Fresh triggers could take Nifty to 25,300–25,500: Analysts
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Economic Times
16 minutes ago
- Economic Times
Dollar keeps losing market share but euro is no winner either: ECB study
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The dollar continued to lose market share last year as the world's dominant currency but mostly smaller rivals and gold benefited rather than the euro , which aspires to fill any void left by receding confidence in the greenback, an ECB report have sold off dollar assets since April because of erratic U.S. economic policy and ECB President Christine Lagarde said this was an opportunity for the euro to become the dollar's alternative, provided the 20-nation bloc would finally push ahead with key integration figures predating this most recent turmoil suggest that the euro is not becoming more popular, and besides the Japanese yen, non-traditional currencies may be 2024 alone, the dollar lost 2 percentage points in its share in global foreign exchange holdings and while the euro made small gains, the yen and the Canadian dollar were the big winners, the ECB said on the dollar still has a 58% market share in global foreign exchange reserves , this is down by 10 percentage points in the past decade. Meanwhile, the euro's share has hovered just below 20%.Another big winner last year was gold, with central banks increasing their stock by more than 1,000 tonnes, a record pace and double the annual level seen in the previous decade, the ECB said."Survey data suggest that two-thirds of central banks invested in gold for purposes of diversification, while two-fifths did so as protection against geopolitical risk," the ECB all foreign reserves are added together, gold at 20% accounted for a bigger share than the euro, which stood at 16%, the ECB there have been some signs since April that euro assets may finally be benefiting.U.S. yields have increased but the dollar has weakened sharply against the euro, a highly unusual correlation, which appears to suggest that investors are questioning the dollar's status as the world's premier market moves indicate that investors are demanding a higher risk premium to hold U.S. assets and remain uncertain about debt sustainability given Washington's fiscal has also been a steady stream of U.S. firms issuing debt in euros, often called reverse Yankee Bonds, and the euro did increase its share last year in foreign currency-denominated bond euro zone, however, lacks critical financial infrastructure to take meaningful share from the dollar, economists lacks a truly liquid, large-scale safe asset since debt is issued by each country, leaving the bloc's debt market banking system is also fragmented and the EU lacks a capital market union with harmonised rules and large, cross-border players. Moreover, Europe also lacks military defence capabilities to provide the sort of geopolitical assurance reserve managers demand.
Economic Times
20 minutes ago
- Economic Times
European shares hold steady ahead of US inflation data
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
Business Standard
20 minutes ago
- Business Standard
Power Finance Corporation Ltd up for fifth session
Power Finance Corporation Ltd is quoting at Rs 434.7, up 0.75% on the day as on 12:44 IST on the NSE. The stock is down 11.66% in last one year as compared to a 8.05% spurt in NIFTY and a 20.94% spurt in the Nifty Financial Services. Power Finance Corporation Ltd is up for a fifth straight session in a row. The stock is quoting at Rs 434.7, up 0.75% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.38% on the day, quoting at 25199.55. The Sensex is at 82711.36, up 0.39%. Power Finance Corporation Ltd has risen around 5.01% in last one month. Meanwhile, Nifty Financial Services index of which Power Finance Corporation Ltd is a constituent, has risen around 1.48% in last one month and is currently quoting at 26867.05, up 0.08% on the day. The volume in the stock stood at 26.71 lakh shares today, compared to the daily average of 75.19 lakh shares in last one month. The benchmark June futures contract for the stock is quoting at Rs 433.9, up 0.79% on the day. Power Finance Corporation Ltd is down 11.66% in last one year as compared to a 8.05% spurt in NIFTY and a 20.94% spurt in the Nifty Financial Services index. The PE of the stock is 8.21 based on TTM earnings ending March 25.
