Connect with us

Economy

Official: euro reaches parity against dollar – Markets

Published

on

Official: euro reaches parity against dollar - Markets

After the euro was already very close to parity with the dollar on Tuesday, today the euro actually reached this threshold. For the first time in 20 years, more precisely since the summer of 2002, the euro is worth exactly the same as the dollar.

The parity was reached after the release of data on US inflation, which reached 9.1% in June, the highest since 1981.

Since the beginning of the year, the euro has fallen 12.06% against the dollar, a fall exacerbated by the difference in speed between the US Federal Reserve (FRS) and the European Central Bank (ECB) in the decision-making process to raise interest rates. tariffs and the energy crisis caused by the war in Ukraine.

“We believe heightened worries about a wide-ranging recession were largely responsible for this sharp devaluation of the euro, with markets taking refuge in the safe haven of the US dollar over fears that soaring global inflation would weigh on global growth. in the second half of 2022,” explains Matthew Ryan, head of market strategy at Ebury, in statements to Negosios.

“The impact of these concerns has been strongly felt in the Eurozone. Then the existing problems with the supply of Russian energy carriers provoked another sharp increase in European natural gas prices, which have more than doubled since mid-June,” the expert adds.

In addition, the divergence between monetary policy pursued by the Fed and the ECB is another factor that may have led to this parity phenomenon, a factor that was exacerbated by the release of US inflation data in June that showed signs of being central. The US bank may further tighten its hawkish monetary policy to deal with the accelerating price index.

See also  BMW asks not to drive or charge iX and i4 trams due to fire hazard - Observer

“On the other hand, the ECB has lagged far behind many of its main competitors in raising interest rates, in particular it has lagged far behind the Fed, which helped sink the single currency,” writes Matthew Ryan.

Investors are now bracing for slower economic growth in both Europe and the United States, with George Saravelos, an analyst at Deutsche Bank predicting in statements to the Financial Times “an inevitable recession on both sides of the Atlantic”. The US bank Goldman Sachs also warned of an imminent recession in the eurozone.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Economy

Everything has been delivered. 10 Bugatti Centodieci are already in the hands of the owners

Published

on

Everything has been delivered.  10 Bugatti Centodieci are already in the hands of the owners

OAll Bugatti Centodieci have been delivered, the Molsheim-based brand said on Monday. Cristiano Ronaldo received the number 07 in October this year. and Bugatti has now revealed that the latest unit – #10 – is already in the possession of its owner.

“The Centodieci combines all the values ​​of the Bugatti brand in an extraordinary package: rarity, innovation, heritage, craftsmanship and unrivaled performance. The production batch of 10 units was so in demand by our customers that it was sold before the Centodieci. was even officially presented,” said Christophe Piochon, president of Bugatti.

This latest example is finished in Quartz White with carbon fiber trim on the bottom and matte grilles. The brake calipers are painted in Light Blue Sport, as is the logo on the rear that refers to the EB110, the iconic Bugatti model that inspired this Centodieci. Inside, the predominant color is also blue, as you can see in the images above.

This block is powered by the same block as the other nine instances. The 8.0-liter W16 with four turbines is capable of developing 1600 hp. In terms of performance, this allows the Centodieci to hit 100 km/h in just 2.4 seconds and reach a top speed of 380 km/h.

Recall that each unit costs the owners eight million euros before taxes.

Read also: We already know when the Bugatti Centodieci fell into the hands of Ronaldo.

Continue Reading

Economy

The first Dacia hybrid. “The cheapest hybrid family on the market”

Published

on

The first Dacia hybrid.  "The cheapest hybrid family on the market"

BUT Dacia revealed this Monday that the hybrid engine has been available since March on the Jogger, the Romanian brand’s model known to be available with a seven-seat variant.

The Jogger Hybrid 140, Dacia’s first hybrid, will hit dealerships in March, but customers can expect and order it as early as January.

The price has been revealed by Dacia and since it’s only available in the seven-seater SL Extreme, it starts at €28,800. The brand claims it is “the most affordable hybrid family car on the market.”

Available in six existing colors to celebrate the launch of this hybrid, there will be a slate gray version, as you can see in the images above.

Equipped with a 1.6 liter four-cylinder petrol engine with 90 hp, the Jogger is also powered by two electric motors (a 50 hp engine and a high-voltage starter-generator). The total power is 140 horsepower. The electric transmission is automatic, four-speed, connected to an internal combustion engine, and two speeds are connected to an electric motor. This combined technology was possible, according to Dacia, only due to the lack of clutch.

Combined with the energy recovery levels of the 1.2kWh (230V) battery pack and the efficiency of the automatic transmission, regenerative braking delivers all-electric traction on 80% of urban journeys and saves up to 40% of fuel compared to a combustion engine vehicle.

Read also: Dual-fuel Dacia Jogger Eco-G. We tried 5 seater and LPG…

Continue Reading

Economy

See how Tesla tests its electric Semi truck in the worst-case scenarios

Published

on

Tesla Semi camião elétrico testes

Tesla has finally been able to bring its long-awaited Semi to market. This electric truck promises to revolutionize transportation and bring all the unique characteristics of this type of electric vehicle to this class of vehicles.

Now that the first units have been delivered, there is hope that they will finally be mass-produced and reach more transport companies. With so many promises to be kept, a new video is now emerging showing Tesla testing its Semi truck under worst-case scenarios.


Tesla Semi is already on the market

Like all Tesla electric vehicles, Semi follows the same line of creating a unique design associated with a platform with the most modern technology available. The proof is in what was presented to the public and surprised most people.

To prove the quality of this new proposal, Tesla published in your LinkedIn account new video. In it, he reveals some of the testing he's done to determine the strength and quality of the Semi's design and its (potential) durability.

Tests to prove its durability

It has been revealed that the Tesla electric truck is subjected to numerous tests and its application in the worst scenarios that drivers may face. It doesn't stop at the ruggedness of the Semi's designs, but goes further and focuses on the motors and batteries themselves.

This is the proof that many have been waiting for to ensure that this new proposal is not limited to a lot of autonomy. Its resistance is great and will provide greater durability, further enhancing the Semi's value and performance.

See also  Elon Musk asked an employee for sex in exchange for a horse. SpaceX pays $250,000 to keep woman quiet - Observer

high quality electric truck

Tesla has already showcased the Semi's quality with a video showing its truck driving roughly 500 miles on just one charge. The big news here is that he managed to make this long journey with a maximum load of about 37 tons.

Now Tesla remains to widely place the Semi on the market. At the moment, only a few companies have access to this new product, with a very long list of pending deliveries, who want to start mass-using this electric truck offering.

Continue Reading

Trending