#peso-depreciation

#peso-depreciation

Escalating geopolitical risk continued to dominate global markets' concerns, with safe-haven demand keeping the dollar index anchored near a multi-week high.

High energy prices are kryptonite for the housing market. Affordability, especially for those first-time home buyers, is now an elusive dream until oil prices come down and interest rates come down.

The orthodoxy across much of the world has been that only markets should decide what things cost, as argued by influential economists like Friedrich Hayek.

Sterling fell by 0.5% against the dollar, dropping below $1.33, as the US currency strengthened due to a flight to safety. The dollar index increased by 0.3%.

In his opening address of the parliamentary year, while insulting and mocking opposition legislators, Milei alluded to an alleged conspiracy involving members of his government to try to overthrow him and with a rather unsubtle gesture, he seemed to point to Villarruel, seated behind him.

We know that people find old Irish banknotes and coins all the time, so the exchange of old money is an important service we provide to the public. We have a standard procedure in place to assist people, and we also have increased checks for exchanges above €750 to ensure source of funds and proof of ownership.

For the ECB, today's German inflation data will not change the course of monetary policy. The figures confirm that at least for the time being, inflation no longer tops the list of concerns for European policymakers.

The Senate approved the so-called labour modernization law on Friday with 42 votes in favour, 28 against and two abstentions, handing the libertarian president one of his most significant legislative wins. Milei's administration argues the changes will spur investment and create formal jobs, while labour unions contend they weaken worker protections.

The U.S. dollar's value has fallen 8% over the past year, as the price of gold has skyrocketed, said the WSJ Dollar Index. Some think it is a good thing. President Donald Trump said recently a weaker dollar is great. The idea is a weaker currency boosts exports and employment while a strong currency can throttle an economy. While the idea of a weaker dollar has had supporters over the decades, economists often argue gains can be eaten up by domestic inflation and deflation.

The European Union will on Saturday sign a deal 25 years in the making with the South American trade bloc Mercosur, creating one of the world's largest free trade areas at a time of growing protectionism and volatility. The long-awaited agreement comes amid the sweeping use of tariffs and trade threats by US President Donald Trump's administration, which has sent countries scrambling for new partnerships.

Twenty-five years in the making, the EU-Mercosur deal a sweeping trade agreement between the European Union and the Latin American countries Brazil, Argentina, Paraguay and Uruguay has hit another roadblock, just days after being signed. The European Parliament who has yet to formally vote on the deal, voted on Wednesday, January 21, to send parts of the agreement to the European Court of Justice (ECJ) for a legality check.

But what is legally possible could pose a serious political problem. Because, as the European Commission pointed out when remarking on the Parliament's negative vote, the legal formula used to process the ratification of this agreement is the same one used for an agreement reached with Chile that did not raise any questions inside the European Parliament. In other words, the outcome of this vote suggests that the opposition for legal concerns is motivated less by legal reasons than by political ones.

Argentina has repaid the funds it drew from a $20 billion credit line with the Trump administration, U.S. Treasury Secretary Scott Bessent announced Friday, in a crucial step for Argentine President Javier Milei to restore confidence in his chronically distressed economy. In addition to making payments to bondholders, Milei's radical libertarian administration had "quickly and fully repaid its limited draw," Bessent said, without specifying the amount.

On Jan. 3, soon after U.S. forces captured Venezuelan president Nicolás Maduro at his compound in Caracas, the political researcher Tyson Brody noticed strange activity on Polymarket. Brody is one of a growing group of observers who monitor for unusual trades on the platform, which allows people to gamble on the outcome of future events, from the weather to NFL games to governmental upheavals.