{"id":658351,"date":"2025-01-08T00:00:00","date_gmt":"2025-01-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/08\/eur-stands-to-hit-usd-parity-with-the-usd\/"},"modified":"2025-01-08T00:00:00","modified_gmt":"2025-01-08T00:00:00","slug":"eur-stands-to-hit-usd-parity-with-the-usd","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/08\/eur-stands-to-hit-usd-parity-with-the-usd\/","title":{"rendered":"EUR stands to hit USD parity with the USD"},"content":{"rendered":"

The EUR is teetering towards parity with the USD<\/strong>, Bloomberg<\/a> reports citing numerous analysts who warn that the currency could drop further following US president-elect Donald Trump\u2019s inauguration this month. \u201cWe\u2019re not far off so it could happen very quickly,\u201d senior strategist at BNY Geoffrey Yu said, adding that \u201cparity is inevitable.\u201d<\/p>\n

Where we\u2019re at: <\/strong>The EUR tumbled over 7% since September 2024, recently touching a more-than-two-year low at USD 1.0226. \u201cSentiment could not be worse,\u201d head of G-10 FX spot trading at Nomura Antony Foster said. The EUR has hit USD parity a small handful of times in its 25 years of existence, Bloomberg notes, most recently in 2022 after Russia launched its invasion of Ukraine.<\/p>\n

Options markets suggest a 40% chance that the EUR will hit parity with the greenback in<\/strong> 1Q 2025<\/strong>, with contracts targeting parity gaining over the last week. JPMorgan also expects that parity could be realized this quarter, with Wells Fargo expecting the threshold to occur during the second quarter. Other analysts expect it to happen as soon as this month.<\/p>\n

What\u2019s behind the approaching parity:<\/strong> Analysts including Bank of New York Mellon and Mizhuo point to mounting pressures on Europe which could find itself caught in the middle of a trade war following Trump\u2019s move to the White House<\/a>. Weak economic growth, aggressive ECB rate cuts compared to a slower approach by the Fed, and political instability also contribute to a bearish outlook on the EUR, Bloomberg explained. <\/p>\n

The EUR\u2019s falling value is also related to the strength of the USD<\/strong>, which has been rising<\/a>over the past several weeks since Trump\u2019s reelection<\/a>. The USD\u2019s rise is likely triggered in large part by Trump\u2019s plans to impose broad tariffs on imports from several countries (including Canada, Mexico, and China), although the question of whether the currency rally will continue depends on whether Trump follows through on his campaign pledges. <\/p>\n

MARKETS THIS MORNING- <\/p>\n

Asian markets are broadly in the red in early trading this morning<\/strong>, with the exception of South Korea\u2019s Kospi, which is firmly in the green. Hong Kong\u2019s Hang Seng Index is down more than 0.6%, mainland China\u2019s CSI is down 0.8%, and Shanghai is also down 0.4%. The Kospi is bucking the trend so far and is up 1.3%.<\/p>\n

Futures suggest a more positive open for Wall Street later today<\/strong>, with futures for the Dow Jones, S&P 500, and Nasdaq all in the green despite all three indexes falling at the end of trading yesterday. <\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

<\/use><\/svg><\/p>\n<\/td>\n\n

EGX30<\/strong> (Monday)<\/strong><\/p>\n<\/td>\n

\n

29,930<\/p>\n<\/td>\n

\n

-0.8% (YTD: +0.6%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CBE)<\/strong><\/p>\n<\/td>\n

\n

Buy 50.59<\/p>\n<\/td>\n

\n

Sell 50.73<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CIB)<\/strong><\/p>\n<\/td>\n

\n

Buy 50.60<\/p>\n<\/td>\n

\n

Sell 50.70<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Interest rates (CBE)<\/strong><\/p>\n<\/td>\n

\n

27.25% deposit<\/p>\n<\/td>\n

\n

28.25% lending<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Tadawul<\/strong><\/p>\n<\/td>\n

\n

12,113<\/p>\n<\/td>\n

\n

+0.1% (YTD: +0.6%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

ADX<\/strong><\/p>\n<\/td>\n

\n

9439<\/p>\n<\/td>\n

\n

+0.1% (YTD: +0.2%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

DFM<\/strong><\/p>\n<\/td>\n

\n

5214<\/p>\n<\/td>\n

\n

+0.5% (YTD: +1.1%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

S&P 500<\/strong><\/p>\n<\/td>\n

\n

5909<\/p>\n<\/td>\n

\n

-1.1% (YTD: +0.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

FTSE 100<\/strong><\/p>\n<\/td>\n

\n

8245<\/p>\n<\/td>\n

\n

-0.1% (YTD: +0.9%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Euro Stoxx 50<\/strong><\/p>\n<\/td>\n

\n

5012<\/p>\n<\/td>\n

\n

+0.5% (YTD: +2.4%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Brent crude<\/strong><\/p>\n<\/td>\n

\n

USD 77.05<\/p>\n<\/td>\n

\n

+1.0%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n

\n

USD 3.46<\/p>\n<\/td>\n

\n

+0.2%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Gold<\/strong><\/p>\n<\/td>\n

\n

USD 2665<\/p>\n<\/td>\n

\n

+0.7%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

BTC<\/strong><\/p>\n<\/td>\n

\n

USD 96,505.20<\/p>\n<\/td>\n

\n

-5.1% (YTD: +3.4%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n

\n

THE CLOSING BELL-<\/p>\n

The EGX30 fell 0.8% at Monday\u2019s close<\/strong> on turnover of EGP 3.3 bn (17% below the 90-day average). International investors were the sole net buyers. The index is up 0.6% YTD.<\/p>\n

In the green: <\/strong>Fawry (+2.7%), Palm Hills Development (+1.3%), and Ezz Steel (+0.9%).<\/p>\n

In the red: <\/strong>Eastern Company (-4.1%), Elsewedy Electric (-3.1%), and Oriental Weavers (-2.4%).<\/p>\n","protected":false},"excerpt":{"rendered":"

The currency has slipped 7% since September<\/p>\n","protected":false},"author":1,"featured_media":658352,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[72,119,122],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-658351","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-planet-finance","tag-enterpriseam","tag-financial-markets","tag-planet-finance","wpautop","entry"],"acf":{"mongo_id":"4fe1ff21-8968-4cd9-bf3d-d5eb2d815c03","order":"14","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/1\/294.jpg","photo_position":"above","homepage_title":"","full_issue_title":"EUR stands to hit USD parity with the USD following Trump\u2019s return","related_issue":[658328],"teaser":"The currency has slipped 7% since September","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/1\/.5446dd2f-5924-4389-82de-14b45d3a2571.mp3"},"yoast_head":"\nEUR stands to hit USD parity with the USD - 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The EUR is the new funding currency of choice for EM carry traders: Investors trading emerging-market currencies with borrowed EUR have seen as much as 29% gains this year as the EUR\u2019s fall against the greenback helps prop up some popular EM carry trades, Bloomberg reports. The\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":549006,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/30\/eu-energy-prices-up-eu-currency-down-iranian-oil\/","url_meta":{"origin":658351,"position":1},"title":"EU energy prices up. EU currency down. Iranian oil\u2026?","author":"enterpriseam admin","date":"30 August 2022","format":false,"excerpt":"EU hits panic button as energy crisis escalates: The EU plans to \u201cdecouple\u201d electricity prices from gas as part of an emergency package of measures to tackle the spiraling energy crisis in the continent, EU Commission President Ursula von der Leyen said yesterday. Natural gas and electricity prices are now\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":563171,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/21\/more-support-in-europe-for-a-digital-eur\/","url_meta":{"origin":658351,"position":2},"title":"More support in Europe for a digital EUR","author":"enterpriseam admin","date":"21 June 2021","format":false,"excerpt":"Plans for a digital EUR has got another endorsement from a European Central Bank (ECB) official: Speaking to the Financial Times, ECB executive board member Fabio Panetta moved to assuage concerns about consumer privacy, claiming that a centrally-regulated digital EUR would safeguard the bloc from threats posed by other cryptocurrencies.A\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":548859,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/24\/signs-of-recession-are-mounting\/","url_meta":{"origin":658351,"position":3},"title":"Signs of recession are mounting","author":"enterpriseam admin","date":"24 August 2022","format":false,"excerpt":"A slowdown in business activity in the world\u2019s major economies is flashing warning signs for the global economy: Most of the world\u2019s biggest economies saw business activity contract in July as spiraling inflation, supply shortages and interest rate hikes weighed on consumers and businesses. Flash PMI data brought to us\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":549689,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/27\/this-morning-the-egp-is-a-few-pips-away-from-hitting-a-record-low-oecd-slashes-global-growth-forecasts-the-uae-just-eased-covid-restrictions\/","url_meta":{"origin":658351,"position":4},"title":"THIS MORNING: The EGP is a few pips away from hitting a record low; OECD slashes global growth forecasts + the UAE just eased covid restrictions","author":"enterpriseam admin","date":"27 September 2022","format":false,"excerpt":"Good morning, wonderful people, and happy hump day to you all. Global markets are feeling a bit choppy this morning, so we suggest you fasten your seatbelts as 3Q races to a close. EGP WATCH- The EGP fell close to record lows against the greenback yesterday, continuing a slide that\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":561305,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/01\/what-the-markets-are-doing-on-1-april-2021\/","url_meta":{"origin":658351,"position":5},"title":"What the markets are doing on 1 April 2021","author":"enterpriseam admin","date":"1 April 2021","format":false,"excerpt":"KSA\u2019s top listed companies are redirecting dividends into MbS\u2019 investment plan: Twenty-four of Saudi Arabia\u2019s largest companies have agreed to reduce dividend payouts and commit USD 1.3 tn over the next 10 years to Crown Prince Mohammed bin Salman\u2019s new domestic investment strategy, Al Arabiya reports. The \u201cShareek\u201d program, announced\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/658351","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=658351"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/658351\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/658328"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/658352"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=658351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=658351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=658351"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=658351"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=658351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}