Euro Falls to 20-Year Low as Recession Fears Grow

Investors this week flocked to the US dollar in search of a safe haven, strengthening the greenback to levels not seen since 2002. Meanwhile, the euro slumped to 20-year lows as the latest surge in European gas prices increased recession fears. ...

Slowing of Asian Manufacturing Adds to Global Recession Fears

Asia’s manufacturing slowed markedly in June as many firms suffered supply disruptions because of China’s tough COVID-19 lockdowns. This, in addition to worrying signs of economic downturns in Europe and the US, have analysts fearing a gl...

Iran Currency Falls to Lowest Ever Value Against US Dollar

The Iranian Rial plunged to its lowest value ever this monthת as talks to resuscitate the country’s broken nuclear deal with world powers remained at an impasse. Traders in Tehran exchanged the rial at 332,000 to the US dollar, up from the s...

Euro Gains Traction Ahead of Inflation Data

The euro gained ground on Tuesday as investors steadied themselves for European inflation figures to remain hot this week while they waited on a speech from European Central Bank (ECB) President Christine Lagarde. The euro climbed 0.3% in the week...

High Inflation Drags Consumer Sentiment to Record Lows

Consumer sentiment reached record lows in June as Americans continued to grapple with high prices for such everyday essentials as gas and food. The University of Michigan's Surveys of Consumers Consumer Sentiment Index reached its lowest level...

Swiss Central Bank Hikes Interest Rate by Half a Point

In an unexpected move, Switzerland's central bank announced a half a percentage-point increase to the country’s interest rate on Thursday, the first such move in almost 15 years.  The central bank said the intervention was designed...

Europe Facing Serious Headwinds

Analysts believe the Eurozone is headed for a rough few months, with recession a distinct possibility. Regardless, many agree this should not stop the European Central Bank (ECB) from raising interest rates. The normal playbook in tough times woul...

British Pound Faces Strong Headwinds

Several influential analysts are predicting a major crisis in the value of the UK’s Pound Sterling. It is expected that the British currency will come off badly as it faces such competing forces as its widening current account deficit, a sourin...

Robinhood Shares Nosedive as Company Announces Layoffs

Robinhood announced Tuesday that the online broker will lay off 9% of its staff, causing shares of the company's stock to hit a new low. The company defended its actions by claiming its financial position was strong, but it had too many duplic...

Euro Struggles as Ukraine Conflict Start to Bite

The euro fell to a nearly two-year low against the US dollar as commodity-dependent currencies hit multi-month highs after Russia’s invasion of Ukraine raised oil prices. The euro slid by about 1% to $1.0822, its lowest since May 2020. The c...