German Economy – WBTS Forum http://wbts-forum.org// Mon, 26 Apr 2021 08:03:43 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.1 http://wbts-forum.org//wp-content/uploads/2021/04/default1.png German Economy – WBTS Forum http://wbts-forum.org// 32 32 GBPEUR could see the pressure after Friday’s collapse http://wbts-forum.org//gbpeur-could-see-the-pressure-after-fridays-collapse/ http://wbts-forum.org//gbpeur-could-see-the-pressure-after-fridays-collapse/#respond Mon, 26 Apr 2021 07:44:08 +0000 http://wbts-forum.org//gbpeur-could-see-the-pressure-after-fridays-collapse/ The GBPEUR exchange rate fell back below the 1.15 level on Friday to mark the fourth consecutive day of losses for the pound sterling. Highs near 1.1650 have been dropped and the British pound may come under further pressure this week after a second failure at these levels. GBP / EUR is trading at 1.1475 […]]]>


The GBPEUR exchange rate fell back below the 1.15 level on Friday to mark the fourth consecutive day of losses for the pound sterling. Highs near 1.1650 have been dropped and the British pound may come under further pressure this week after a second failure at these levels.

GBP / EUR is trading at 1.1475 early in the day for a slight gain of 0.05%. Germany released key economic data this week, while the eurozone will see its first estimate of GDP in the first quarter.

German and euro data to guide the week

Pound-to-Euro traders may have to wait until the middle of the week for a clear direction on the pair as the German economy sees consumer confidence ease. These numbers are analyzed in the context of lockdowns and case rates, so they’re not really driving the market, but any deviation will matter. That day will also see an interest rate decision from the US Federal Reserve and there is the potential for volatility in the market in general. Canada made a surprise move to gradually reduce its bond purchases last week, which could see markets move if the Fed signals something similar. This would put pressure on the ECB and BoE as they move towards reopening their own economies.

Thursday will be a big day for the GBP / EUR exchange rate with employment and inflation figures in Germany. Analysts expect inflation to rise 0.1%, while the job market is expected to post a labor loss of 2k due to ongoing lockdowns.

Friday is another big day for the single currency with flash estimates of GDP for the first quarter from Germany, Italy and the eurozone. This will be the main driver of sterling and euro rates over the medium term, as it will show whether the eurozone is on track to match growth estimates in a slow move toward reopening their economies. Core inflation for Europe will also be released on that day, but it is expected to remain stable.

American travelers return to Europe

American tourists who have been fully vaccinated against the coronavirus will be allowed to travel to the European Union this summer, according to the New York Times.

US travelers have been barred from non-essential travel to the EU for a year due to the pandemic. Many European countries see millions of American tourists every year and the current leak is hurting the tourism industry and employment levels. The United States has seen a strong deployment of vaccines and it is becoming clear that a two-tier system is emerging, with only the vaccinated being allowed to travel overseas to Western countries.

The EU’s vaccination program will have enough doses to cover 70% of adults by the end of July, according to European Commission chief Ursula von der Leyen. This is an improvement over the target of the previous September.

The GBPEUR could dip to the 1.14 test this week with higher support levels at 1.1280 which was a key level in the pound’s upside 2020 move.



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Eurozone bond yields rise as global sentiment improves http://wbts-forum.org//eurozone-bond-yields-rise-as-global-sentiment-improves/ http://wbts-forum.org//eurozone-bond-yields-rise-as-global-sentiment-improves/#respond Mon, 26 Apr 2021 07:10:38 +0000 http://wbts-forum.org//eurozone-bond-yields-rise-as-global-sentiment-improves/

Band Dhara Ranasinghe

LONDON, April 26 (Reuters)Eurozone bond yields edged up on Monday, reflecting stronger sentiment in global markets and a growing sense that the worst could be behind for an economy hit by coronaviruses.

Most 10-year bond yields in the currency bloc rose 1 to 2 basis points on the day, while yields on US Treasuries were also slightly higher.

As bond markets stabilized after a U.S.-led liquidation earlier this year, improving economic indicators and a resumption of the COVID-19 vaccination rollout have started to put some pressure on the increase in borrowing costs in the euro zone.

The past few weeks have seen an acceleration in European vaccinations, with major countries in the European Union rolling out vaccines at a rate similar to Britain. The EU is expected to meet its goal of vaccinating 70% of adults by the summer, according to NatWest Markets.

The 10-year German Bund yield was last up 2 basis points to -0.24% DE10YT = RR, not far from the seven-week highs reached last week. 30-year bond yields, at 0.31% DE30YT = RR, were near the highs of more than a year affected last week.

Andreas Billmeier, European economist Western Asset, said the uptrend in European bond yields should be gradual and fit into the bigger picture of a recovering economy.

“If you remove the momentum from US rates, you have an economic recovery and that should go hand in hand with higher rates.”

“Note that the ECB (European Central Bank) did not make a noise when yields rose between December and February, but only after volatility from the United States kicked in.”

The ECB stepped up the pace of its bond purchases in March to contain rising borrowing costs, driven by US Treasuries.

Italy, which reached an agreement with the European Commission on its stimulus package after days of intense discussions, paved the way for its submission to Brussels by the end of April.

“The positivity of the good allocation of European funds” has not yet fully fueled the BTP / Bund spread, and there is still room for significant tightening there, “Mizuho said in a note.

The Italian / German 10-year yield spread was 103 basis points DE10IT10YT = RR

On Friday evening, S&P raised Greece’s rating up a notch to ‘BB’, citing hopes of a rapid improvement in the country’s economic and fiscal performance as the adverse effects of the COVID-19 pandemic ‘attenuate. L4N2MG3SF

The yield on Greek 10-year bonds rose around 1bp to 0.90% GR10YT = RR in line with euro area peers.

(Reporting by Dhara Ranasinghe; Editing by Kirsten Donovan)

((Dhara.Ranasinghe@thomsonreuters.com; +442075422684;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



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Germany to send oxygen and medical aid to India http://wbts-forum.org//germany-to-send-oxygen-and-medical-aid-to-india/ http://wbts-forum.org//germany-to-send-oxygen-and-medical-aid-to-india/#respond Mon, 26 Apr 2021 03:19:00 +0000 http://wbts-forum.org//germany-to-send-oxygen-and-medical-aid-to-india/ German Foreign Minister Heiko Maas says Germany will do everything possible to help India overcome emergency Reuters | April 26, 2021 | Updated 08:52 IST Germany will send oxygen and medical aid to India in the coming days to help it tackle the Covid-19 crisis, Foreign Minister Heiko Maas said on Monday. “The second wave […]]]>


German Foreign Minister Heiko Maas says Germany will do everything possible to help India overcome emergency

Reuters | April 26, 2021 | Updated 08:52 IST

Germany will send oxygen and medical aid to India in the coming days to help it tackle the Covid-19 crisis, Foreign Minister Heiko Maas said on Monday. “The second wave is currently rolling over India with unprecedented power. It was right that we act quickly to stop the entry of the new mutation into Germany,” Maas told the Rheinische Post newspaper.

Germany has classified India as a high coronavirus incidence area and also put the country on a separate warning list for coronavirus variants. From Monday, Germans arriving from India will only be allowed to enter the country with a negative test result and will then have to start a 14-day quarantine. Foreign travelers from India will no longer be allowed to enter Germany.

Mass said Germany will do everything possible to help India overcome the emergency. A spokeswoman for the German Defense Ministry said the Foreign Ministry has asked the military to consider providing a mobile oxygen production facility as well as supporting the transport of other emergency supplies. and relief in India.

German Chancellor Angela Merkel on Sunday expressed “sympathy for the terrible suffering” that the pandemic had brought to India. “Germany stands in solidarity with India and is urgently preparing a support mission,” Merkel said in a statement.

The European Commission has also announced plans to send oxygen and medicine to India after receiving a request from Delhi. Britain and the United States are also sending assistance, including medical supplies.

Also Read: US Must Send Covishield Raw Materials and Medical Supplies ‘Immediately’

Also Read: United States Vice President Kamala Harris Prez Joe Biden Assures India Of Support Amid COVID-19 Crisis





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Accelerating the energy transition would benefit Panama’s environment and economy http://wbts-forum.org//accelerating-the-energy-transition-would-benefit-panamas-environment-and-economy/ http://wbts-forum.org//accelerating-the-energy-transition-would-benefit-panamas-environment-and-economy/#respond Mon, 26 Apr 2021 02:45:32 +0000 http://wbts-forum.org//accelerating-the-energy-transition-would-benefit-panamas-environment-and-economy/ The real estate industry must transform to meet the needs of people and cities over the next decade, according to a new report released today by the World Economic Forum. COVID-19 has exposed vulnerabilities across the real estate sector, ranging from indoor air quality issues to oversupply and accelerated underlying demand factors, which must be […]]]>


The real estate industry must transform to meet the needs of people and cities over the next decade, according to a new report released today by the World Economic Forum. COVID-19 has exposed vulnerabilities across the real estate sector, ranging from indoor air quality issues to oversupply and accelerated underlying demand factors, which must be addressed for buildings and cities to be addressed. be healthier, more prosperous and more sustainable.

The World Economic Forum’s new report, “A Framework for the Future of Real Estate,” serves as a roadmap for industry change. Developed with the CEOs of Global Real Estate, the framework provides a pathway for transforming buildings and cities to become livable, sustainable, resilient and affordable.

“Real estate stands at a crossroads as cities adapt to the new realities of the post-COVID era, climate change and the Fourth Industrial Revolution,” said Jeff Merritt, Head of IoT and Urban Transformation at the World Economic Forum. “This real estate transformation – and the market disruption that comes with it – is long overdue, but if fully embraced, it promises to help us all live healthier, happier and more connected lives.

“Today, the real estate industry faces challenges and therefore has the opportunity to do better, take more action for a healthier future and have a lasting impact globally,” says Coen van Oostrom, Founder and Managing Director, EDGE, OVG Real Estate. “To optimize buildings, we must not only rethink spaces, user behavior and energy efficiency, but also put more emphasis on redevelopment opportunities, the circular economy and digitization. Let’s stop waiting for others to lead by example and start today, making a daily commitment to making incremental change. Ultimately, we need to keep an eye on the bigger picture to be the leaders in the transition to a more sustainable way of operating. “

For more than a decade, the real estate sector has experienced exceptional profitability with successful growth rates and increasing investment volumes with compound annual growth rates of + 14%. This success initially put less pressure on industry leaders to innovate, but now the industry is under pressure from consumers, investors and regulators to better serve health and resilience. of their communities. At the same time, the lasting effects of the pandemic and the acceleration of existing trends have brought the industry to a tipping point.

“The pandemic has accelerated the changes in work and lifestyles that have already accelerated in recent years, thanks in large part to new technologies,” said Christian Ulbrich, global managing director and president of JLL. “As we anticipate a sustainable global post-pandemic recovery, this framework from the World Economic Forum shows how our industry has a vital role to play in coming together to shape the future of real estate for a better world.”

The Future of Real Estate Framework identifies key catalysts that real estate leaders can use to ensure they are working across the industry to deliver real estate options that are livable, sustainable, resilient and affordable.

Key factors

  • Accelerate digitization and innovation to sort everything from construction costs to the occupant experience
  • Value-tested business cases that are transparent and demonstrate a clear return on investment in technology, sustainability and affordable housing
  • Prioritize talent and knowledge by improving the skills of existing workers and attracting talent dedicated to innovation areas while ensuring diversity and inclusion
  • Involve stakeholders, throughout the industry value chain and within the local community, to ensure that projects are mutually beneficial
  • Ensure regulatory frameworks effectively address procurement challenges, sustainability goals and provide appropriate zoning and density

The framework also includes case studies from various real estate companies and illustrates the vision of the four key pillars of livable, sustainable, resilient and affordable buildings and cities.

Industry action

Industry leaders have already taken decisive steps to transform the entire real estate industry. Gensler’s GC3 commitment aims to achieve net zero by 2030 across all Gensler projects and JLL’s work with the Washington Metro will provide clean energy to more than 1,500 homes.

Swire Properties has joined the Business Ambition for 1.5 ° C campaign and Lendlease is committed to leveraging digitization to become net zero carbon by 2025 and absolute zero carbon by 2040.

Majid Al Futtaim became the first and only conglomerate in the world to achieve LEED Platinum certification for its entire hotel portfolio.

Signify has embraced sustainability and resilience by developing and deploying UV-C disinfection systems, an energy-efficient and chemical-free way to disinfect buildings.

Schneider Electric has set clear and measurable 2025 objectives around sustainable development to achieve 80% green revenues, deliver 800 million tonnes of saved and avoided emissions to their customers and ensure that 1,000 of their main suppliers reduce emissions. emissions of 50% of their operations.

Lessons learned from the initiatives of these companies and many others have been used to help develop the framework for the future of real estate that aims to accelerate these types of transformations in the industry.



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FOREX-Dollar Holds Low Bias On Expectations Powell Will Avoid Reduction http://wbts-forum.org//forex-dollar-holds-low-bias-on-expectations-powell-will-avoid-reduction/ http://wbts-forum.org//forex-dollar-holds-low-bias-on-expectations-powell-will-avoid-reduction/#respond Mon, 26 Apr 2021 00:55:00 +0000 http://wbts-forum.org//forex-dollar-holds-low-bias-on-expectations-powell-will-avoid-reduction/ * Graphic: World FX rates tmsnrt.rs/2RBWI5E * Focus is on Fed meeting ending Wednesday * Treasury yields and dollar likely to fall on Fed stance * Euro bid on improving economic data * Turkish lira at risk of testing all-time low By Stanley White TOKYO, April 26 (Reuters) - The dollar nursed losses against most […]]]>


    * Graphic: World FX rates tmsnrt.rs/2RBWI5E
    * Focus is on Fed meeting ending Wednesday
    * Treasury yields and dollar likely to fall on Fed stance
    * Euro bid on improving economic data
    * Turkish lira at risk of testing all-time low 

    By Stanley White
    TOKYO, April 26 (Reuters) - The dollar nursed losses against
most currencies on Monday amid speculation that U.S. Federal
Reserve Chairman Jerome Powell will shun talk of tapering bond
purchases at a policy meeting this week.
    The euro rose to a near two-month high against the greenback
before data later on Monday forecast to show an improvement in
German business sentiment, which would bolster hopes for a
brighter economic outlook. 
    Powell is likely to face questions over whether an improving
labour market and rising coronavirus vaccinations warrant a
withdrawal of monetary easing, but most analysts expect him to
say such talk is premature, which would put downward pressure on
Treasury yields and the dollar.  
    "The dollar is likely to continue to trend lower in line
with the gathering momentum in the world economy," analysts at
Commonwealth Bank of Australia wrote in a research note.
    "We expect the Fed policy meeting to be a non-event for the
dollar. The U.S. economy is a long way from meeting the
'substantial further progress' threshold for the Fed to taper
its asset purchases."
    The dollar stood at 107.88 yen, close to its lowest
since March 4.
    The euro rose to $1.2105, adding to gains made on
Friday after positive data on European services and
manufacturing activity.
    A survey from Germany's Ifo institute due later on Monday is
expected to show business conditions continued to improve in
Europe's largest economy. 
    The British pound was quoted at $1.3876 following a
0.3% gain in the previous session.
    The dollar was little changed at 0.9136 Swiss franc
, close to a two-month low.
    The Fed's next meeting ends on Wednesday, and while no major
policy changes are expected, investors will pay close attention
to Powell's comments after the meeting.
    Rising coronavirus vaccination rates and an improving
economic outlook are reasons to be optimistic, but many traders
and analysts say Powell is likely to reiterate his commitment to
keep easy policy in place for an extended period.
    U.S. funds have been selling the dollar against the yen
recently in Asian trading, which is an additional sign that
major investors expect lower U.S. Treasury yields to push the
dollar lower, some traders in Tokyo said.
    Speculators' net bearish bets on the dollar have risen to a
three-week high, according to calculations by Reuters and U.S.
Commodity Futures Trading Commission data, also pointing to
further declines for the greenback.
    In emerging markets, traders are watching the Turkish lira
 to see if it will test its all-time low of 8.58 per
dollar due to worsening relations with the United States and
worries about a dovish central bank governor. The lira was last
quoted at 8.4325.
    Elsewhere, the Australian and New Zealand dollars
 traded near one-month highs but are likely to track
moves in global commodity prices, traders said.
    In the cryptocurrency market, Bitcoin reclaimed
the $50,000 mark and smaller rival Ether rose,
recouping some of their losses from last week triggered by U.S.
President Joe Biden's plan to raise capital gains taxes for
wealthy investors.
    
    ========================================================
    Currency bid prices at 0027 GMT
 Description      RIC         Last           U.S. Close  Pct Change     YTD Pct     High Bid    Low Bid
                                              Previous                   Change                 
                                              Session                                           
 Euro/Dollar                  $1.2096        $1.2097     +0.00%         -0.99%      +1.2097     +1.2089
 Dollar/Yen                   107.8800       107.8800    +0.01%         +4.45%      +107.9350   +107.8600
 Euro/Yen         <EURJPY=EB  130.51         130.46      +0.04%         +2.81%      +130.5600   +130.3800
                  S>                                                                            
 Dollar/Swiss                 0.9136         0.9137      -0.03%         +3.24%      +0.9140     +0.9134
 Sterling/Dollar              1.3876         1.3881      -0.05%         +1.55%      +1.3879     +1.3872
 Dollar/Canadian              1.2469         1.2475      -0.03%         -2.07%      +1.2490     +1.2471
 Aussie/Dollar                0.7752         0.7746      +0.08%         +0.77%      +0.7753     +0.7735
 NZ                           0.7197         0.7195      +0.03%         +0.22%      +0.7199     +0.7191
 Dollar/Dollar All spots
Tokyo spots
Europe spots 
Volatilities 
Tokyo Forex market info from BOJ

    
 (Reporting by Stanley White; editing by Richard Pullin)
  



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Why China and the EU should jointly resist the US decoupling push http://wbts-forum.org//why-china-and-the-eu-should-jointly-resist-the-us-decoupling-push/ http://wbts-forum.org//why-china-and-the-eu-should-jointly-resist-the-us-decoupling-push/#respond Sun, 25 Apr 2021 18:00:00 +0000 http://wbts-forum.org//why-china-and-the-eu-should-jointly-resist-the-us-decoupling-push/ Chinese State Councilor and Foreign Minister Wang Yi had a virtual meeting with German Foreign Minister Heiko Maas on Wednesday and they reached consensus on opposition to economic decoupling. Wang said major economies like China and Germany should jointly resist decoupling, and Maas noted that decoupling is not in the interests of either party, according […]]]>


Chinese State Councilor and Foreign Minister Wang Yi had a virtual meeting with German Foreign Minister Heiko Maas on Wednesday and they reached consensus on opposition to economic decoupling. Wang said major economies like China and Germany should jointly resist decoupling, and Maas noted that decoupling is not in the interests of either party, according to a statement from China’s Foreign Ministry.

As the United States tries to coerce its allies to disassociate itself from China, the German Foreign Minister’s comment on decoupling reflects the true view of European countries on the political maneuver of the United States to preserve its hegemony. European countries are not expected to simply follow the lead of the United States in cracking down on China to the detriment of their own interests.

Germany and other European countries are fully aware that the United States’ decoupling campaign is against market principles and economic laws. From the unilateralism of the Trump administration to the small clique of the Biden administration, US-centric approaches are primarily aimed at serving the economic and political interests of the United States, which undermines the development interests of the United States. Most countries of the world, including the American allies.

As major manufacturing and trading powers, Germany and China have common interests in maintaining stable global industrial and supply chains. China and Germany maintain close and mutually beneficial cooperation in the automotive and other sectors. The large Chinese market is of great importance to the German auto industry, and the two sides still have broad prospects for cooperation in electric vehicles and related fields.

The attempt to restructure the industrial chain pushed by the United States serves only the interests of American companies. In addition, Germany and the United States still have friction over issues such as tariffs. The United States even threatened to impose sanctions against Germany on the Nord Stream 2 gas pipeline connecting Russia to Germany.

Of course, China and the EU also have a complicated relationship with competition and cooperation. Bilateral relations have indeed faced a challenge after the EU imposed sanctions on China over allegations of “forced labor” concerning the Xinjiang Uyghur Autonomous Region in northwest China.

But at this critical juncture, the EU should avoid being hijacked by the US-led small clique and imposing arbitrary unilateral sanctions based on false information. Instead, China and the EU should bridge their differences and promote economic and trade cooperation to help the global post-COVID recovery.

As the Chinese and German foreign ministers noted during their meeting, China and the EU should continue to cooperate in areas such as trade, investment, health, clean energy, digital economy and 5G technology.

Most importantly, China and the EU should promote vaccine cooperation. China and the EU share a common ground on this issue, both supporting expanding accessibility and supplying vaccines as a global public good. In particular, it was reported that the European Medicines Agency was considering including vaccines from China and Russia in its procurement system.

Regarding the issue of the industrial chain, the EU is very clear that the manufacturing sectors of some Member States are already lagging behind and that it is not realistic to bring the industrial chain completely back to the EU. Therefore, the EU places more emphasis on the globalization of the industrial chain. On this issue, Europe and the United States have different positions. The EU supports multilateralism, and China and Europe both insist on the stability of the global supply chain.

The blatant decoupling approach of anti-Chinese US politicians undermines global industrial and value chains and harms the interests of all parties. In terms of historical experience, this strategy of pan-politicization can only shoot itself in the foot. China is the most promising economy with a complete manufacturing chain and a dynamic market. Forced termination of cooperation with China is against the will of all parties and is doomed to failure.

In the digital age, the development of countries must inevitably be strongly integrated. The United States should adjust its strategy designed on the basis of the old zero-sum gambling mentality. Business is business. The United States should deal with economic and trade matters in accordance with market principles and economic laws.

American politicians should adopt a more responsible strategy towards their own consumers, businesses and other economies. China’s short-sighted and narrow approach to forced decoupling from China undermines the competitiveness and long-term credibility of the United States.
Source: Global Times



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German election campaign heats up with attacks and accusations http://wbts-forum.org//german-election-campaign-heats-up-with-attacks-and-accusations/ http://wbts-forum.org//german-election-campaign-heats-up-with-attacks-and-accusations/#respond Sun, 25 Apr 2021 09:35:00 +0000 http://wbts-forum.org//german-election-campaign-heats-up-with-attacks-and-accusations/ BERLIN (Reuters) – German Vice-Chancellor Olaf Scholz said on Sunday that opposition Greens candidate for chancellor Annalena Baerbock lacked political experience, describing herself as better placed to lead the world’s largest economy ‘Europe after the September 26 elections. Scholz’s comments show how the German election campaign is heating up more than five months before the […]]]>


BERLIN (Reuters) – German Vice-Chancellor Olaf Scholz said on Sunday that opposition Greens candidate for chancellor Annalena Baerbock lacked political experience, describing herself as better placed to lead the world’s largest economy ‘Europe after the September 26 elections.

Scholz’s comments show how the German election campaign is heating up more than five months before the actual vote, which could also be seen in the continued attacks on conservative candidate Armin Laschet by his Bavarian rival Markus Soeder.

The Greens said last week that Baerbock would run for chancellor, the first time the left-wing Green Party has sought the highest post in its 40-year history.

Support for the Greens has grown over the past year to a few points close to Chancellor Angela Merkel’s conservatives. Two recent polls show that the Greens are overtaking the conservative CDU / CSU alliance.

Scholz, 62, a candidate for her center-left Social Democrats, the junior partner in Merkel’s ruling coalition, said the race was on despite her party lagging behind in third place in the polls.

“Germany is one of the largest and most prosperous industrial countries in the world. It should be led by someone who has experience in governance, who not only wants to govern, but who can actually do it, ”Scholz told the Bild am Sonntag newspaper.

“I am the candidate for Chancellor who has the experience and knowledge to do this job,” said Scholz.

Baerbock, 40, a former trampoline champion, has held no government office but promised voters a ‘new start’ with a focus on investing in education and digital and green technologies.

Baerbock told Frankfurter Allgemeine Zeitung that she would be tough on Russia and China if she became chancellor.

Merkel, who is resigning after 16 years in power, has refused to openly support CDU party leader Laschet, 60, who saw his Bavarian rival Soeder take up the challenge to land the Conservative alliance’s candidacy last week.

After the fierce leadership battle, support for the Tory bloc fell two points to 27%, which helped the Greens overtake the CDU / CSU alliance in a Kantar poll for Bild am Sonntag. The Greens jumped six points to 28%.

Scholz’s Social Democrats were in third place with 13%, followed by the far-right AfD with 10%, the business-friendly FDP with 9% and the leftist Die Linke with 7%.

Scholz said he expected the CDU / CSU bloc to remain weak and achieve an election result well below 30%, which would pave the way for a coalition without the Tories.

Laschet brushed aside further attacks from Soeder over the weekend in which the Bavarian prime minister accused Laschet of representing “old school” policies and a lack of will to modernize the country.

Laschet told the public broadcaster of Radio Bremen that Soeder’s comments made him laugh because it was Soeder’s CSU party that had repeatedly criticized Merkel for her centrist policies in recent years.

Reporting by Michael Nienaber; Editing by Edmund Blair and David Evans



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The week ahead – Economic data, the FED and COVID-19 news at a glance http://wbts-forum.org//the-week-ahead-economic-data-the-fed-and-covid-19-news-at-a-glance/ http://wbts-forum.org//the-week-ahead-economic-data-the-fed-and-covid-19-news-at-a-glance/#respond Sun, 25 Apr 2021 08:18:44 +0000 http://wbts-forum.org//the-week-ahead-economic-data-the-fed-and-covid-19-news-at-a-glance/ On the macro It’s a busier week ahead on the economic calendar, with 58 stats at the center of the week ending 30e April. During the previous week, 46 statistics had been finalized. For the dollar: Durable and basic durable goods orders as well as consumer confidence figures are expected at the start of the […]]]>


On the macro

It’s a busier week ahead on the economic calendar, with 58 stats at the center of the week ending 30e April. During the previous week, 46 statistics had been finalized.

For the dollar:

Durable and basic durable goods orders as well as consumer confidence figures are expected at the start of the week.

Expect core durable goods and Consumer Confidence Index numbers to have the biggest influence.

Thursday, the accent will change to 1st Quarterly GDP and jobless claims figures.

While the jobless claims numbers will have an influence, expect the GDP numbers to be key for the day.

At the end of the week, personal spending and the preferred numbers from the Fed’s Core PCE Price Index will be the focus of attention.

On the monetary policy front, the Fed is also in action on Wednesday. Since the markets expect the Fed to abide by its policy, rate reporting will be the primary area of ​​interest.

During the week, the dollar ended the week down 0.76% to 90.859.

For their:

It’s also a busy week on the economic data front.

German business sentiment and consumer confidence are shaking things up.

Expect both sets of numbers to influence Monday and Wednesday.

On Thursday, the German economy is back on track, with unemployment figures expected.

With worries about Germany’s economic outlook lingering, expect any jump in unemployment to test the euro.

At the end of the week, 1st Quarterly GDP figures for the euro area and member states will also be the focus of attention.

Other statistics include April inflation figures, French consumer spending and unemployment figures for the euro area.

Barring particularly dire numbers, however, we don’t expect too much of an influence from the numbers.

The euro ended the week up 1.00% to $ 1.2097.

For the pound:

It’s a particularly quiet week ahead on the economic calendar.

There are no major statistics from the UK to provide direction for the pound.

A lack of statistics will leave the pound in the hands of COVID-19 news and market risk sentiment.

The pound ended the week up 0.70% to $ 1.3876.

For the loonie:

It’s a relatively busy week ahead on the economic calendar.

February’s retail sales figures will give the loonie some direction on Wednesday.

At the end of the week, the February GDP and March RMPI numbers will also have an influence.

Away from the economic calendar, expect GDP numbers in the US and beyond and crude oil prices to provide direction as well.

The loonie ended the week up 0.22% to C $ 1.2476 against the US dollar.

Outside of Asia

For the Australian dollar:

It’s a relatively quiet week ahead.

1st quarterly inflation figures are expected on Wednesday and Friday.

Expect the Australian dollar to be sensitive to the numbers.

Credit figures to the private sector for March are also expected at the end of the week.

The Australian dollar ended the week up 0.06% to $ 0.7739.

For the kiwi dollar:

It’s a quiet week ahead.

Markets will have to wait until Thursday for March trade data and April business confidence numbers.

We would expect both sets of numbers to influence.

Besides, wait 1st Quarterly GDP figures to also provide direction into the week.

The Kiwi dollar ended the week up 0.80% to $ 0.7199.

For the Japanese yen:

It’s also a relatively busy week ahead.

Retail sales figures will attract attention on Wednesday. Consumer spending remains essential for an economic recovery. In February, retail sales fell 1.5%.

The focus will then be on a busy Friday. The inflation and industrial production figures for March will be the focus.

Expect preliminary industrial production figures for March to have the biggest impact.

On the monetary policy front, the BoJ was also in action at the start of the week.

The Japanese yen rose 0.85 to 107.88 yen against the US dollar.

Outside of china

It’s a quiet week ahead.

Private sector PMI figures for April are due on Friday. Expect the numbers to influence market risk sentiment at the end of the week.

Far from the economic calendar, however, the gossip between the United States and China will also attract attention.

The Chinese yuan ended the week up 0.37% to CNY 6.4963 against the US dollar.

Geopolitics

The United States and China as well as the United States and Russia are the main areas of focus for the coming week.

However, the markets will also need to watch out for any chatter coming from Iran. Progress towards a nuclear deal would be a positive outcome in the market.

Business profits

In the United States, the big names include:

Tesla Inc (Monday), Alphabet Inc (Tuesday), Microsoft Corp (Tuesday), Apple Inc (Wednesday), Boeing Co (Wednesday), Ford Motor Co (Wednesday), Amazon.com Inc (Thursday), Exxon Mobil Corp (Friday )) and Chevron Corp (Friday).

From the EU:

Deutsche Bank (Wednesday) and Total SE (Thursday).

This article originally appeared on FX Empire

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German minister urges dissociation of Nord Stream 2 and Navalny http://wbts-forum.org//german-minister-urges-dissociation-of-nord-stream-2-and-navalny/ http://wbts-forum.org//german-minister-urges-dissociation-of-nord-stream-2-and-navalny/#respond Sun, 25 Apr 2021 05:14:58 +0000 http://wbts-forum.org//german-minister-urges-dissociation-of-nord-stream-2-and-navalny/ BERLIN, April 25 / TASS /. German Economy and Energy Minister Peter Altmeier believes it would be wrong to link the completion of the Nord Stream 2 pipeline project to the situation surrounding Russian blogger Alexey Navalny. “We must not tie the completion of Nord Stream 2 to the Navalny case. We must assess and […]]]>


BERLIN, April 25 / TASS /. German Economy and Energy Minister Peter Altmeier believes it would be wrong to link the completion of the Nord Stream 2 pipeline project to the situation surrounding Russian blogger Alexey Navalny.

“We must not tie the completion of Nord Stream 2 to the Navalny case. We must assess and decide on the construction and completion of the pipeline independently of the separate cases,” he said in an interview with Funke Mediengruppe, published Sunday. “Over the past 50 years, gas supply has never been a political weapon in East-West relations. [the stability of] our gas supplies. “

“We need to assess all of this very carefully before we depart from this policy,” added the minister.

Altmeier reiterated that the construction of the Nord Stream 2 pipeline project was approved by national governments a long time ago.

“The project has been approved by the authorities of various European countries, in accordance with legislative procedures,” he added.

At the same time, the German minister urged to ensure that the interests of Ukraine are not violated once the project is completed. According to him, “the transit of gas through Ukraine will continue even after the completion [of Nord Stream 2]. “

“In addition, by building liquefied natural gas terminals, we will ensure that we are not dependent on pipeline deliveries if Russia tries to exert political pressure through gas supply,” he said. added.

Speaking of the Navalny issue, the minister called on Russia “to respect international standards in the field of human rights”. “His immediate release would be the best scenario,” he said.

Asked about the possibility of imposing new sanctions on Russia on this issue, the minister said: “The decision on sanctions must be taken at the level of the whole EU”.

Navalny saga

Navalny, wanted for repeatedly violating his probation for his suspended sentence in the Yves Rocher case, was detained at Sheremetyevo Airport in Moscow on January 17, 2021. On February 2, the Simonovsky District Court in Moscow l ‘sentenced to a prison term of 3.5 years.

Navalny is serving his prison sentence in the No. 2 penal colony in the Vladimir region of central Russia. On April 5, he was taken to the prison infirmary with symptoms of an acute respiratory illness detected during a routine medical examination. According to regional prison authorities, Navalny was reinstated in his unit on April 9 as his condition improved. His tuberculosis and coronavirus tests came back negative and a panel of doctors concluded that he was in satisfactory condition.

Nevertheless, the regional office of the Federal Penitentiary Service reported on April 19 that doctors had decided to transfer Navalny to a hospital facility at a regional convict hospital.

Nord Stream 2 project

The Nord Stream 2 project envisages the construction of two pipeline chains with a total capacity of 55 billion cubic meters per year, from the coast of Russia to the Baltic Sea to Germany. Construction was suspended in December 2019 when the Swiss pipe-laying company Allseas halted work due to US sanctions. However, construction resumed in December 2020.

Nord Stream 2 AG, the operator of the project reported earlier this month that the pipeline is currently 95% complete, with approximately 121 km of the total length of the pipeline still to be laid.



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Stop hyping the Chinese threat http://wbts-forum.org//stop-hyping-the-chinese-threat/ http://wbts-forum.org//stop-hyping-the-chinese-threat/#respond Sat, 24 Apr 2021 22:35:09 +0000 http://wbts-forum.org//stop-hyping-the-chinese-threat/ The ESCALADE strategic rivalry between the United States and China represents the greatest foreign policy challenge facing President Joe Biden’s government today. Growing confrontation in the South China Sea (SCS) and increasing threats from China to Taiwan have raised concerns that war could break out due to a miscalculation of the crisis. Experts warn, however, […]]]>


The ESCALADE strategic rivalry between the United States and China represents the greatest foreign policy challenge facing President Joe Biden’s government today. Growing confrontation in the South China Sea (SCS) and increasing threats from China to Taiwan have raised concerns that war could break out due to a miscalculation of the crisis. Experts warn, however, that the risk of war between the two powers will remain high, whether the situation in the SCS improves or not, due to structural tensions caused by China’s rise to power. This long-term rise in power could potentially trigger a global war for the domination of the international system.

The new Biden administration is therefore faced with two difficult tasks: to temper the immediate risk of conflict in the SCS and to reduce the likelihood of a hegemonic war unleashed by China’s rise to power.

IN HIS book Destined for warGraham Allison argues that the greatest threat of hegemonic warfare comes when rising powers attempt to overthrow an established world order. These challenges in turn trigger a “Thucydides trap” like the one that sparked twelve hegemonic wars over the past five hundred years. The increasingly heated confrontation between the United States and China, coupled with the growing sense that Beijing aspires to replace the United States at the pinnacle of world power, has led many academics to join Allison in arguing that the conflict between these two powers can also be inevitable.

However, from the industrial age onwards, not all hegemonic challenges led to war, even among rising powers eager to overthrow existing established orders. In the nineteenth century Britain faced fundamental challenges from the emerging and democratic United States determined to reform a world dominated by high powered aristocracies. From 1815 to 1900, the United States was one of the fastest developing countries in the world – a continental-sized country with vast resources, a rapidly growing population, and the champion of an economic and political model that , at the turn of the century, positioned it as the world’s leading economy and democratic inspiration. However, despite numerous diplomatic confrontations throughout the century, the two nations remained at peace.

The reason is that the United States has chosen not to threaten the main source of British hegemony, its naval and financial domination over the world. The United States would not become a challenger to the British until the 20th century, after the rise of Germany forced the United States to build an “unparalleled navy” as World War I left Great Britain behind. Brittany heavily indebted to American financiers, alarming London. of America’s growing influence. As nations remained rivals, the potential for confrontation was dampened by the economic upheaval of the Great Depression and the rekindled German threat under Adolf Hitler. Eventually, the United States would overtake Britain on the high seas during World War II and become the dominant power in the postwar New World.

Under the leadership of Chancellor Otto von Bismarck, Germany also managed to rise to power without starting a war with Britain, although the theory of the power transition would have suggested such an inevitable war. After the German Unification Wars, which culminated in the shocking victory of Prussia over France in 1871, Bismarck acted aggressively to establish the German Empire as the dominant power on the European continent, fundamentally reshaping the system of balance of power established by the Congress of Vienna after Napoleon’s defeat in 1815. Yet it did so while relying on Britain’s world leadership, arguing in 1889 that the Pax Britannica represented “the greatest force for peace in the world”. Rather, Bismarck predicted that Germany would become the most powerful “second-tier” state, a move that instead put it on a collision course with the United States. While Britain viewed the growth of German industrial capacities with growing suspicion and recognized the impact of German economic competition on British domination of the economic system, Bismarck’s Germany did not pose an existential threat to Britain. Brittany.

However, in the late 1880s a new generation of leaders emerged who believed that Bismarck’s restraint was preventing Germany from achieving its “place in the sun” and its rightful place as a world leader. They prompted the new, young and increasingly ambitious Kaiser Wilhelm II to abandon Bismarck’s moderation instead of a “new course” that saw Germany aggressively expand its influence in Asia, Africa and America. of the South well beyond the borders that the “continentalist” Bismarck had envisaged. The most famous of these new advisers, Admiral Alfred von Tirpitz, acknowledged that the new Weltpolitik demanded a powerful navy that could match British might and force London to recognize Berlin as its world equal.

Tirpitz’s massive shipbuilding embodied the very threat of centuries that British policymakers had sought to neutralize: a rival capable of invading or blocking the British Isles. The “Tirpitz Plan” posed an existential threat not only to Britain’s geopolitical supremacy, but to her survival as a nation. Britain responded with its own massive shipbuilding, including the creation of the Revolutionary Dreadnought battleship and InvincibleA class battle cruiser that made the world’s existing navies obsolete. Rather than forcing London to give in to its demands, Britain would triumph in the ensuing naval arms race while resolving its age-old rivalries with France and Russia, eventually joining the two powers in World War I. German rivalry would make the United States the dominant power in the world decades later.

In the aftermath of WWII, the newly created American hegemony faced two very different challenges to its world leadership: the Soviet Union, which aimed to replace American liberalism with Soviet Marxism, and Japan, whose the state-centered capitalist model unleashed one of the most dramatic economic ascents. in history, which has led many Americans to fear that Japan is destined to supplant the United States as the new leader of the post-war world order.

In 1945, the power of the United States was so vastly superior to any other nation that the world was much more unipolar than bipolar. The US economy accounted for nearly 50 percent of global GDP, US finances kept the global economy functioning, and US humanitarian aid fueled a war-torn world. America was in exclusive possession of the atomic bomb, and its global power projection capability enabled it to intervene in all corners of the world if necessary. The Soviet Union, on the other hand, was a powerful but ultimately regional actor with large conventional forces which, because of its size, threatened three key theaters: Europe, the Middle East and Asia. This forced the United States to end its historic isolationism and create a system of global alliances to deter Soviet expansion.

While conventional Soviet military might and political warfare capabilities endangered American interests, they did not pose an existential threat to the new American ancestry. American strategists were convinced that these new alliances did not require the deployment of American military might overseas – in fact, the United States would demobilize most of its conventional capabilities soon after World War II. During his Senate testimony in defense of the NATO treaty, Secretary of State Dean Acheson has repeatedly assured the Senate Foreign Relations Committee that the treaty does not require a permanent US military presence in Europe. Therefore, America did not need to expand its military capabilities after the creation of NATO in May 1949, nor even to establish a system of military command in Europe.

That changed, however, with the Kremlin’s acquisition of the atomic bomb in September, which gave the Soviet Union the ability to directly attack the continental United States. US strategic planners have warned that due to the country’s high concentrations of economic and military power, the Soviet Union could launch a successful nuclear first strike in the mid-1950s. The Soviet atomic bomb negated the once-decisive economic power of the United States. United States, which means they no longer had the luxury of waiting for war to mobilize their industries and rebuild their military.

The North Korean invasion confirmed the bellicose intentions of the Soviet Union, leading President Harry Truman to authorize a massive build-up of conventional and nuclear capabilities and to implement increasingly aggressive military and political warfare strategies to destabilize the Soviet system and prevent a Soviet nuclear first strike. The risk of war between the two powers came to a head as the Berlin Crisis intensified, which in turn led directly to the Cuban Missile Crisis of 1962.

Many analysts believed the nuclear arms race made war inevitable, arguing that the rapid increase in nuclear stocks prompted the first nuclear strikes. The United States’ test of a multi-megaton hydrogen bomb in 1952, nearly a thousand times more powerful than the Hiroshima bomb, amplified these fears: Everyone understood that when the Soviets developed their own bomb (which they did in 1955), the survival of the United States would be at stake.

The world survived this incredibly dangerous era. The expansion of surviving nuclear forces, including the dispersal of Strategic Air Command bomber bases and the construction of ballistic missile submarines, enhanced these first strike pressures, laying the groundwork for the nuclear revolution which in turn stabilized the global strategic environment. Deterrence was further reinforced by the ideological faith shared by both sides in the eventual demise of their opponent’s political and economic system, which ultimately occurred with the collapse of the Soviet Union in 1991.



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