Eurozone inflation falls to 1.2 pct in February
Euro zone government bond yields drifted lower on Monday with Germany's benchmark Bund yield briefly touching a one-month low, as investors positioned for a run of potentially market-moving data and events this week.
After a strong start to the year in which investors speculated the European Central Bank would withdraw stimulus as the region's economy recovered well, the euro has stumbled. In his first question and answer session before Congress, Powell struck an optimistic tone on the US economy while signaling to investors that the Fed may raise interest rates four times this year, one more than what markets had expected.
The euro fell 0.2 percent to $1.2215, its lowest since January 18, while the dollar against a basket of currencies rose 0.2 percent to 90.5, a three week high.
"The market perceived Powell to be hawkish and a softer CPI number out of Europe".
But despite the economic upswing, inflation remains low and well below the central bank's two percent target, which may give ECB head Mario Draghi second thoughts about turning the stimulus off completely this year.
"The negative Fed talk has had little impact on bonds or euro area peripherals", analysts at Societe Generale said in a note.
The British Pound fell to its lowest level since January 17 on renewed concerns over Brexit after the European Union's chief Brexit negotiator said a transition deal was not guaranteed while the prime minister said the EU's draft legal text would undermine Britain.
Itau Unibanco Holding SA Has $375000 Position in Macy's Inc (NYSE:M)
Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued. Earnings per share (EPS) is the portion of a company's profit allocated to each outstanding share of common stock.
Oakland Mayor's Tweet of Pending Immigration Raids Causes Stir
The Trump administration has attempted to punish sanctuary cities for refusing to comply with federal detention orders. ICE interim director Homan claims the Justice Department is looking into whether Schaaf's warning broke the law.
Travis Scott Gives Kylie Jenner $1.4M Ferrari Push Present
In fact, in a shocking turn of events, it was revealed that Ky returned to work just DAYS after giving birth to Stormi Webster . Her baby daddy , Travis Scott , 25, also took to Snapchat to on Thursday, March 1, in honor of Stormi's one-month birthday.
The German finance agency sold 2.413 billion euros in a top-up of its 10-year Bund on Wednesday with demand falling short of its 3 billion euros target. But the jury is still out on whether the dollar is enjoying only a temporary bounce amid a prolonged period of weakness.
The dollar fell 0.2 percent to 107.18 yen.
Most eurozone government bond yields edged lower on the day - implying lower borrowing costs.
BoJ officials have said that any changes to bond-buying operations are fine tuning and not meant as hints to future policy.
On Wednesday, the EUR/USD settled at 1.2193, down 0.0040 or -0.32%.
The GBP/USD settled at 1.3758, down 0.0150 or -1.08%.
Recommended News
-
02 March 2018IOC lifts Russia's Olympic ban after Pyeongchang
Russia's Olympic membership has been restored by the International Olympic Committee (IOC) following its suspension from Pyeongchang 2018.02 March 2018Weather Warning Upgraded Ahead Of Snow
A Status Red was originally due to come into force today at 4pm, but as of last night, it is in force. Mayo recorded a temperature of 1 degree, while Cork Airport clocked in the lowest at -3 degrees.
02 March 2018Twitter Introduces All New Feature: Twitter Bookmarks and Direct Message
Social media giant Twitter rolled out three new features globally on Thursday, including the much desired " Bookmark " feature. Twitter announced February 28 that it would introduce a Bookmark feature to its service. -
02 March 2018Karti Chidambaram to remain in CBI custody till March 6
He quoted in his submissions that CBI has not issued him summons in the last six months, after which an arrest was suddenly made. The BJP spokesperson Gaurav Bhatia tweeted: "The INC has nothing to say on merits when it comes to Karti Chidambaram's arrest".
02 March 2018Head of Nation's Biggest Teachers' Union Says Arming School Teachers is "Insane"
Simply have them register their handgun with the local school resource officer who in turn forwards the info to his department. Then what? Someone gets shot because we put the gun in the classroom? "We have to minimize the vulnerability of our schools".
02 March 2018Slovakia police detain Italians named in murdered journalist's last report
The murders have raised concerns about media freedoms and corruption in Slovakia and sparked a wave of worldwide condemnation. No details were immediately available. -
02 March 2018Best Buy to shutter all its mobile phone stores by May
This is because it seems that more customers are going to carrier stores and also stores like Apple to buy their phones directly. Some of Best Buy's competitors, like RadioShack and Hhgregg, have closed hundreds of stores and filed for bankruptcy protection.
02 March 2018Actress Heather Locklear Arrested on Suspicion of Domestic Violence in Thousand Oaks
As they were trying to handcuff her, Locklear allegedly kicked and struck three police officers, according to the Daily Mail. Locklear was arrested and medically cleared at a local hospital before she was booked into Ventura County jail .Sonam Kapoor loses cool at Sridevi's funeral
Many Bollywood industry celebs come under one roof and Madhuri Dixit and husband Sriram Nene visit to pay their last respects. The mortal remains of the veteran actress Sridevi were finally brought back to Mumbai on February 27, 2018. -
02 March 2018WH Communications Director Hope Hicks resigning
The White House announced on Wednesday that communications director Hope Hicks is stepping down after several weeks. Kelly's initial concern with Hicks was the uncertain nature of her role when he took over in July.
02 March 2018Miners report some infrastructure damage after Papua quake
PNG's department of geohazard management said more aftershocks were likely, with the largest so far measured at magnitude 5.5. Papua New Guinea is home to 7 million people on the eastern half of the island of New Guinea, to the east of Indonesia.
02 March 2018Pressure Mounting in Mexico for NAFTA Round Seven
Mexico made concessions to the U.S. sugar industry to reach a deal, eager to avoid a stand-off before the NAFTA talks kicked off. When it comes to pork, one of Iowa's top industries, 40 percent of USA export volume went to Mexico and Canada previous year .
