News 

VW brand to cut up to 7,000 jobs for 5.9 billion euro annual savings goal

“WOLFSBURG, Germany (Reuters) – Volkswagen on Wednesday said it will shrink its workforce by up to 7,000 staff, raise productivity and eke out 5.9 billion euros worth of annual savings at its core VW brand by 2023 in a bid to raise VW’s operating margin to 6 percent” writes Midwest Communications Inc for 95kqds.com. “The measures from the earnings improvement program will enable our brand to achieve a competitive return level of six percent in 2022,” Arno Antlitz, Volkswagen brand’s board member for controlling, said in a statement. Source: 95kqds.com

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GBP News 

British pound jumps against dollar, euro ahead of key Brexit vote Tuesday

“The British pound rose sharply against the U.S. dollar and the euro on Monday, gaining more than 1% against each rival currency, ahead of a key Brexit vote in the British Parliament on Tuesday” writes Markets Reporter for marketwatch.com. Meanwhile, in the U.K., pro-Brexit lawmakers said they would examine any changes to May’s original deal when it will be presented Tuesday.According to local reports, U.K. Prime Minister May was headed to the European Parliament in Strasbourg, France on Monday for last-minute talks with EU officials regarding her Brexit deal.The euro…

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News Regulators 

EUR/USD Forecast March 11-15- Dovish ECB sends euro to 21-month low

“With the ECB in no mood to raise rates anytime soon, investors are not finding the euro particularly attractive, even with the Fed sending a dovish message to the markets” writes Kenny Fisher for forexcrunch.com. Nonfarm payrolls were a disaster, plunging to just 20 thousand, This was much worse than the forecast of 180 thousand.Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD. A dovish message from the ECB was clearly not to investors’ liking, as the euro fell sharply. Source: forexcrunch.com

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News Regulators 

Dollar retraces gain ahead ahead of jobs report

“The dollar was weaker in early Friday trading, retracing gains from the previous session, ahead of the U.S. jobs report” writes Markets Reporter for marketwatch.com. Brexit Brief: Theresa May makes final deal pitches ahead of crunch vote Want news about Europe delivered to your inbox?. In the U.K., Prime Minister Theresa May will have a last stab at asking the European Union for a better Brexit deal, ahead of the presumably final vote in the British Parliament next week on May 12. Source: marketwatch.com

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Markets News 

EUR/USD experiences some calm after overnight drop, what are the charts saying?

“As it stands, yesterday’s rate/forward guidance shift doesn’t do much to alter pricing of ECB rate hikes by markets” reports forexlive.com. But in the context of expectations for yesterday’s meeting, it was the most dovish the central bank could’ve afforded to communicate to markets. Source: forexlive.com

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Markets News Regulators 

Euro nears 21-month low after dovish ECB and ahead of US jobs data

“The February U.S. jobs report to be released as 1330 GMT could stack more pressure on the floundering euro” writes unknown author for cnbc.com. The euro struggled near a 21-month low against the dollar on Friday, hurt by a series of dovish signals from the European Central Bank, with the currency market bracing for further volatility ahead of U.S. jobs data later in the day.That in turn would weigh on the euro, caught in a downward spiral after the ECB meeting and also shackled with Brexit woes, Ishikawa said.Economists polled…

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News Regulators 

Euro tumbles to lowest level since 2017 as ECB says rates will be lower for longer

“On the rate front, the central bank had previously said it would hold off on any rate hikes until some point after this summer” writes Deputy Markets Editor for marketwatch.com. The ECB on Thursday announced it would launch a new round of targeted longer-term refinancing operations, or TLTROs, to eurozone banks.The euro EURUSD, -1.0435% which had been little changed ahead of the policy decision, slipped to $1.1182, compared with $1.1309 late Wednesday, hitting its lowest level since June 2017, according to FactSet.The peso hit an intraday low of 42.60 versus…

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News Regulators 

Gold prices finish lower as ECB news pressures the euro, lifting the dollar

“Weakness in the currency led to a stronger U.S. dollar, which often weighs on dollar-denominated prices of gold” writes Markets Commodities Reporter for marketwatch.com. The dollar, as measured by the ICE U.S. Dollar Index DXY, +0.83% was up 0.6% at 97.414 as gold futures settled.The euro EURUSD, -1.0788%  fell to four-month lows after the ECB said its ultralow interest rates wouldn’t rise at least until late 2019.April gold GCJ9, -0.12% fell by $1.50, or 0.1%, to settle at $1,286.10 an ounce after touching an intraday low of $1,280.80. Source: marketwatch.com

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News Regulators Stocks 

Global Stocks Stuck in Worst Run of the Year Ahead of ECB

“The global growth worries overshadowed generally solid economic data in the U.S. on the labor market and worker productivity” writes Min Read for reuters.com. The dollar index rose 0.56 percent, with the euro down 0.74 percent to $1.1221.The euro weakened to a four-month low of 1.1216 and the dollar rose against a basket of major currencies after the ECB announcement. Source: reuters.com

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