EuroZone

Welcome to our EuroZone Blogs Section.

The collective group of countries which use the Euro as their common currency. The Eurozone came into being in 1999, and originally consisted of 11 countries. Now 17 countries are members of the Eurozone. The Eurozone does not include every country in the European Union (some countries are not yet using the Euro), and does not include every country who is using the Euro (to become part of the Eurozone, the country must use the Euro as its sole legal currency). As a currency union, monetary rules are created and maintained by the European Central Bank.

This term refers to the economic area, also known as Euroland, comprising the 17 countries that have adopted the euro.
The 17 countries are Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, Netherlands, Portugal,Slovakia, Slovenia and Spain.

Below is the latest news and information blogs about EuroZone.

EUR/USD – Lack of eurozone data leaves euro yawning

EUR/USD is steady in the Thursday session, after recording considerable losses on Wednesday. Currently, the pair is trading at 1.1523, up 0.20% on the day. On the release front, there are no major eurozone indicators. German WPI gained 0.4%, matching the estimate. This was the strongest gain in three months. In Brussels, EU leaders are meeting for a second day. In the U.S, Philly Fed Manufacturing Index is expected to dip to 19.4 points, while unemployment claims are forecast to drop…

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Fed minutes, supply push up euro zone bond yields

Fed minutes, supply push up euro zone bond yields By Reuters Published: 03:28 EDT, 18 October 2018 | Updated: 03:28 EDT, 18 October 2018 By Dhara Ranasinghe LONDON, Oct 18 (Reuters) – Government bond yields across the euro area rose on Thursday, pushed up by hints of more rate hikes from the U.S. Federal Reserve and in anticipation of a wave of fresh supply from France, Spain and Italy. Indeed, the bond sell off was led by Italy with the…

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Italy’s PM Conte sees no room to change 2019 budget plan

Italian Prime Minister Giuseppe Conte said on Wednesday he believed there was no room for changing the Italian draft budget for 2019, which the European Union worries would breach the bloc’s fiscal rules and increase Italy’s debt. “We have prepared (the budget) very carefully. Therefore I think there is no room for change,” Conte told reporters on arriving to talks with his fellow EU leaders in Brussels. “I am confident we can have a constructive dialogue,” he said, referring to…

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EU right to criticise Italy’s budget – ECB’s Weidmann

EU right to criticise Italy’s budget – ECB’s Weidmann By Reuters Published: 13:03 EDT, 17 October 2018 | Updated: 13:03 EDT, 17 October 2018 FRANKFURT, Oct 17 (Reuters) – The European Commission is right to be critical of Italy’s budget proposal, Bundesbank President Jens Weidmann said on Wednesday, adding that Rome must obey its fiscal commitments. Taking the unusual step of commenting on another euro zone member’s domestic politics, Weidmann argued that monetary policy normalisation will place an increasing burden…

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Dollar Little Changed After US Industrial Production Data

The dollar was mired near a three-week low on Tuesday thanks to tepid U.S. data overnight, though broadly firmer U.S. Treasury yields prevented a sell-off. The data, showing U.S. retail sales barely rose in September, was a rare blemish in a run of economic indicators which this month pushed 10-year U.S. Treasury yields to their highest levels for more than seven years above 3.22 percent. U.S. industrial output data is due later today. “We are seeing a cautious retreat in…

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Italy and its populist budget — MercoPress

Another headache for the EU: Italy and its populist budget Wednesday, October 17th 2018 – 08:52 UTC The budget proposes increases both Italy’s overall government debt and its deficit pushing it as high as 2.4% of GDP. Mandated maximum deficit is 0.8% of GDP “The budget keeps government’s promises while keeping public accounts in order,” said PM Giuseppe Conte. “Italy is a founding EU member and net contributor” Italy’s government on Tuesday pushed the country closer to a showdown with…

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LIVE MARKETS-Opening snapshot: Tech shines as European stocks climb, Fresenius Medi sinks – Internet News

* Wall Street bounce lifts European shares * Tech leads gains, up 2.7 pct * Strong ASML results lift chipmakers AMS, STMicro * Fresenius Medi sinks after targets cut * UK and European CPI in focus, ahead of Fed minutes Oct 17 (Reuters) – Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market moves: danilo.masoni.thomsonreuters.com@reuters.net…

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GRAINS-Soybean prices extend losses as US harvest pace…

GRAINS-Soybean prices extend losses as US harvest pace expected to pick up By Reuters Published: 21:13 EDT, 16 October 2018 | Updated: 21:13 EDT, 16 October 2018 SYDNEY, Oct 17 (Reuters) – U.S. soybean futures fell for a second session on Wednesday as forecasts of dry weather in parts of the United States indicated farmers there would be able to pick up the pace of harvesting. FUNDAMENTALS * The most active soybean futures on the Chicago Board of Trade were…

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LIVE MARKETS-Closing snapshot: seasonal optimism – UK Money News

* European shares rise, Italy up 1.8 pct * Results lift Meggitt, hurt Merlin * Kion jumps on UBS upgrade * Wall Street rebounds as strong bank results help Oct 16 (Reuters) – Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market moves: danilo.masoni.thomsonreuters.com@reuters.net CLOSING SNAPSHOT: SEASONAL OPTIMISM (1630 GMT) Optimism for the Q3 earnings…

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LIVE MARKETS-Pound up + FTSE up = Good wage data + Brexit complacency? – UK Money News

* European shares rise, Italy up 1.8 pct * Results lift Meggitt, hurt Merlin * Kion jumps on UBS upgrade * Wall Street rebounds as strong bank results help Oct 16 (Reuters) – Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market moves: danilo.masoni.thomsonreuters.com@reuters.net POUND UP + FTSE UP = GOOD WAGE DATA + BREXIT…

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UPDATE 2-Hungarian central bank keeps rates on hold, despite rising inflation

(Adds central bank comments, updates forint) * Base rate, overnight deposit rate remain at record lows * Sept inflation rose to highest since January 2013 * Bank says it is prepared for future policy normalisation * Some market players question sustainability of loose policy By Gergely Szakacs and Krisztina Than BUDAPEST, Oct 16 (Reuters) – Hungary’s central bank (NBH) kept its key interest rates on hold at record lows on Tuesday in the face of market concerns about rising inflation…

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ECB’s Draghi to appear before Oireachtas committee next month

European Central Bank (ECB) Mario Draghi has accepted an invitation to appear before the Oireachtas Committee on Finance, Public Expenditure and Reform to discuss the banking sector. The tracker mortgage controversy is also expected to be raised with Mr Draghi when he appears before TDs and senators on November 8th next. Frankfurt’s most senior official has already appeared before other European parliaments including in Germany, France, Spain, Italy, and Finland. Committee chairman John McGuinness published Mr Draghi’s acceptance letter on…

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Factbox: France’s Emmanuel Macron reshuffles government – only one big move – World

PARIS (Reuters) – French President Emmanuel Macron, whose government has been shaken by a spate of resignations and whose popularity has fallen in the polls, reshuffled his cabinet on Tuesday, moving a close ally into the Interior Ministry. Most of the other moves were in less high-profile positions, including a new agriculture minister and culture minister. Below our profiles of some of the major ministerial posts after the reshuffle: PRIME MINISTER EDOUARD PHILIPPE, 47 Philippe retains his job as prime…

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EU ‘needs another crisis’ to finish banking union

European political leaders need another financial crisis to frighten them into completing a banking union, a senior EU official said on Monday. He said key issues such as a euro zone deposit insurance scheme and finalising a multibillion-euro backstop to resolve failing lenders remain outstanding. “I have the impression that [EU member states] have the false impression that everything’s fine, but everything’s not fine and the job is half done,” Olivier Guersent, director general for financial stability, financial services and…

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GRAINS-Soybean prices ease after 3-day rally, wheat at…

GRAINS-Soybean prices ease after 3-day rally, wheat at 2-wk high By Reuters Published: 22:22 EDT, 15 October 2018 | Updated: 22:22 EDT, 15 October 2018 Oct 16 (Reuters) – Chicago soybean prices edged down on Tuesday, taking a breather after three sessions of gains as rains in parts of the U.S. Midwest slowed the pace of harvest and raised concerns over crop quality. Wheat rose, trading near its highest in almost two weeks as prices were underpinned by tightening global…

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