“In the short term, I think it’s really quite simple that the dollar has been used as a safe haven,” says Jane Foley, head of FX strategy at Rabobank, as she examines the global FX market amid the war in Iran. (Source: Bloomberg)
“In the short term, I think it’s really quite simple that the dollar has been used as a safe haven,” says Jane Foley, head of FX strategy at Rabobank, as she examines the global FX market amid the war in Iran. (Source: Bloomberg)
(RTTNews) - French stocks are mostly subdued on Monday with investors refraining from making significant moves amid concerns about the impact of the ongoing conflict in the Middle East on global economic growth and central banks' monetary policy moves.
(RTTNews) - French stocks are mostly subdued on Monday with investors refraining from making significant moves amid concerns about the impact of the ongoing conflict in the Middle East on global economic growth and central banks' monetary policy moves.
The euro is heading for its worst quarter since 2024 as war in the Middle East underscores Europe’s dependency on energy imports and rattles the region’s economic outlook. The common currency is down about 2% this quarter at around $1.15 and has lost 2.5% against the dollar in March, the most since July. It’s a sharp reversal from late January, when it punched past $1.20 to the strongest level in ...
The euro is heading for its worst quarter since 2024 as war in the Middle East underscores Europe’s dependency on energy imports and rattles the region’s economic outlook. The common currency is down about 2% this quarter at around $1.15 and has lost 2.5% against the dollar in March, the most since July. It’s a sharp reversal from late January, when it punched past $1.20 to the strongest level in nearly five years. In the short term, Morgan Stanley strategists led by David Adams see the euro falling as low as $1.13. With oil topping $115 a barrel and Iran keeping the Strait of Hormuz largely closed, currency traders are looking to their 2022 playbook, when Russia’s invasion of Ukraine hammered European markets and boosted the dollar. While the US benefits from its status as a major oil producer, the European Central Bank is once again facing energy-driven inflation and weakening economic activity. Money markets now price three interest-rate hikes this year, a stark shift from the 35% probability of a cut embedded just weeks ago. At the same time, optimism over Germany’s fiscal pivot and defense-spending push has faded, the OECD has cut growth forecasts, and Germany and Italy are weighing downgrades to their official projections. German Inflation Headed for Highest in More Than Year on Energy While higher rates typically support a currency when the economy is strong, that’s not the case with the Middle East turmoil causing supply constraints. As Gulf nations invest less abroad amid the crisis, tighter global financial conditions will hit growth-sensitive currencies like the euro hardest, ING said Options contracts suggest deeper damage than the year-end $1.20 forecast by analysts in a Bloomberg survey . In a matter of weeks, the market has gone from pricing a long-term bullish outlook for the euro to one of fragility. Demand for protection against euro weakness hit a four-year extreme earlier this month. Longer-dated metrics show that traders who were consistently pa...
karelnoppe/iStock via Getty Images Rocket Lab ( RKLB ) successfully completed its first dedicated mission for the European Space Agency (ESA), underscoring the growing role of its Electron rocket in providing commercial launch services for government space programs. The mission, dubbed “Daughter Of The Stars,” lifted off from Launch Complex 1 in New Zealand on March 28 at 10:14 p.m. NZT, deploying...
karelnoppe/iStock via Getty Images Rocket Lab ( RKLB ) successfully completed its first dedicated mission for the European Space Agency (ESA), underscoring the growing role of its Electron rocket in providing commercial launch services for government space programs. The mission, dubbed “Daughter Of The Stars,” lifted off from Launch Complex 1 in New Zealand on March 28 at 10:14 p.m. NZT, deploying ESA’s “Celeste” payload to low Earth orbit at an altitude of 510 km. The flight marked Rocket Lab’s sixth launch of 2026 and its 85th overall. The company has a full pipeline ahead, with upcoming missions spanning commercial Earth observation, government and defense payloads, and hypersonic technology development. The latest launch carried the first two satellites for a navigation demonstration program aimed at enhancing Europe’s positioning capabilities. Celeste will test how a constellation in low Earth orbit can complement the Galileo constellation in medium Earth orbit, which underpins Europe’s own global navigation system. Built by two consortia led by GMV (Spain) and Thales Alenia Space (France), the pair of ESA spacecraft will test next-generation technologies for a broad variety of future uses in autonomous vehicles, maritime navigation, wireless networks, emergency services, and critical infrastructure projects across Europe. RKLB shares rose +1.3% premarket to $61.75. More on Rocket Lab USA What Will Happen To Rocket Lab After SpaceX's IPO Rocket Lab: This $1B Capital Raise Is More Bullish Than You Think Rocket Lab: Waiting Is Hard Biggest stock movers Monday: ORGN, RKLB, and more SA Asks: What's the most attractive space stock right now?
Morgan Hancock/Getty Images News The Australian government will halve the fuel excise on petrol and diesel as well as scrap the heavy vehicle road user charge for three months to help ease the impact of soaring fuel prices on consumers. The excise halving, which will start from April 1 to June 30, will reduce the cost of fuel by 26.3 Australian cents per liter. The government will also defer the n...
Morgan Hancock/Getty Images News The Australian government will halve the fuel excise on petrol and diesel as well as scrap the heavy vehicle road user charge for three months to help ease the impact of soaring fuel prices on consumers. The excise halving, which will start from April 1 to June 30, will reduce the cost of fuel by 26.3 Australian cents per liter. The government will also defer the next scheduled increase in the heavy vehicle road user charge by six months. "We're acting now to be overprepared," Australian Prime Minister Anthony Albanese said. "To prepare and to shield Australians from the worst of the impacts." "The cost of what we are announcing today is A$2.55B, depending of course on the amount of demand in the system over that three-month period," said Treasurer Jim Chalmers. "And the revenue foregone by delaying the increase in the heavy vehicle road user charge is about another A$53M." Albanese also called on Australians to take public transport "to help save fuel for the areas and industries that need it." The Australian government adopted several measures to secure fuel supply, including the release of 20% of its petrol and diesel reserves, changing fuel quality standards, and introducing legislation to underwrite the purchase of fuel by the private sector. Two Australian states will offer free public transport – Victoria said free service can be availed throughout April while Tasmania is offering the perk until the end of June. More on Australia EWA: Australian Financials May Struggle With A Flattening Yield Curve IAF: AUD Bets Look Interesting, But Select Picks Better Australia’s biggest LNG plants hit with outages from cyclone EU and Australia strike free trade deal, including critical mineral access