A new platform to expand the reach of China’s digital yuan and other central bank digital currencies is moving closer to reality, raising eyebrows among some defenders of a system long dominated by the dollar. The Beijing-backed digital prototype for sending money around the world without relying on US banks is advancing so quickly that … Read more
Market measures of inflation risk in Europe are testing record highs and posing a challenge to European Central Bank officials as they eye the end of their historic tightening cycle. A gauge of future inflation closed at its highest level since 2010 Monday, pointing to an average pace of 2.67% from 2028-2033. The move comes … Read more
I’m William Horobin, an economics reporter in Paris. Today we’re looking at the combined impact of monetary and fiscal tightening on the euro zone. Send us feedback and tips to ecodaily@bloomberg.net or get in touch on X (formerly known as Twitter) via @economics. And if you aren’t yet signed up to receive this newsletter, you … Read more
A closely watched measure of US inflation will probably illustrate more of the moderate price growth that the Federal Reserve wants to see sustained. The consumer price index is projected to rise 0.2% in July for a second month after excluding food and energy costs, marking the smallest back-to-back gains in 2 1/2 years. Economists … Read more
Stepping into the new month, investors will eye a host of stock market triggers in the coming week including the ongoing first quarter results of current fiscal (Q1FY24), domestic and global macroeconomic data, foreign capital inflow, and key decisions from global central banks. Stepping into the new month, investors will eye a host of stock … Read more
Hiring in the US probably increased at a healthy yet more moderate clip this month, representing a vote of confidence about the demand outlook after a solid first half of the year. The closely watched jobs report on Friday is projected to show employers boosted payrolls by 200,000 in July, while unemployment held at a … Read more
The Federal Reserve, European Central Bank and Bank of Japan headlined a pivotal week for central banks, with US and European policymakers opting for additional interest-rate hikes. The Fed and ECB both lifted borrowing costs by a quarter of a percentage point while keeping options open for their next meetings in September. In Japan, the … Read more
Stock Market Today: Dow, S&P Live Updates for July 7 Bloomberg Source link
Europe has a dream that the euro will overtake the U.S. dollar as the world’s reserve currency. It’s an old dream, but it’s based on a misconception. In his last State of the Union speech as president of the European Commission, Jean-Claude Juncker pledged “to strengthen the international role of the euro.” Yet the dollar’s … Read more