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Market news: Joe Ward, Teslas (TSLA.O) Vice President of Business in Europe, the Middle East and Africa (EMEA), will lead the companys sales, service and delivery divisions.
Cleveland Fed President Hammark, a 2026 FOMC voting member, will speak in ten minutes; the EIA will release its monthly Short-Term Energy Outlook report in ten minutes.
The German DAX 30 index closed down 1.37 points, or 0.01%, at 25,003.37 on Tuesday, February 10th; the UK FTSE 100 index closed down 32.01 points, or 0.31%, at 10,354.22 on Tuesday, February 10th; the French CAC 40 index closed up 4.60 points, or 0.06%, at 8,327.88 on Tuesday, February 10th; European... The Stoxx 50 index closed down 10.85 points, or 0.18%, at 6048.16 on Tuesday, February 10; the Spanish IBEX 35 index closed down 70.89 points, or 0.39%, at 18124.21 on Tuesday, February 10; and the Italian FTSE MIB index closed down 26.31 points, or 0.06%, at 46796.50 on Tuesday, February 10.
According to sources, Venezuela has resumed oil exports to Israel after Maduros overthrow, and has shipped its first shipment of crude oil to Israel.
On February 11th, Michael Pfister of Commerzbank stated in a report that the European Central Bank (ECB) may struggle to address the recent strength of the euro, as the factors driving this trend are beyond its control. Since hitting a low in August 2022, the euro has appreciated by over 15% on a trade-weighted basis, but this largely reflects the weakness of other currencies. The euro often benefits when other currencies face political crises, but this is detrimental to eurozone exports. ECB officials also emphasized that the euros appreciation is primarily expected to occur in the first quarter of 2025, when Germany announces its fiscal plan and the dollar weakens significantly. Pfister stated that the ECB is only likely to react more strongly if the euros appreciation becomes more pronounced.