Yellen potentially leaving her role at US Treasury after mid-term elections

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Axio with the information:

  • White House officials are quietly preparing for the possible departure of Treasury Secretary Janet Yellen after the midterms.
  • an exit in what could be a broad reorganization of President Biden’s economic team

Did you get a call from Goldman Sachs?

More:

  • The process is in the early stages and a decision on Yellen, or any Cabinet replacement, has not been made. Multiple sources stressed that the outcome of November’s election, including who controls the Senate, will factor into whether she stays.
  • Yellen will also have some say in her fate, and with the world economy faltering, there could be a compelling case for her to stay.

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EUR

The euro (EUR) is the official currency of the European Union (EU) and 19 out of 27 member states at the time of writing. It is the second most traded currency worldwide in forex markets after the US dollar. The euro was originally introduced back on January 1, 1999, replacing the European Currency Unit. Banknotes and physical euro coins later entered circulation only in 2002. After its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value since then and importance in the global market has helped solidify its status as one of the most important currencies in the FX market today. Along with the USD, the currency pair is easily among the most important for forex, given its exposure into the two main economic blocs. What Factors Affect the Euro? There are several factors that affect the Euro. Like most currencies, monetary policy is the most influential, which in this case has to do with the European Central Bank (ECB). The ECB is responsible for regulating monetary policy, money supply, interest rates and the relative strength of the euro. Forex traders of the euro are routinely attuned to any decision or announcements from the ECB because of this. With 19 sovereign member states, the euro is particularly vulnerable to political developments. Recent examples include the debt crisis of Greece and Brexit, among others, which can significantly affect the euro. Finally, economic data from the bloc or from key member states such as Germany, France, Spain, and others are also closely watched. This includes retail sales, jobless claims, Gross Domestic Product (GDP) and others.

The euro (EUR) is the official currency of the European Union (EU) and 19 out of 27 member states at the time of writing. It is the second most traded currency worldwide in forex markets after the US dollar. The euro was originally introduced back on January 1, 1999, replacing the European Currency Unit. Banknotes and physical euro coins later entered circulation only in 2002. After its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value since then and importance in the global market has helped solidify its status as one of the most important currencies in the FX market today. Along with the USD, the currency pair is easily among the most important for forex, given its exposure into the two main economic blocs. What Factors Affect the Euro? There are several factors that affect the Euro. Like most currencies, monetary policy is the most influential, which in this case has to do with the European Central Bank (ECB). The ECB is responsible for regulating monetary policy, money supply, interest rates and the relative strength of the euro. Forex traders of the euro are routinely attuned to any decision or announcements from the ECB because of this. With 19 sovereign member states, the euro is particularly vulnerable to political developments. Recent examples include the debt crisis of Greece and Brexit, among others, which can significantly affect the euro. Finally, economic data from the bloc or from key member states such as Germany, France, Spain, and others are also closely watched. This includes retail sales, jobless claims, Gross Domestic Product (GDP) and others.
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