Eurozone

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.

Escalating trade dispute sinks European shares

MILAN/LONDON (Reuters) – European shares sank on Friday as a tariff dispute between the United States and China escalated, triggering a sharp selloff in trade-sensitive commodities stocks. The DAX (German stock index) logo is seen at the stock exchange in Frankfurt, Germany, March 23, 2018. REUTERS/Kai Pfaffenbach Thursday’s European Central Bank meeting had led investors to push back expectations for an interest rate increase, spurring a rally across European stocks. But on Friday U.S. President Donald Trump announced tariffs on…

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Soft patch or lasting slowdown? European data may tell

BRUSSELS (Reuters) – Is Europe’s economy merely encountering a soft spot or entering a more lasting decline? FILE PHOTO: A Hapag Lloyd containership is loaded at the shipping terminal Altenwerder in the harbour of Hamburg, Germany August 15, 2016. REUTERS/Fabian Bimmer/File Photo Bank of England policymakers are likely to debate this question in the week ahead, while data from the euro zone will indicate whether European Central Bank President Mario Draghi is right to refer to current conditions simply as…

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Merkel: ESM euro zone rescue fund should become long-term instrument

BERLIN, June 15 (Reuters) – German Chancellor Angela Merkel said on Friday that she wanted the European Stability Mechanism (ESM), the euro zone’s rescue fund, to be transformed into a long-term instrument. Merkel and French President Emmanuel Macron will chair a meeting of the Franco-German Council of Ministers in Berlin on Tuesday, where they will discuss reforming the European Union. Merkel said she hoped they would “make a little bit of progress” at the meeting, which comes ahead of a…

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Italian 10-year govt bonds set for best week since Sep 2012

LONDON, June 15 (Reuters) – Italy’s benchmark 10-year government bonds are headed for their best week since September 2012 after a benign ECB announcement on rates and positive comments on the euro from anti-establishment politicians in Italy boosted investor sentiment towards the country. The euro zone’s third largest economy saw its 10-year yields drop 10 basis points on Friday and is set for its biggest weekly drop since September 2012, down 47 bps on the week at 2.66 pct. The…

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Eurozone Inflation, Trade Data Due

Final consumer prices and foreign trade from euro area are due on Friday, headlining a light day for the European economic news. At 2.00 am ET, the European Automobile Manufacturers Association is slated to publish passenger car sales data for May. At 4.00 am ET, Italy’s industrial orders data is due for March. Orders had advanced 0.5 percent on month in February. In the meantime, Swiss KOF economic forecast is due. At 5.00 am ET, Eurostat releases euro area consumer…

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FOREX-Euro on track for worst week in 19 months on…

By Reuters Published: 23:40 EDT, 14 June 2018 | Updated: 23:40 EDT, 14 June 2018 By Shinichi Saoshiro TOKYO, June 15 (Reuters) – The euro on Friday was headed for its worst weekly loss in 19 months after a cautious European Central Bank signalled it will keep interest rates at record lows well into next year. Following a closely-watched meeting on Thursday, the ECB said it will end its massive bond purchase scheme by the end of this year, taking…

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CLOSING BELL: TSX, Dow Jones head in opposite directions

Canada’s main stock market and the Dow Jones were on opposite paths today. On Bay Street things were higher as industrial and tech stocks helped propel the TSX. It closed at 16,328, up 63 points. Meanwhile a significant drop off in mortgage loans weighed the loonie down. Tougher lending rules that came into effect on January 1st have led to about a $2 billion decrease in mortgages.In…

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Shares open lower before ECB meeting

Italy : Europe: Shares open lower before ECB meeting Jun 14, 2018 (Euclid Infotech Ltd via COMTEX) — European shares fell on Thursday in cautious trade after the US Fed sounded slightly hawkish overnight and ahead of an ECB meeting in which the central bank will debate the end of its huge asset purchases. All sectors traded in negative territory with basic resources stocks, down 1.3 per cent, leading the fall following weaker data from big metals consumer China. By…

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Dollar soars and Wall Street gains as ECB holds off on rate hikes

The ECB now plans to reduce monthly asset purchases between October and December to 15 billion euros. (Reuters) The US dollar rose more than a penny against a basket of major currencies as the euro cratered, and US stocks closed higher on Thursday, as the European Central Bank signaled interest rate hikes were a long way off.The bank’s unexpectedly dovish decision overshadowed its statement that it aimed to wrap up its crisis-era stimulus program at the end of this year.…

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LIVE MARKETS-Draghi works his magic, but not for banks – Finance News

* European shares turn positive; banks fall * ECB to end bond buys, keep rates steady through next summer * Fed raises rates as expected, signals 2 more rate hikes this year * Unilever says “extremely unlikely” it will stay in FTSE 100 June 14 (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…

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The Latest: Eurozone stimulus program to end after Dec

RIGA, Latvia (AP) — The Latest on the European Central Bank’s monetary policy meeting (all times local): 2:50 p.m. The European Central Bank says it will phase out its bond-buying stimulus program at the end of the year. The program has driven down borrowing costs and supported an economy recovery in the 19 countries that use the euro. The bank said after Thursday’s meeting of its 25-member governing council that the purchases would be reduced to 15 billion euros a…

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Era of Easy Money for Eurozone Nears Its End

The betting was that bank officials would wait and see, because the eurozone economy has lately been sending out distress signals. But the central bankers cannot wait too long. Inflation has been rising toward the bank’s official target of 2 percent. By law, the European Central Bank’s main task is to keep inflation under control. The first step, before raising interest rates, would be to end the bond buying. Either way, Mr. Draghi is likely to give some flavor of…

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FOREX-Euro climbs ahead of ECB meeting, Fed-driven dollar rally unwinds – Finance News

* Euro rises above $1.18; all eyes on ECB QE signals * Fed consensus sees four rate hikes in 2018, three hikes in 2019 * Yuan barely budges after PBOC keeps rates on hold * Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh By Tommy Wilkes LONDON, June 14 (Reuters) – The euro edged back above $1.18 as speculation grows the European Central Bank will signal an end date for its vast stimulus programme at its policy meeting on Thursday and…

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Tech Outlook – Gold market under long liquidation; Support seen at 31105

Long liquidation seen in MCX Cotton Short covering seen in MCX Cardamom NCDEX Jeera may trade between 16215-16785 levels NCDEX Turmeric under short covering Mustard Seed market under fresh buying; Support seen at 3937 Technically Gold market is under long liquidation as market has witnessed drop in open interest by 1.92% to settled at 6015. Now MCX Gold is getting support at 31105 and below same could see a test of 31066 levels and resistance is now likely to be…

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Gold slips as Fed signals two more rate raises

By Reuters Published: 21:10 EDT, 13 June 2018 | Updated: 21:10 EDT, 13 June 2018 BENGALURU, June 14 (Reuters) – Gold prices inched lower on Thursday as the Federal Reserve forecast two more U.S. rate increases this year after raising rates on Wednesday, although lingering worries over trade tensions between Washington and Beijing prevented steeper losses. FUNDAMENTALS * Spot gold was down 0.1 percent to $1,298.61 per ounce at 0047 GMT. It touched an over one-week low at $1,292.15 an…

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