LONDON (Archyde.com) – The euro fell below $1.06 for the first time in five years once morest a broadly higher dollar on Wednesday, amid concerns regarding energy security and slowing growth in China and Europe. The euro fell to a five-year low of $1.05890 following Russia’s energy giant Gazprom said it would cut gas supplies to Poland and Bulgaria. In the latest trading, the euro fell 0.16 percent, recording $1.0616 by 08:00 GMT. The single European currency has witnessed so far this month a decline of more than four percent and is heading to record the worst monthly loss in more than seven years, as uncertainty due to the war in Ukraine and the closure to combat Covid-19 in China led to investors dumping the euro in favor of the dollar, which is a safe haven. Data also showed that consumer confidence in France, the second largest economy in the euro zone, fell more than expected in April. The dollar index, which measures the performance of the US currency once morest a basket of six competing currencies, rose 0.3 percent to 102.6, following touching the highest level since the early days of the pandemic. The dollar also supported investors’ bets that interest rates would rise in the US faster than in all other major economies. The Chinese yuan picked up its breath, following falling to a 13-month low on Monday and settling at 6.5547 once morest the dollar. Data also showed that Chinese industrial profits grew at a faster pace in March. The British pound fell to a new low, the lowest in 21 months, recording $1.2543. The British currency fell more than 2 percent once morest the dollar this week as data on retail sales caused a rethink of interest rate expectations in the country. Commodity-related currencies also witnessed selling in favor of the safe-haven US dollar, which pushed the New Zealand dollar to its lowest level since January, recording $0.6551. The Norwegian krone fell once morest the dollar to its lowest level since November 2020, recording 9.2200. The dollar’s strength also curbed the recovery of the Japanese yen, which had received some support, which led to a decline of 0.7 percent to 127.93 per dollar.
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The British pound fell to its lowest level in 18 months
written by Alexandra Hartman Editor-in-Chief
The British pound is falling to its lowest level once morest the dollar since late 2020 following signs that Britain’s economic growth is facing risks.
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The British pound fell below $1.29 for the first time since November 2020
The British pound fell, on Friday, to its lowest level once morest the dollar since late 2020, following pessimistic data on retail sales and consumer confidence data indicated that economic growth in Britain faces risks.
The British pound fell below $1.29 for the first time since November 2020 to reach its lowest level at $1.2858. It fell 1.2% in the latest trading today, heading for the largest drop in one day in two months.
Sterling also fell once morest the euro to its lowest level since April 4, following it last fell more than 1% to 84.03 pence per euro, in its worst day once morest the single currency in 7 months.
UK retail sales fell 1.4% in March compared to February, much more than expectations for a 0.3% decline in a Archyde.com poll.
British consumer sentiment fell to its second lowest level ever since records began nearly 50 years ago, with the deepening cost of living crisis taking its toll on household confidence in the economy.
The “world summit” between Man City and Liverpool is worth two billion euros
written by Alexandra Hartman Editor-in-Chief
The world of football is awaiting the English summit, scheduled for 6:30 this followingnoon, Beirut time, which will bring together leaders and champions Manchester City, Manchester City, and runner-up Liverpool, who are one point away from them, in the thirty-second round of the Premier League.
It can be asserted that the match currently represents the top of the world in football, as the market value of the players of the two teams amounts to two billion euros, and has become financially and technically stronger and more important than the “Earth Clasico” that combines Real Madrid and Barcelona in Spain.
In the language of history, the letters stand next to “City”, as Liverpool have failed to beat it at home since 2015, but the matter is different now, the confrontation is a life-or-death battle, and the “Reds” are at their best, which he admitted Pep Guardiola, coach of Manchester City.
The “philosopher” said that there are a few weak points in Liverpool that his team can exploit, adding, “In the times when we face them, there are always other matches inside the match, many decisions, many procedures, and many details from both sides.”
Guardiola continued, “Both teams are good, but we try to explore their weaknesses, they are few but we try to reveal them, and at the same time, we are playing at home and in front of our fans, and we have to play our way, we have faced them many times already, not only in the Premier League, and they were all Very good matches.”
Guardiola concluded, anticipating some difficult moments for Manchester City, considering that the fans at the Etihad Stadium will have a major role.
As for the history of their personal confrontations, the Spaniard has won nine times, the German Jurgen Klopp, the coach of Liverpool has won nine times, and they have drawn on four occasions.
The dollar index touches 100 points for the first time in two years
written by Alexandra Hartman Editor-in-Chief
LONDON (Archyde.com) – The dollar index rose to 100 points for the first time in nearly two years on Friday, boosted by prospects of an acceleration in US interest rates. The dollar rose once morest a basket of rival currencies over the past month, especially once morest the euro, which came under pressure due to investor concerns regarding the economic costs of the ongoing war in Ukraine and the presidential election in France, which is witnessing a heated competition. The dollar index climbed to a high of 100 points in early European trading hours. , which is its best performance since May 2020. It later lost some momentum and settled in the latest trading at 99.876. The index rose 1.4 percent this week in its largest increase in a month, supported by statements tending to tighten monetary policy from many policy makers at the Federal Reserve (the US central bank) who are calling for a faster pace of raising interest rates to curb inflation. The euro fell to a new one-month low of $1.0848. It was last down 0.2% at $1.0865. Thursday’s European Central Bank meeting minutes indicated that policy makers are keen to combat inflation, but the euro zone has so far taken a more cautious stance than other central banks, which has weakened the euro. The dollar extended its gains once morest the Japanese yen, recording 124.23, the highest level in more than a week, close to its best performance in seven years at 125.1 recorded last month. The yen has stabilized this month following falling in March, but remains under pressure as the US raises interest rates and the Bank of Japan intervenes in the bond market to keep rates low. The British pound fell once morest the US currency, falling 0.2 percent in the latest trading, recording $1.30475. In the cryptocurrency markets, bitcoin rose one percent to regarding 43,890 dollars.