump presidency. The U.S. dollar traded close to a three-month high against major peers on Thursday, underpinned by expectations for a slower pace interest rate cuts by the Federal Reserve and growing bets of a possible second Donald Trump presidency. This week, Kansas City Fed President Jeffrey Schmid said he would prefer to "avoid outsized moves", and Philadelphia Fed President Patrick Harker backed "a slow, methodical approach" to further easing. The dollar has now "punched through key technical resistance levels" against the yen, "opening the door for higher levels", Catril said. Although opinion polls indicate a neck-and-neck race with Democratic rival, Vice President Kamala Harris, cryptocurrency-prediction exchange Polymarket has seen a sharp rise in bets for a Trump win.

Persons: Donald Trump, Jeffrey Schmid, Patrick Harker, Rodrigo Catril, Catril, Trump, Kamala Harris, Christine Lagarde, Mario Centeno Organizations: U.S ., Federal Reserve, Kansas, Philadelphia Fed, Treasury, National Australia Bank, UST, Republican, Democratic, Trump, of, Traders, European Central Bank, Wednesday Locations: Japan, Sunday's

Mārtiņš Kazāks, governor of the Bank of Latvia and a member of the European Central Bank's Governing Council, on Thursday weighed in on the possibility of a jumbo half-point interest rate cut for December. When asked for his views on a 50-basis rate cut by the ECB at its next meeting, he said that "everything should be on the table." "But we will have that discussion in December," he told CNBC's Karen Tso at the IMF's annual meetings in Washington, D.C. Thursday. His comments come after the ECB delivered a back-to-back interest rate cut for the first time in 13 years at its October meeting. It also comes a day after Portuguese central bank chief Mario Centeno made similar comments.

Persons: Mārtiņš Kazāks, CNBC's Karen Tso, —, Mario Centeno, Centeno Organizations: Bank of, European Central Bank's Governing, ECB, CNBC Locations: Bank of Latvia, Washington ,, Portuguese

☆ 'Everything should be on the table,' says ECB's Kazāks on possibility of a jumbo rate cut
▼ + stars: | 2024-10-24 | 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 Email'Everything should be on the table,' says ECB's Kazāks on possibility of a jumbo rate cutMārtiņš Kazāks, the governor of the Bank of Latvia and European Central Bank Governing Council member, discusses monetary policy with CNBC's Karen Tso at the IMF meetings in DC.

Persons: ECB's, Karen Tso Organizations: Bank of, European Central Bank Governing Locations: Bank of Latvia

☆ Why is the Japanese yen hovering near three-month lows against the dollar
▼ + stars: | 2024-10-24 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +3 min

A queue of people forms outside a money changer (L) as people wait to buy and sell the Japanese yen against foreign currency, along a street in central Tokyo on April 29, 2024. In the past, weakness in the Japanese currency has been attributed to the difference between the U.S. and Japanese interest rates as lower rates tend to pressure currencies, while higher rates lift them up. Japan had negative rates for about eight years, keeping it's currency weak compared to the dollar. The Japanese yen is hovering near three-month lows against the U.S. dollar, after hitting 153.18 late Wednesday. "The annualised 1-month deposit rate for yen is +0.03%, while it is 4.76% for the U.S. dollar.

Persons: Alvin Tan, Homin Lee, Lombard Odier, Donald Trump, Lee, RBC's Tan, Hugh Chung Organizations: Federal, Bank of Japan, U.S, U.S ., Asia FX, RBC Capital Markets, CNBC Locations: Tokyo, Japan, Asia, Swiss, U.S

☆ Insana: The market is on a hot streak, and these factors – not the election – are driving it
▼ + stars: | 2024-10-22 | by ( Ron Insana | ) www.cnbc.com time to read: +4 min

Both have opined that the rally on Wall Street underscores a growing belief that former President Donald Trump will win on Nov. 5. However, I don't yet believe that Wall Street and Pennsylvania Avenue have intersected just yet. Indeed, if the stock market is anticipating a Trump victory, what might the bond market and gold market be telling us, assuming they expect the same outcome? Are those markets telling us a Trump victory would lead to higher inflation and bigger fiscal deficits? Those betting on a Trump win would be loath to say so if they follow the messages of multiple markets.

Persons: Stanley Druckenmiller, Dan Loeb, Donald Trump, Loeb, it's, Dow Jones, Kamala Harris, Trump, Ron Insana Organizations: Senate, Dow Jones, Nasdaq, Federal Reserve, Atlanta, Dow, Taiwan Semiconductor Manufacturing, Nvidia, European Central Bank, Trump, stoke, Democratic, Pennsylvania, CNBC Locations: U.S

☆ ECB and Fed will be 'fairly synchronized' when it comes to pace of rate cuts, portfolio manager says
▼ + stars: | 2024-10-18 | 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 and Fed will be 'fairly synchronized' when it comes to pace of rate cuts, portfolio manager saysKonstantin Veit, portfolio manager at Pimco, discusses the outlook for interest rates in Europe and the U.S.

Persons: Konstantin Veit Organizations: ECB, Fed Locations: Europe, U.S

☆ ECB'S 25-basis-point rate cut was 'quite OK,' economist says
▼ + stars: | 2024-10-18 | 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 25-basis-point rate cut was 'quite OK,' economist saysCyrus De La Rubia, chief economist at Hamburg Commercial Bank, says European Central Bank President Christine Lagarde "sounded rather dovish."

Persons: Cyrus De La Rubia, Christine Lagarde Organizations: Hamburg Commercial Bank, Central Bank Locations: Hamburg

☆ Dollar rides 'Trump trade' toward third weekly rise, markets brush off China GDP
▼ + stars: | 2024-10-18 | by ( ) www.cnbc.com time to read: +5 min

The onshore yuan ticked 0.06% higher to 7.1199 per dollar, while its offshore counterpart rose 0.12% to 7.1282. Data on Thursday showed U.S. retail sales growth was higher than expected and the ECB cut interest rates by 25 basis points. "All of that has played in to a stronger dollar," said Jason Wong, senior strategist at BNZ in Wellington. The New Zealand dollar was similarly eyeing a 0.75% fall for the week and was little changed at $0.6063 in the Asia session. The U.S. dollar index hit a 2-1/2 month high of 103.87 on Thursday and is up nearly 0.8% forthe week thus far.

Persons: Donald Trump, Ho Woei Chen, Jason Wong, There's, Yahya Sinwar, Israel's, Benjamin Netanyahu, Sterling Organizations: European Central Bank, People's Bank of China, Securities, Fund, Insurance, ECB, Reuters, Trump, New Zealand, Bank of England, U.S Locations: Asia, China, Wellington, U.S, Israel, Gaza

☆ CNBC Daily Open: The Dow hits another high amid a mostly flat market
▼ + stars: | 2024-10-18 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

NEW YORK, NEW YORK - OCTOBER 16: Traders and others work on the New York Stock Exchange (NYSE) floor in New York City. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. That's higher than both the 0.1% gain in August and the 0.3% Dow Jones forecast, according to the advance report. Meanwhile, Taiwan Semiconductor Manufacturing Co's reported its third-quarter net revenue jumped 36% year on year, and revised its fourth-quarter revenue upward.

Persons: it's, Dow, Christine Lagarde's, Dow Jones Organizations: NEW, Traders, New York Stock Exchange, CNBC, European Central Bank, Dow Jones, Nasdaq, Dow, Taiwan Semiconductor Manufacturing, U.S . Federal Reserve Locations: New York City, U.S

☆ European markets set for mixed open as investors digest third ECB rate cut of the year
▼ + stars: | 2024-10-18 | by ( Sophie Kiderlin | ) www.cnbc.com time to read: +1 min

European markets were headed for a mixed open on Friday as investors digested the European Central Bank's decision to cut interest rates yet again and awaited fresh economic data and earnings. Germany's DAX , the U.K.'s FTSE 100 and France's CAC 40 are all expected to slip when markets open, according to IG data, while Italy's FTSE MIB is on track to rise. The pan-European Stoxx 600 ended Thursday in the green, with almost all sectors and regional bourses trading in positive territory. It came as the ECB announced its third interest rate cut of the year, lowering the deposit rate by another 25 basis points, as inflation risks in the European Union ease faster than anticipated. On Friday, investors will be watching the latest U.K. retail sales data and quarterly earnings from Volvo Group.

Persons: Germany's DAX Organizations: Central, CAC, ECB, Volvo Group, Dow Jones Locations: European Union, Asia, Pacific, China, Hong Kong

☆ ECB will cut rates in October but not to commit to a forward path: economist
▼ + stars: | 2024-10-17 | 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 will cut rates in October but not commit to a forward path, Goldman economist saysJari Stehn, chief Europe economist at Goldman Sachs, discusses the European Central Bank's October meeting and the growth outlook for the euro area.

Persons: Goldman, Jari Stehn, Goldman Sachs Organizations: Central Locations: Europe

☆ Weaker euro zone growth outlook has led ECB to October rate cut, CIO says
▼ + stars: | 2024-10-17 | 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 EmailWeaker euro zone growth outlook has led ECB to October rate cut, CIO saysIain Stealey, international chief investment officer of global fixed income currency and commodities at J.P. Morgan Asset Management, comments on what to watch for in the European Central Bank's October communications.

Persons: Iain Stealey Organizations: ECB, Morgan Asset Management, Central

☆ European Central Bank meets with third rate cut of the year expected
▼ + stars: | 2024-10-17 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Christine Lagarde, president of the European Central Bank (ECB), left, and Wolfgang Proissl, director of general communications at the European Central Bank (ECB), at a rates decision news conference in Frankfurt, Germany, on Thursday, Sept. 12, 2024. The European Central Bank is widely expected to announce its third interest rate cut of the year at its Thursday meeting, after policymakers flagged reduced inflation risks and a weakening growth outlook. Headline price rises in the euro area eased to 1.8% in September, coming in below the central bank's 2% target for the first time in three years. A cut on Thursday would see the ECB reducing rates at consecutive meetings for the first time in 13 years. Expectations for a faster pace of monetary easing have built since the ECB's Sept. 12 meeting, when market pricing suggested just one more rate cut this year, rather than the two priced in as of Thursday morning.

Persons: Christine Lagarde, Wolfgang Proissl Organizations: European Central Bank, ECB Locations: Frankfurt, Germany

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