Over the last few months, market experts have been sounding the death knell for the United States’ dominance in world trade and the effectiveness of the dollar as the reserve currency, which has historically enjoyed strong investor confidence.
The Governing Council of the European Central Bank (ECB) left key interest rates unchanged, in line with market expectations, following its September monetary-policy meeting. Interest rates on main refinancing operations currently stand at 0.00 percent
The IHS Markit Eurozone Manufacturing PMI (Purchasing Managers’ Index) came in at 56.2 for April, below the 56.6 reported in March and higher than the flash estimate reading at 56.
Japan has traditionally had an affinity towards an eased monetary policy. The Bank of Japan (BoJ) has over the last decade or so stuck to lower interest rates and on-and-off bond-buying, even while fighting to push the inflation level to 2 percent.
IHS Markit’s eurozone manufacturing PMI (Purchasing Managers’ Index) rose to 58.1 in September from 57.4 the previous month on the back of expansion in new orders and output across the eight major countries covered in the region.
The European Central Bank (ECB) released the minutes of the September 6-7 Monetary Policy Committee meeting in the first week of October, revealing the division between policymakers who want the asset-buying program to be extended and those who want the tapering to get underway from January 2018.
The ECB’s monetary policy in September was a non-event, with the governing council neither making any changes to the existing policy nor adding new ones as they voted to leave interest rates and non-monetary policies on hold.
The European Union (EU) came into existence in 1945 following the end of the Second World War. The Union was initially formed with six countries: Germany, France, Belgium, Italy, Luxembourg and the Netherlands to put an end to the frequent conflicts
Since the beginning of 2017, the euro keeps strengthening against the US dollar, with around a 10-percent increase between January 2 and June 29, from $1.04 per euro to more than $1.144 per euro.