News 

Daimler, BMW to invest more than 1 billion euro in mobility services

“Shareholders look at Mercendes-Benz cars during Daimler annual shareholder meeting in Berlin Thomson Reuters BERLIN (Reuters) – German carmakers Daimler and BMW deepened their cooperation on Friday by unveiling a combined ride-hailing, parking and electric car charging business to counter emerging rivals like Uber from the United States” reports businessinsider.com. The luxury car manufacturers said they have earmarked more than 1 billion euros ($1.13 billion) to expand their mobility services business as carmakers move beyond manufacturing and selling cars, toward a pay-per-minute system based on vehicle usage. Daimler’s Car2Go car-sharing…

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News Regulators 

Euro zone core inflation edges higher in Jan

“European Central Bank policymakers took a gloomy view of the euro zone economy at their last policy meeting and asked for swift preparations for giving banks more long-term loans, minutes of the meeting showed” reports businessinsider.com. People walk through Mall of Berlin shopping centre during its opening night in Berlin Thomson Reuters By Jan Strupczewski BRUSSELS (Reuters) – Euro zone headline consumer inflation slowed slightly in January because of a sharp deceleration of energy price growth, but core inflation watched closely by the European Central Bank in policy decisions edged…

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News 

EUR/USD Forecast Feb. 18-22 – Soft German and eurozone data weighing on euro

“The German and eurozone economies are in slowdown mode, as inflation, GDP and manufacturing data continue to struggle” writes Kenny Fisher for forexcrunch.com. We’ll also get a look at German and  eurozone PMIs.If there is a breakthrough in the conflict between the U.S. and China, sentiment could improve for the euro. Source: forexcrunch.com

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News 

Italian investors get a preview of what to expect ahead of EU elections in May

“10-year bond yields are up by 8.8 bps on the day currently after Lega lawmaker, Claudio Borghi, provided a glimpse of what to expect ahead of the European Parliament elections in May” reports forexlive.com. If you’re wondering what’s dragging down the euro today, let’s just say that headlines like that won’t help as it only puts more focus on the risks the single currency is set to face in the coming months. As for other reasons, the fact that markets are growing more bearish about the ECB and its inflation…

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GBP Markets News 

Euro also vulnerable to a hard Brexit – BofAML

“In a note to its clients, BofAML notes that a hard Brexit would also be a shock for the Eurozone economy at a time when momentum is already slowing” reports forexlive.com. The firm argues that this would present a downside case not only for the pound but for EUR/USD and EUR/JPY as well.”If a hard Brexit triggers a recession in the weak parts of the Eurozone, such as in Italy, the economy may be affected more than markets currently expect”, says the note.Adding that “if markets question the sustainability of…

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Markets News 

Dollar near six-week highs as trade, growth worries ramp up

“The dollar rose against most other currencies on Monday, holding near a six-week high as fresh worries about U.S.-Sino trade tensions and global growth drove appetite for safe-haven assets” writes unknown author for cnbc.com. Trade tensions between the world’s two largest economies have been a major driver of global investor sentiment over the past year.The European Commission sharply cut on Thursday its forecasts for euro zone economic growth for this year and next with the bloc’s largest economies expected to be held back by global trade tensions and domestic challenges.”The…

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News 

EUR/USD Forecast Feb. 11-15 – Euro slips on weak retail sales, manufacturing reports

“The German and eurozone economies continue to produce weak numbers, underscored by weak scores in retail sales and manufacturing” writes Kenny Fisher for forexcrunch.com. The bank revised downwards its growth forecast for the eurozone to 1.9% in 2018, from 2.1% in the November forecast.For 2019, the growth forecast has also been revised down to 1.5%, compared to 1.9% in the November forecast.The European Commission economic forecasts projected moderate growth in the eurozone for 2019, but warned that significant uncertainties lie ahead.Eurozone retail sales plunged 1.6% in January, its worst reading…

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Markets News 

Dollar gains as growth worry sparks flight to safety; Aussie weakens

“The dollar is being supported by worries over global growth and external factors,” said Sim Moh Siong, currency strategist at Bank of Singapore” writes unknown author for cnbc.com. The Aussie has shed 2.4 percent of its value so far this week after the central bank signalled a shift from its long-standing tightening bias earlier this week.The Aussie dollar fell 0.3 percent to $0.7076 in Asian trade as the Reserve Bank of Australia cut its growth forecasts.”Markets are waiting to see what policy measures can stabilise growth worldwide…until then, it’s hard…

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