The government of Mario Draghi came to an end earlier than what many analysts expected. Anadolu Agency | Anadolu Agency | Getty Images Mario Draghi is best known for saving the euro. But a coveted rescue of the Italian economy ended prematurely when internal politics came to the fore last month, making it harder and … Read more
Investors should hide out in companies that make most of their money domestically, as a strong dollar hurts multinational companies, according to Goldman Sachs. “Earnings results and euro/dollar parity have turned the focus of our recent investor conversations to the impact of US dollar strength on equities,” David Kostin, Goldman’s head of US equity strategy, … Read more
Glowimages | Glowimages | Getty Images It’s a good time to be an American traveling abroad. The value of the US dollar has been at its strongest in years relative to many major global currencies of late—meaning travelers can buy more overseas than in the recent past. Put another way, Americans are effectively getting a … Read more
The European Central Bank is increasing interest rates for the first time in 11 years. But in Italy, political turmoil is back. Bloomberg | Bloomberg | Getty Images The European Central Bank on Thursday increased interest rates for the first time in 11 years in an attempt to cool rampant inflation in the euro zone. … Read more
The ECB has announced it will be hiking rates in July and September to counter record inflation. Daniel Roland | Afp | Getty Images FRANKFURT, Germany – The European Central Bank’s Governing Council on Thursday is expected to have deep and candid talks about the size of its first rate hike in 11 years, with … Read more
SINGAPORE – Shares in the Asia-Pacific were mixed on Wednesday ahead of China trade data and central bank decisions in the region. Japan’s Nikkei 225 rose 0.33%, and the Topix index gained 0.20% In South Korea, the Kospi advanced 0.38% and the Kosdaq was 0.62% higher. The S & P / ASX 200 in Australia … Read more
A financial trader monitors data on computer screens as a desktop television shows euro currency banknotes at the Frankfurt Stock Exchange in Frankfurt, Germany. Martin Leissl | Bloomberg | Getty Images The euro hovered close to parity with the US dollar on Tuesday, as the euro zone’s energy supply crisis and economic woes continue to … Read more
A picture taken on November 7, 2017 shows people arriving at the headquarters of Nike Europe in Hilversum. AFP Contributor When athletic apparel giant Nike disclosed on June 27 that a strong US dollar weighed on sales in its most recent quarter and the rising value of the greenback would keep pressuring sales in fiscal … Read more
A financial trader monitors data as a television shows euro currency banknotes at the Frankfurt Stock Exchange in Germany. Martin Leissl | Bloomberg | Getty Images The euro dropped below $ 1.02 this week, continuing its slide to new 20-year lows and potential parity with the US dollar. The euro traded as low as $ … Read more
LONDON – European stocks are expected to open higher on Wednesday as markets look to reverse a negative slide in the previous trading session. The UK’s FTSE index is seen opening 79 points higher at 7,096, Germany’s DAX 159 points higher at 12,550, France’s CAC 40 up 82 points at 5,867, and Italy’s FTSE MIB … Read more