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Wall Street Equals Europe In Profitability In The Year If Dollar Is Added – Niagara News

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The depreciation of about 2.5% of the euro against the dollar so far this year ties the profitability of the S&P 500 and the EuroStoxx 50 in 2021 for the eurozone investor. The main Wall Street index accumulates a rise of 13.5% since January 1 and the Old Continent reference 16% in the same period. Profits that are practically equal to the currency effect.

“Since the end of May, the dollar has recovered strongly, and most of the appreciation occurred after the Federal Reserve (Fed) monetary policy meeting on June 16 [the euro fell 2% in just days, to lose $ 1.19 for the first time since March], “observes the BofA team of analysts.

Since the institution included two increases in interest rates in 2023 among its objectives and definitely introduced the debate on the withdrawal of stimuli and the reduction of debt purchases (tapering), the currency market has been shocked and has it is clear that the cycle of the euro within the global…

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