Euro again weakens against U.S. dollar in successive trading sessions.
Here's a fresh take on the economic news:
In an evening shift at 19:24 (Lisbon time), the euro found itself trading at $1.1349, moving down from $1.1397 at 18:00 on Tuesday. But don't let that number fool you, as it gained ground against the pound and the yen.
The European Central Bank (ECB) had set the euro's reference exchange rate at a slightly stronger $1.1373. Yet, the euro's journey wasn't all smooth sailing. Across the pond, the U.S. economy took a dip with the Gross Domestic Product (GDP) sliding by 0.3% between January and March, marking the first drop in three years. This decline was influenced by brisk imports prior to the implementation of certain tariffs.
Analysts had estimated a 0.4% decline, so this drop was somewhat of a surprise. On the other hand, France's economy, after a contraction of 0.1% in the last quarter of 2018, managing to grow by 0.1% in the first quarter of the year. Meanwhile, Germany's economy made a steady progress, increasing by 0.2% in the first three months of the year compared to the previous year, adjusting for price, seasonal, and calendar effects.
Beyond the euro's performance and GDP fluctuations, there's news swirling about a potential dividend distribution plan from an institution known as BCP. However, the specifics of this BCP and its dividend distribution remain unclear as of now. While reports mention two institutions with the "BCP" acronym - Banco de Crédito del Perú (BCP) and Banco Comercial Português (BCP) - neither has explicitly disclosed dividend figures in their recent reports.
While we wait for more information on BCP, it's worth mentioning that the Bangchak Corporation (unrelated to the "BCP" in our query) approved a dividend of 1.05 baht/share for 2024 during its 2025 AGM. So, stay tuned for updates on BCP and any other financial developments that might tickle your curiosity.
- The ECB (European Central Bank) set the euro's reference exchange rate at a stronger $1.1373, despite the French GDP also showing a drop of 0.1% in the last quarter of 2018, followed by a growth of 0.1% in the first quarter of the year.
- The U.S. economy experienced a drop in GDP by 0.3% between January and March, marking the first decline in three years, and this was largely influenced by brisk imports prior to the implementation of certain tariffs, a fact that surprisingly showed a less severe drop than anticipated, with analysts having estimated a 0.4% decline.
- Businesses and economists are keeping a close eye on BCP, an institution whose specifics and dividend distribution plans remain unclear at this time, as reports mention two potential candidates - Banco de Crédito del Perú (BCP) and Banco Comercial Português (BCP).
- Unrelated to the "BCP" under investigation, the Bangchak Corporation has already approved a dividend of 1.05 baht/share for 2024 during its 2025 AGM, adding further intrigue and excitement to the world of global finance.
