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☆ Dollar hits one-month peak to yen as Fed seen taking time with rate cuts
▼ + stars: | 2024-10-03 | by ( ) www.cnbc.com time to read: +3 min

The euro languished not far from a three-week trough reached in the previous session, after normally hawkish European Central Bank policymaker Isabel Schnabel took a dovish tone on inflation, cementing bets for a rate cut this month. Currently, traders lay 34.6% odds of another 50 basis-point U.S. rate cut on Nov. 7, after the Fed kicked off its easing cycle with a super-sized reduction last month. "I do think that if the payrolls report overall is not too shabby tomorrow night, then we will see that pricing (for a 50 basis-point cut) coming in quite significantly." The dollar added 0.09% to 146.575 yen after earlier reaching 146.885 for the first time since Sept. 3. The euro was little changed at $1.10455, sitting not far from Wednesday's low of $1.10325, a level last seen on Sept. 12.

Persons: European Central Bank policymaker Isabel Schnabel, Ray Attrill, Attrill, Asahi Noguchi, Sterling Organizations: Federal Reserve, European Central Bank, Private U.S, ADP, Fed, National Australia Bank, Dovish Bank of Japan Locations: U.S, Iran, Israel

☆ Euro falls as ECB hike bets take hit on inflation, policymaker comments
▼ + stars: | 2023-08-31 | by ( Samuel Indyk | ) www.reuters.com time to read: +4 min

U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. But, while euro area-wide inflation unexpectedly held at 5.3% this month, underlying price growth fell, complicating matters for the ECB, who now appear more likely to keep interest rates unchanged next month than raise them. ECB rate-setter Schnabel - considered one of the most hawkish members on the ECB - said euro zone growth was weaker than predicted but that does not necessarily void the need for more rate hikes. "I think the fact she is flagging downside risks to growth is putting some downside pressure on the euro." Both sterling and the euro are set for monthly drops of over 1% against the dollar in August.

Persons: Dado Ruvic, policymaker Isabel Schnabel, Schnabel, We've, Michael Brown, Chris Turner, Samuel Indyk, Tom Westbrook, Shri Navaratnam, Kim Coghill, Chizu Organizations: REUTERS, European Central Bank, ECB, Trader, Traders, Federal, Commerce Department, UK, CEE, New Zealand, Aussie, Thomson Locations: Tokyo

☆ Euro slips as ECB policymaker takes cautious tone
▼ + stars: | 2023-08-31 | by ( ) www.cnbc.com time to read: +3 min

The lettering Euro can be seen on a 1 euro coin, taken on 10 August 2023, in Baden-Württemberg, Rottweil. The euro edged back on Thursday after comments from German policymaker Isabel Schnabel failed to give firm clues on whether the European Central Bank will raise rates in September. ECB rate-setter Schnabel said that euro zone growth was weaker than predicted but that does not necessarily void the need for more rate hikes. "We've heard the most influential hawk on the Governing Council take on a much more cautious tone," said Michael Brown, analyst at Trader X. "I think the fact she is flagging downside risks to growth is putting some downside pressure on the euro this morning."

Persons: policymaker Isabel Schnabel, Schnabel, We've, Michael Brown, Chris Turner Organizations: European Central Bank, ECB, Trader, Traders, Federal, Commerce Department, UK, CEE Locations: Baden, Tokyo

With liquidity lower due to holidays, the dollar index was down around 0.3% on the day at 103.720 . "But for the near-term outlook we’re looking for some more performance in the euro versus the dollar." The euro was up 0.2% on the day at $1.0681 , on track for a 6.2% annual loss versus the dollar, compared to last year's 7% drop. The British pound was down 0.1%, set for a 11% annual drop . Still, it was set for an 8.6% annual drop, hurt by dollar strength and a domestic economic slowdown.

Summary U.S. dollar up 8.6% so far in 2022Euro set for 6.2% annual lossLONDON/SINGAPORE, Dec 30 (Reuters) - The dollar was on track for its biggest annual gain since 2015 on Friday, in the last trading day of a year dominated by Federal Reserve rate hikes and fears of a sharp slowdown in global growth. In thin trading, the dollar index was down around 0.1% on the day at 103.900 . The euro was flat on the day at $1.066 , on track for a 6.2% annual loss versus the dollar, compared to last year's 7% drop. The Bank of Japan's ultra-dovish stance has seen the dollar gain 14.5% versus the yen so far this year, in the yen's worst performance since 2013. The onshore yuan was set for its worst annual performance in 28 years, hurt by dollar strength and a domestic economic slowdown.

☆ Gold ticks up in light trade after holiday weekend
▼ + stars: | 2022-12-27 | by ( ) www.cnbc.com time to read: +1 min

Gold prices edged up in early Asian hours on Tuesday, helped by a softer dollar, although trading was thin after the long Christmas weekend. U.S. gold futures rose 0.3% to $1,810.00. Data on Friday showed U.S. consumer spending rose 0.1% in November after climbing 0.4% in October, while inflation cooled further. The European Central Bank must be prepared to take the heat and raise interest rates further, ECB policymaker Isabel Schnabel said in an interview published on Saturday. SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings fell 0.1% to 913.01 tons on Friday.

☆ ECB must be ready to take the heat and raise rates more, Schnabel says
▼ + stars: | 2022-12-24 | by ( ) www.reuters.com time to read: +1 min

FRANKFURT, Dec 24 (Reuters) - The European Central Bank must be prepared to take the heat and raise interest rates further, including by more than the market expects, if that is needed to bring down inflation, ECB policymaker Isabel Schnabel said in an interview published on Saturday. The ECB raised rates for a fourth straight time last week and hinted at further hikes - jolting euro zone bond markets and triggering a backlash from the Italian government. "Whether we will still need to go higher than that will depend on the future inflation outlook," she told German newspaper Frankfurter Allgemeine Zeitung. She added that the ECB will focus on medium-term inflation expectations, rather than current readings, and saw little risk of raising borrowing costs too far at present given that real interest rates are still very low. Schnabel said the ECB should weather the pressure.

☆ ECB's Schnabel sees little risk of overreacting to inflation
▼ + stars: | 2022-12-24 | by ( ) www.reuters.com time to read: 1 min

FRANKFURT, Dec 24 (Reuters) - European Central Bank policymaker Isabel Schnabel sees little risk of raising borrowing costs too far at present given that interest rates are still very low after they are adjusted for inflation, she said in an interview published on Saturday. "The danger of overreacting continues to be limited, as real interest rates are still very low," Schnabel told German newspaper Frankfurter Allgemeine Zeitung. Reporting By Francesco Canepa; editing by Philippa FletcherOur Standards: The Thomson Reuters Trust Principles.

☆ Inflation is falling. But the days when prices rose just 2% may never return
▼ + stars: | 2022-12-13 | by ( Julia Horowitz | ) edition.cnn.com time to read: +9 min

Energy prices are pulling back because of fears of a global recession, and the price to ship a container across the ocean has plummeted. In the United States, consumer prices rose at an annual rate of 7.1% in November, the smallest increase since December 2021. Prices rose by 10.7% in the United Kingdom last month, down from 11.1% in October, according to data published Wednesday. But even if this bout of inflation has peaked, economists are warning the world may not return to simpler days when prices barely rose at all. At least for now, supply of critical minerals can’t keep up, which could force prices higher at times.

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