Eurozone Retail Sales experienced a sharp decline of 1.1% MoM in December, marking its steepest fall in a year. This unexpected drop came as a significant blow to the euro. Additionally, on an annual basis, Eurozone Retail Sales also saw a decline of 0.8% YoY in December. These figures were worse than market expectations, emphasizing
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The Pound Sterling (GBP), despite briefly showing signs of recovery, continues to struggle against the backdrop of a bearish market sentiment. This struggle is compounded by the cautious approach of the Federal Reserve (Fed) towards interest rate cuts, further dampening the appeal of risk-sensitive assets. Additionally, the UK economy teeters on the brink of a
UBS, one of the world’s largest wealth managers, has exceeded fourth-quarter earnings expectations. Despite consecutive losses due to Credit Suisse integration, the bank reported a narrower net loss of $279 million, surpassing the forecasted loss of $372 million. This impressive performance has led to a significant share buyback plan worth $1 billion and a 27%
Swiss banking giant UBS reported a net loss for the fourth quarter of the previous year but narrowly beat analysts’ expectations. Despite posting a loss for the second consecutive quarter due to integration costs related to fallen rival Credit Suisse, UBS plans to recommence share buybacks worth up to $1 billion in the second half
The Central Bank of Australia announced today that it will maintain the current interest rate of 4.35%, as anticipated by analysts. However, the bank’s management raised concerns about persistently high inflation and hinted that further rate hikes may be necessary. This cautious yet firm stance indicates that any possibility of policy easing in the near
Inflation and the US presidential election are projected to be the primary factors influencing global markets this year, with traders expressing their concerns in a recent survey conducted by JPMorgan. While the market initially saw hope in slowing inflation leading to significant rate cuts by central banks, recent events have prompted a reevaluation of these
In an interview with Yasser Rezvi, the head of asset liability management at the Inter-American Development Bank (IDB), it was revealed that the bank is planning to offload the risk on some loans in order to expand its lending capacity. This new approach involves shifting away from issuing hybrid bonds, a strategy that the IDB
The US dollar has seen a significant increase in strength against the Euro, with the EUR/USD pair falling to 1.0770 by Monday morning. This movement is largely attributed to the recent release of robust employment sector reports in the US for January, which have shifted investor expectations regarding the Federal Reserve’s interest rate decisions. The
The Indian Rupee (INR) has lost traction in recent days, largely due to the strengthening of the US Dollar (USD). Investors are closely monitoring the Reserve Bank of India (RBI) as it is expected to keep interest rates unchanged. Additionally, the US ISM Services PMI report for January is anticipated to provide further insight into
Asian markets are preparing for a wave of economic data from the Asia-Pacific region on Monday. Investors are eager to react to the strong U.S. employment numbers from Friday, as well as address the growing concerns surrounding China’s economy. This article will analyze the potential impact of the economic data on Asian markets and explore
Federal Reserve Chair Jerome Powell, in an interview with “60 Minutes,” revealed that the central bank plans to proceed cautiously with interest rate cuts this year, moving at a slower pace than what the market expects. Despite the strength of the economy, Powell emphasized the need for more evidence that inflation is moving toward the
In January, the Judo Bank Services PMI increased from 47.1 to 49.1, surpassing the preliminary reading of 47.9. This indicates a slight improvement in the Australian economy, which relies heavily on the services sector accounting for over 60% of the country’s GDP. However, the narrowing of the Australian trade surplus from A$11.437 billion to A$10.959