EUR/USD
1.18423
-0.069%
Gold
4925.03
-1.325%
Oil
62.852
-1.122%
USD/JPY
152.798
-0.466%
GBP/USD
1.35864
-0.314%
GBP/JPY
207.602
-0.765%
Real-time News
February 17th - Swedish Finance Minister Eriksson Svantesson stated that despite the escalating debate over the pros and cons of joining the Eurozone, Sweden will not join in the near future. When asked when the euro might be adopted as a single currency, Svantesson said she did not expect it to happen "in the next few years." Although Sweden is a long-time member of the EU, it has so far refused to join the nearly 30-year-old Eurozone. In a non-binding referendum in 2003, approximately 56% of Swedish voters opposed adopting the euro, a result that has been respected by successive governments. "This is a completely new world, both geopolitically and geoeconomically, so I think its necessary to see whether its in Swedens best interest to join or not join the Eurozone in the future," Svantesson said.The Swiss market index rose slightly to a new record high, gaining 0.4%.The German Chamber of Commerce has raised its forecast for German economic growth from 0.7% to 1.0%.February 17th - The US dollar rose slightly for the second consecutive trading day, completely ignoring market pricing in expectations of approximately three Federal Reserve rate cuts this year. Options markets show that recent bearish sentiment towards the dollar has eased, with the so-called front-end risk reversal indicator falling to its lowest negative level in nearly a month. The currency market still expects the Fed to cut rates by about 64 basis points by the end of the year. Some strategists believe this expectation is excessive, as three rate cuts may exceed the reasonable range supported by data, which would expose the market to the risk of a dollar rebound. Elias Haddad, global head of market strategy at Brown Brothers Harriman, said, "Expectations of Fed rate cuts seem a bit excessive, which provides room for adjustment in the short-term strength of the dollar." He pointed out that economic growth is strong and inflation has remained above the Feds 2% target.February 17th - According to foreign media reports, Indias Adani Group plans to invest $100 billion by 2035 to develop green energy-driven, AI-ready data centers. Adani stated in a document on Tuesday that the investment is expected to generate an additional $150 billion in investment over the next decade for server manufacturing, advanced power infrastructure, and related sectors. Adanis chairman stated, "The world is entering a smart revolution more profound than any previous industrial revolution."
