HomeFinancial MarketsEuro Eases Against Dollar As Investors Await Clues On ECB Interest Rate...

Euro Eases Against Dollar As Investors Await Clues On ECB Interest Rate Path

The euro fell against the US dollar on Wednesday as investors looked toward incoming market and inflation data in an effort to uncover clues as to the path that the European Central Bank (ECB) and the Federal Reserve will take with regard to their interest rate policies.

Spain reported that its consumer prices rose 2.6% year-on-year in August, up from 2.3% in July. This fell directly in line with analysts’ predictions. German state North Rhine-Westphalia (NRW) saw a 5.9% year-on-year rise in inflation, up from 5.8% in July and signifying that the ECB may not bring an end to its interest rate hikes anytime soon.

Money markets are pricing a 60% chance of the ECB hiking rates by 25 basis points in September. “A September hike at this stage could be more of a coin toss, but more importantly, we sense that the hawks will see it as a last chance to hike one final time,” Benjamin Schroeder, a senior rates strategist at ING observed.

Intuit to Lay Off 1,800 Employees and Make New Hires as Part of AI Push

Financial software company Intuit, developer of tax preparation application TurboTax, announced it will lay off 1,800 employees as part of its Artificial Intelligence push....

PepsiCo Stock Dips After Mixed Earnings Report

PepsiCo, the parent company of brands like Pepsi, Lays, and Quakers, shared a mixed earnings report for the second quarter on Thursday. The company’s...

Court Rules That Elon Musk Doesn’t Need to Pay $500 Million in Severance to Fired Twitter Staffers

X (former Twitter) owner and Tesla CEO Elon Musk won’t have to pay out an additional $500 million in severance to Twitter staffers he...