The ECB brings an opportunity to the EUR traders
The European central bank will conduct its press conference on January 24 at 15:30 MT time.
Euro zone customers still mostly use cash for purchases
In the euro zone cash is still preferred by consumers when it comes to making purchases, notwithstanding a great number of Western economies are quickly shifting to electronic payments. That’s what a poll issued by the European Central Bank revealed on Friday.
As follows from these figures, the euro zone happens to be one of the slowest among big Western economies in breaking up with old-school cash, trailing such countries as Great Britain, Australia, Canada and the United States.
Nearly 79% of point-of-sale transactions were carried out in cash in 2016, with the rate in Germany, the bloc's number one economy, at 80%, thus underscoring German unease as for the ECB's decision to remove 500 euro notes, a move widely considered to be a first step in drifting away from cash.
Having undergone devastating world wars as well as hyperinflation, economically conservative Germans are used to relying heavily on cash and even now still prefer traditional cash deposits.
Similar
American home sales reach three-year minimum
In December, American home sales slipped to their lowest value for three years…
UK pay surge reaches fresh 10-year maximum as employment jumps
UK employees’ pay surge reached another 10-year maximum and employment rallied by much more than anticipated for the three months to the end of November due to the fact that the UK labor market was still firm notwithstanding other signs of an economic…
Latest news
Forex today: easing geopolitical tensions
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
Common currency ascends ahead of euro zone data
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
Greenback edges down
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
Deposit with your local payment systems
