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☆ Dollar firm, yen under watch ahead of key US CPI release
▼ + stars: | 2024-04-10 | by ( ) www.cnbc.com time to read: +3 min

The Japanese yen and U.S. dollar on display in Yichang, Hubei province, Nov 13, 2023. The inflation data follows a strong jobs report last Friday that blew past forecasts, raising questions on how soon and how much the central bank will cut rates this year. On the yen, Wednesday's CPI data will be "a big test for Japanese authorities," Kong added. The U.S. dollar index , which measures the greenback against six rivals, held firm at 104.12. The kiwi climbed as high as $0.6077 versus the U.S. dollar, its strongest since March 21, before flattening at $0.60595.

Persons: Carol Kong, Kong, Kazuo Ueda, Sterling, bitcoin Organizations: U.S, Reserve Bank of New, Commonwealth Bank of Australia, Bank of Japan, Reserve Bank of New Zealand, U.S ., Treasury, Traders, European Central Bank, ECB Locations: Yichang, Hubei province, Reserve Bank of New Zealand, U.S, China

☆ Banks say they’re meeting climate pledges. A new report says they’re ineffective
▼ + stars: | 2024-04-10 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Why gold prices are at record highsFrom central banks to Costco customers, it seems everyone is buying gold these days, reports CNN’s John Towfighi. Central banks see gold as a long-term store of value and a safe haven during times of economic and international turmoil. When interest rates fall, gold prices tend to rise, as bullion becomes more appealing than income-paying assets like bonds. The People’s Bank of China bought gold for the 17th straight month in March, adding 160,000 ounces to bring reserves to 72.74 million troy ounces of gold, according to Reuters. The Honest Company posted a strong fourth quarter in March.

Persons: –, ” Mark Carney, ”, GFANZ, Jamie Dimon, ” Dimon, JPMorgan, CNN’s John Towfighi, China —, Read, Jessica Alba, Ramishah Maruf, Alba’s, Chuck Organizations: CNN Business, Bell, New York CNN, European Central Bank, Glasgow Financial Alliance, UN, Bank of England, ECB, MIT, Columbia Business School, Zero Banking Alliance, United Nations, decarbonization, CNN, JPMorgan Chase, State, JPMorgan, Investors, Federal Reserve, China, People’s Bank of China, Reuters, UBS, The Honest, The Honest Company, Honest, Nasdaq Locations: New York, Glasgow, China, India, Turkey

☆ Goldman Sachs chief economist: Strong case for consecutive ECB rate cuts from June
▼ + stars: | 2024-04-05 | 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 EmailGoldman Sachs chief economist: Strong case for consecutive ECB rate cuts from JuneJan Hatzius, chief economist at Goldman Sachs, discusses the outlook for European Central Bank interest rate cuts.

Persons: Goldman Sachs, Jan Hatzius Organizations: European Central Bank

☆ Euro zone inflation unexpectedly slows to 2.4% in March, with core print also below forecast
▼ + stars: | 2024-04-03 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Inflation in the 20-nation euro zone eased to 2.4% in March, according to flash figures published on Wednesday, boosting expectations for interest rate cuts to begin in the summer. Economists polled by Reuters had forecast the rate would hold steady against the previous month at 2.6%. The core rate of inflation, excluding energy, food, alcohol and tobacco, cooled from 3.1% to 2.9%, also coming in below expectations. Markets expect the euro zone's central bank will begin lowering borrowing costs in June — a position reflected in the recent messaging of ECB decision-makers. "Inflation has declined despite a jump in energy inflation, and a boost from an early Easter.

Persons: European Central Bank —, Price, Robert Holzmann, Carsten Brzeski, Kamil Kovar, Kovar Organizations: Reuters, European Central Bank, ECB, ING, Moody's Locations: Rome, Italy, France, Spain, Germany, Austrian

☆ Expect ECB to cut rates between now and June, strategist says
▼ + stars: | 2024-03-26 | 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 EmailExpect ECB to cut rates between now and June, strategist saysBill Papadakis, macro strategist at Lombard Odier, also discusses the Swiss central bank's recent decision to cut interest rates and the outlook for the U.S. Federal Reserve's monetary policy.

Persons: Bill Papadakis, Lombard Odier Organizations: U.S, U.S . Federal Locations: Swiss, U.S .

☆ Intervention threat curbs dollar's ascent towards new high on the yen
▼ + stars: | 2024-03-25 | by ( ) www.cnbc.com time to read: +3 min

The dollar was on the front foot on Monday and kept the yen pinned near a multi-decade low, though the threat of currency intervention from Japanese authorities prevented the greenback from heading further north. "Japanese officials' verbal intervention is making 152 a very strong near-term resistance for dollar/yen," said Carol Kong, a currency strategist at Commonwealth Bank of Australia. "Markets are fully aware of a potential actual FX intervention from authorities, so I think that's keeping dollar/yen from moving substantially higher. "I think there is still a high risk that they will come in to prop up the yen if dollar/yen were to surge materially perhaps to 155. The yuan has been pressured by growing market expectations of further monetary easing to prop up the world's second-largest economy.

Persons: Carol Kong, That's, BoE, Andrew Bailey, Chris Weston Organizations: Bank of Japan's, Commonwealth Bank of Australia, Federal Reserve, European Central Bank, Bank of England, Swiss National Bank, Sterling, Financial Times, ECB, New Zealand Locations: Japan, United States

☆ European Central Bank’s Lagarde signals June cut but says future rate path uncertain
▼ + stars: | 2024-03-20 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Christine Lagarde, president of the European Central Bank, at the ECB And Its Watchers conference in Frankfurt, Germany, on March 20, 2024. European Central Bank chief Christine Lagarde on Wednesday reiterated that policymakers will consider bringing interest rates down in June, but sketched an uncertain path beyond that. "By June we will have a new set of projections that will confirm whether the inflation path we foresaw in our March forecast remains valid," Lagarde said in a speech in Frankfurt. Data available by June will also provide more insight into the path of underlying inflation and the direction of the labor market, according to Lagarde. So, there will be a period ahead where we need to confirm on an ongoing basis that the incoming data supports our inflation outlook."

Persons: Christine Lagarde, Lagarde Organizations: European Central Bank, ECB Locations: Frankfurt, Germany, ECB's

BRUSSELS (AP) — The European Union is pressing ahead with a plan to use the profits generated from billions of euros of Russian assets frozen in Europe to help provide weapons and other funds for Ukraine, a senior official said Tuesday. The move comes as Ukraine runs dangerously low on munitions, and U.S. efforts to get new funds for weapons have stalled in Congress. A small group of member countries, notably Hungary, refuse to supply weapons to Ukraine, so these windfall profits would be divided up. The European Central Bank, or ECB, has warned in the past against seizing Russian assets as this could undermine confidence in the euro currency and EU markets. But Borrell said that no assets would be taken, only the windfall profits they make.

Persons: Josep Borrell, “, ” Borrell, Borrell, Alexander De Croo Organizations: Ukraine, EU, European, Parliament, European Central Bank, ECB, Belgian Locations: BRUSSELS, Europe, Brussels, Ukraine, U.S, Russian, Belgium, Hungary, russia, ukraine

☆ Why European stocks may soon start to outperform US equities, according to JPMorgan
▼ + stars: | 2024-03-18 | by ( Aruni Soni | ) www.businessinsider.com time to read: +3 min

There are five reasons why European stocks may soon start to outperform US equities, according to JPMorgan. According to JPMorgan, European equities may soon outperform their American peers. Even though European stocks are also susceptible to a hiccup because of increasingly hyped-up trades, the firm says fallout would be much worse in the US stock market. Third, the Citigroup Economic Surprises Indices shows that European economic activity momentum has begun moving above that of the US. AdvertisementLastly, JPMorgan sees an improving economic picture in China, which is a green flag for export-heavy European markets.

Persons: —, Mislav Matejka, There's Organizations: JPMorgan, Service, outstripping, MSCI, Citigroup, European Central Bank, ECB Locations: China

☆ Fed and other banks to make 'major progress' on rates this year, BIS chief says
▼ + stars: | 2024-03-18 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

The Federal Reserve and the European Central Bank look poised to make "major progress" in cutting interest rates this year, according to the central bank of central banks. BIS serves as a bank and forum for national central banks, and as such has close understanding of their monetary policies. During its March meeting, the ECB held interest rates steady, but hinted at a June rate cut as it trimmed its annual inflation forecast. The Fed and the Bank of England are expected to shine future light on their plans for interest rates during their monetary policy meetings this week. The Bank of Japan is meanwhile predicted to lift interest rates on Tuesday, according to a Reuters poll, marking a major turn in its nearly two-decade-long cycle of negative interest rates.

Persons: Carstens, Annette Weisbach, disinflation, Philip Lane, JP Morgan, Goldman Sachs, BoE Organizations: Federal Reserve, European Central Bank, Bank for International, CNBC, BIS, ECB, Bank of England, Goldman, Bank of Japan

☆ European markets set to open lower after hotter-than-expected U.S. inflation data
▼ + stars: | 2024-03-15 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

European markets were poised to open slightly lower on Friday as investors digested U.S. inflation data that dented confidence in the outlook for Federal Reserve interest rate cuts this year. U.S. inflation data is being closely monitored on Wall Street ahead of the Federal Reserve's two-day policy meeting starting next Tuesday. The central bank is widely expected to hold its benchmark interest rate next week, although market participants will be searching for clues about when and by how much the Fed could start cutting interest rates over the coming months. Asia-Pacific markets fell on Friday, led lower by Hong Kong's Hang Seng index. U.S. stock futures edged lower in overnight trading as investors sought to look beyond the latest inflation reading.

Persons: Philip Lane, Kong's Organizations: Federal Reserve, Federal, European Central Bank, CNBC, ECB Locations: U.S, Asia, Pacific

☆ Watch's CNBC's full interview with ECB Chief Economist Philip Lane
▼ + stars: | 2024-03-14 | 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 EmailWatch's CNBC's full interview with ECB Chief Economist Philip LanePhilip Lane, chief economist at the ECB, discusses the outlook for central bank monetary policy, especially interest rates.

Persons: Philip Lane Philip Lane Organizations: ECB

☆ ECB has 'fairly stable view' that inflation is easing: Chief economist
▼ + stars: | 2024-03-14 | 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 has a 'fairly stable view' that inflation is on its way to 2%: Central bank's chief economistPhilip Lane, chief economist of the European Central Bank, discusses the path ahead for interest rates, saying the central bank needs to take its time to get rate cuts right.

Persons: Philip Lane Organizations: ECB, Central bank's, European Central Bank

☆ European Central Bank chief economist says we need to 'take our time' to get rate cuts right
▼ + stars: | 2024-03-14 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The European Central Bank must take its time to get interest rate cuts right and will have a clearer picture of inflationary pressures in June, the institution's chief economist told CNBC. Lane, also a Governing Council member, said the euro zone central bank's March meeting had been an "important milestone" in the accumulation of evidence, and showed the "disinflation process has been ongoing." During the meeting, the ECB held rates and released updated macroeconomic projections, which lowered its inflation forecast for this year to 2.3% from 2.7%. Inflation in the 20-nation bloc eased to 2.6% in February. In a press conference following the March meeting, ECB President Christine Lagarde said market pricing on the timing of rate cuts — which indicate a start in June as of Thursday — "seems to be converging better" with the central bank's view.

Persons: what's, we've, Philip Lane, Steve Sedgwick, Lane, Christine Lagarde Organizations: European Central Bank, CNBC, ECB

☆ 2024 is the year of the rate cut pivot — here's when the world's central banks will budge
▼ + stars: | 2024-03-13 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +6 min

EIU also expects the Bank of Japan will exit its negative interest rate policy in the second quarter. Markets currently expect the Fed to start with a 25-basis-point rate cut in June. Euro zoneThe European Central Bank last week also held its policy rate at a record high of 4%, signaling that it won't cut rates before June. JPMorgan said in a research note that the Turkish central bank may cut its policy rate in November and December, keeping its year-end policy rate forecast of 45%. IndonesiaIndonesia's central bank kept its benchmark policy rate at 6% in its recent meeting.

Persons: EIU, Jerome Powell, LSEG, Nomura, Perry Warjiyo, CNBC's JP Ong, BOK, Goldman Sachs, Goohoon Kwon, Kwon Organizations: Getty, Economist Intelligence Unit, Bank of Japan, United, United States U.S, Federal, Fed, European Central Bank, ECB, Swiss National Bank, UBS, Bank of Canada, Bank of, JPMorgan, Reserve Bank of, ANZ, New Zealand Auckland Savings Bank, Bank, Bank Indonesia, BMI, Fitch Solutions, U.S, Oxford Economics, Macquarie Locations: Czech, China, Japan, United States, Switzerland Swiss, Bank of Canada, Turkey, Turkish, Reserve Bank of Australia, New, Indonesia, South Korea, Asia

☆ Yen gains as bets firm for imminent rate hike; sterling slides
▼ + stars: | 2024-03-11 | by ( ) www.cnbc.com time to read: +3 min

In this photo illustration, the man is holding several U.S. dollar bills with some Chinese yuan in the background. Sterling pulled back sharply from a multi-month high, following its best week since November of 2022, amid bets the Bank of England will be slower to cut rates than the Fed or European Central Bank. The greenback eased 0.17% to 146.82 yen , heading back toward the five-week low of 146.48 reached on Friday. The next Fed meeting runs March 19-20. The ECB left rates at record highs last Thursday while cautiously laying the ground to lower them later this year.

Persons: Sterling, Jerome Powell's, bitcoin Organizations: Bank of Japan, Federal Reserve, Bank of England, European Central Bank, Westpac, Fed, ECB

☆ 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 ends week under pressure as data keeps rate cut hopes alive
▼ + stars: | 2024-03-08 | by ( ) www.cnbc.com time to read: +4 min

The unemployment rate rose to 3.9% in February after holding at 3.7% for three straight months, the data showed. The euro got a lift this week as the dollar came under pressure after Federal Reserve Chair Jerome Powell sounded more confident about cutting interest rates in coming months. Currencies typically weaken if central banks lower interest rates. Against the yen, the dollar was 0.68% lower at 147.05 yen, its weakest since Feb. 2. Firming hopes that interest rates in the U.S. and Europe will start to fall in June also helped prop up the risk-sensitive Australian and New Zealand dollars.

Persons: Jerome Powell, Stuart Cole, Cole, Powell, Lindsey Bell, Kathleen Brooks, Sterling, BoE, Firming, bitcoin Organizations: Federal Reserve, Bureau of Labor Statistics, Equiti, ECB, Federal, Ventures, Bank of, Reuters, European Central Bank, U.S . Federal, Bank of England, New Locations: Japan, Charlotte , North Carolina, Bank of Japan, U.S, Europe, New Zealand

☆ European Central Bank hints at June rate cut as it trims inflation forecast
▼ + stars: | 2024-03-07 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The European Central Bank on Thursday lowered its annual inflation forecast, as its confirmed a widely expected hold of interest rates. ECB President Christine Lagarde, meanwhile, suggested market pricing for a June rate cut was coming into line with policymakers' outlook. Looking ahead, staff see inflation hitting the ECB's 2% target in 2025 and cooling further to 1.9% in 2026. They meanwhile updated their forecast for economic growth for 2024 to 0.6% from 0.8%, as the euro zone's economic activity escapes its current stagnation. The ECB will be "laser-focused" on two areas of inflation that could surprise, namely wage growth and profit margins, Lagarde said.

Persons: Christine Lagarde, Lagarde Organizations: European Central Bank, ECB

☆ Lackluster open expected for European markets ahead of ECB rate decision
▼ + stars: | 2024-03-07 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

Many growth stocks are becoming expensive, prompting some investors to turn to value stocks. "The S&P 500 at 5,075 with expected earnings growth of 10% for 2024 gives us $243 a share and puts us at 21X earnings - its pricey, plain, and simple," said Brian Szytel, senior managing director of The Bahnsen Group, in late February. The S&P 500 closed around 5,078 on Tuesday. "I would however, own parts of the market shift to more value-oriented names and believe that rotation that started in 2022 from growth to value will resume. Those interested in value stocks can consider the following from CNBC Pro's screen of the Vanguard Value ETF.

Persons: Brian Szytel, Weizhen Tan Organizations: CNBC, Vanguard

☆ Markets could be about to get a big clue on when the European Central Bank will cut rates
▼ + stars: | 2024-03-06 | by ( Annette Weisbach | ) www.cnbc.com time to read: +1 min

European Central Bank (ECB) President Christine Lagarde speaks as she presents the bank's 2022 Annual Report to the European Parliament, in Strasbourg, eastern France, on February 26, 2024. FRANKFURT — The European Central Bank will meet again this week amid falling inflation, a slight recovery in economic activity and the overall understanding that its next interest rate move will be downward. The only question really for markets is, when will that happen? Some months ago, the markets were convinced that the March meeting will be "the one." The recent consumer price readings showed a slowdown of headline inflation to 2.6% in February, but service prices still rose by 3.9% for the month.

Persons: Christine Lagarde, Dirk Schumacher Organizations: European Central Bank, ECB Locations: Strasbourg, France, FRANKFURT

☆ 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

☆ Dollar a spectator to China news, yen ponders rate risks
▼ + stars: | 2024-03-05 | by ( ) www.cnbc.com time to read: +3 min

There was more action in bitcoin , which gained 1.2% to $68,341 after surging more than 7% on Monday. The Japanese yen held steady after data showed Tokyo core inflation sped up to 2.5% in February, from 1.8% the previous month. "Accordingly, we're sticking to our forecast that the Bank of Japan will hike interest rates into positive territory next month." The dollar was a fraction lower at 150.44 yen , having again shied away from resistance around 150.85, which has capped the currency for more than three months now. The European Central Bank, or ECB, holds a meeting on Thursday and markets are convinced it will keep rates at 4.0%.

Persons: Marcel Thieliant, Jerome Powell, Sterling, Jeremy Hunt Organizations: People's Congress, Bank of Japan's, Capital Economics, Bank of, Federal Reserve, European Central Bank, ECB, Westpac, . Finance Locations: China, Tokyo, Japan, bitcoin, United States, Beijing, Asia, Bank of Japan

☆ European markets head for negative open as sentiment struggles ahead of ECB meeting
▼ + stars: | 2024-03-05 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European stocks are heading for a lower open as markets struggle to find positive momentum ahead of the European Central Bank meeting later this week. The ECB is expected to hold interest rates steady on Thursday even as inflation shows more signs of easing. Asia-Pacific markets are mixed as China's "Two Sessions" meeting got under way, with investors watching out for the details of its economic plans after the country projected a gross domestic product growth target of "around 5%" for 2024. The country is set to boost its defense spending by 7.2% in 2024. U.S. stock futures ticked lower Monday night after the Nasdaq Composite retreated from its record high.

Organizations: European Central Bank, ECB, Nasdaq Locations: Asia, Pacific

☆ Dollar eases as Fed clues awaited; bitcoin hits 2-year high
▼ + stars: | 2024-03-04 | by ( ) www.cnbc.com time to read: +3 min

U.S. one hundred dollar bills are being shown in this picture illustration taken in Buenos Aires, Argentina, on Dec. 15, 2023. The U.S. dollar drifted weaker on Monday, pressured by lower Treasury yields, as traders waited for more crucial economic data for fresh clues on the timing of Federal Reserve interest rate cuts. The U.S. dollar drifted weaker on Monday, pressured by lower Treasury yields, as traders waited for more crucial economic data for fresh clues on the timing of Federal Reserve interest rate cuts. The euro was firm following Friday's 0.33% advance, with a European Central Bank, or ECB, policy decision looming on Thursday. That also weighed on Treasury yields, removing additional support for the dollar, with the benchmark 10-year yield sliding as low as 4.178% for the first time in two weeks.

Persons: Bias, Jerome Powell's, Kazuo Ueda, Hajime Takata, Christine Lagarde's, Bitcoin Organizations: U.S, European Central Bank, Bank of, Treasury, Congress, Westpac, ECB Locations: Buenos Aires, Argentina

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