Euro

The United States has started a pulse in the currency market. One in which the euro is being imposed on the dollar

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Uncertainty does not feel good to the bags. Nor to the dollar. At least if we look at its evolution against other currencies, such as Yen, the Swiss Franco or The euro. With The commercial war And Trump’s attacks on the Federal Reserve as a backdrop, the green ticket has started the week standing at some Minimum levels in front of the European currency that had not been seen for years. The big question is … What does that mean? A March down. Although uncertainty seems to have been installed in the markets, everything indicates that the dollar will say goodbye to March weakened compared to other currencies. He US dollar indexwhich measures its strength against the main foreign currencies, started the penultimate week of the month falling 1% until they were minimal that had not been seen for more than three years. Meanwhile, the euro was quoted above $ 1.15, its maximum value Since 2021. The mirror of currencies and gold. The dollar falls in front of the yen And the Swiss Franco and the eurowhich now marks $ 1,1499 after having reached on Monday 1,1573 per first time Since the end of 2021. The scenario feels good too (At least in value) To gold, one of the most consolidated shelter assets: yesterday the precious metal reached $ 3,430 per ounce. Only so far this year has shot above 27%. Click on the image to go to Tweet. The situation of the euro. With that backdrop there are analysts who They are already highlighting the pronounced ascending curve that records the euro in front of the green ticket so far from 2025. of the minimum change of 1,024 Dollar registered in early January has passed to 1,476. And with a graph clearly up. After the latest advances of the euro against the dollar and its reinforcement against the US currency, so far from 2025 the European currency has risen 11.3%. The balance is also positive for the pound (6.8%), the Swedish crown (16.5%), the Swiss Franco (12.3%) and the Yen (11.7%), which They overcome the advance of the European currency. The criticism of the Fed and Powell. When analyzing drifting the dollar Analysts usually point out various factorssuch as the crisis of trust in the green ticket, a loss of attractiveness in a scenario marked by Trump’s protectionist policies or changes in the global economic order and US debt. After the last fall, another added key indicates: the criticism From the White House to the Federal Reserve (Fed) and its responsible, Powell, reluctant to lower interest rates. Trump’s threats affect the image of the body, which can also influence the value of the dollar or the confidence in the stability of US markets. “Trump’s renewed criticism of the FED president this week is a reminder that commercial policy is not the only channel through which the unconventional approach to the administration could undermine the dollar and the US assets markets,” warns in CNN Jonas Goltermann, senior economist of markets at the capital firm Economics. Why is it important? For several reasons. First because the dollar is more than the currency with which the Americans pay their purchases. Throughout the last 80 years it has been the Vault key of the global financial system, acts from reference and its position against other currencies has influenced the US economy. He did it then. And it will probably do it now too. There are analysts who They point that Trump seeks to weaken the dollar to favor US exports (one of its declared objectives is to reindustrialize the country) and balance its balance and commercial deficit, something that tariffs would also help. The depreciation strategy of the green ticket would also lead to threats, however, such as problems to face debt in the United States. Images | Gage Skidmore (Flickr) and Stock Birken (UNPLASH) In Xataka | There is something more disturbing than the collapse of the bag: the collapse of the shelter values ​​such as the US dollar and debt

Costco turns ten in Spain. Has not yet won a single euro

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Costco has completed a decade of operations in Spain without having declared benefits, and therefore, without having paid a single euro in companies, according to its annual accounts and what was published by Digital economy. The figure. 143 million euros. This is the accumulated amount of losses that the Spanish subsidiary of Costco has declared between 2014 and 2023. However, its sales have multiplied by five since 2017, reaching 544 million euros in 2023. It has also increased its physical presence with five new hypermarkets, plus two others under construction. It has expanded its partner base to 650,000 (24% more than the previous year). Employ 1,256 people in Spain. It is building A logistics center in Guadalajara where he has invested more than 50 million. Why is it important. This case is an example of a common strategy among multinationals: artificially maintain red numbers in specific markets to avoid local taxation, while their operations and market presence increase. The company itself acknowledges in its accounts that “it has not had to satisfy any amount for societies tax in Spain”, adding that its greatest contribution has been “the generation of local wealth.” The money trail. Costco does not publicly detail which mechanisms to maintain constant losses despite its growth, but the usual strategies include: Loans between subsidiaries with high interest. Canons for the use of brand, technology or know-how. Transfer prices in purchases to other subsidiaries. Strategic Business Costs. The trend. The US matrix continues with its expansion in Spain, despite losses. The group has reduced its red numbers up to 7.7 million in 2023 (its best historical result), and the company projects that will continue with losses “until it reaches a market penetration and sales level”. Said in Román Paladino: until it has grown enough. The general panoramic. This strategy is not exclusive to Costco. Large multinationals such as Amazon, Starbucks or Ikea have resorted to different fiscal engineering mechanisms To reduce their taxation in the countries where they operate, within legality but they are not some controversy. Meanwhile, the Spanish client seems oblivious to these fiscal ins and outs: the 650,000 members who pay their annual fee to access the costco prices continue to increase, a sign that their model works independently of the declared red figures. Outstanding image | Costco In Xataka | Themu seemed unstoppable. His latest results begin to question his model

All those touch screens in the Tesla and the rest of the cars sound very well. Euro NCAP thinks otherwise

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Euro NCAP has been notifying for about a year: cars that bet absolutely everything to the touch screens will have problems to obtain the coveted five stars of its qualification system. For some manufacturers Only the screens mattera Simply terrible decision that allows them to save costs by adding additional steps that could be made by pressing a simple button. The date on which Euro NCAP will begin to penalize this philosophy is closer, but we have bad news: it will not change practically anything. Euro Ncap pressures. We are more or less agree with the methodologies used by its system, Euro NCAP is the most relevant body in Europe to evaluate the safety of new vehicles. After performing its collision tests and various trials, it is evaluated by a system of stars (up to five) how sure is the car. The system takes into account adult protection systems, children, impact on pedestrians and security assists (ADAS) among others and, from 2026, an additional factor enters into the equation: how simple it is to perform basic car functions. Specifically, these five. Selection of flashes Button activation Warning Ring Activate the windshield wiper Activation of Ecall emergency button If it is not possible to activate each and every one of these functions quickly by means of a physical button, the car will not get the five stars. Why (almost) nothing will change. Virtually all current cars have physical controls for the actions described. One of the few that do not include manufacturers such as Tesla is that of Ecall emergency activation, which currently can only be activated using the upper bar of its touch screen. If the American company wants five stars in the cars that you sell in Europe, you will have to adopt this button in physical shape, or in the steering wheel or location they consider. It is a movement that may seem lower, but introducing a new button in a vehicle, or not in the steering wheel, it is important additional costs for the thousands of units that will have to be manufactured in 2026. Whatever it may be, in the face of the end user, everything will remain practically the same: beyond these mandatory standards, everything will continue to be governed by a screen. An important brake for industry. Although this new Euro NCAP standard will not be especially relevant, the organism’s pressures to the industry to keep the physical buttons are more than necessary. Volkswagen already had among his plans to end them to replace them with screenswith the consequent criticism of your buyers that made them consider backing. Other manufacturers, such as BMW, fantasize with systems starring screens and with hardly any presence of physical buttons. This Euro NCAP requirement will put a certain brake on your plans. And it is that European legislation itself does not expressly prevent cars from dispensing with physical buttons. The Vehicle Homologation Regulation (EU 2019/2144) It forces manufacturers to meet certain standards in terms of usability and ergonomics of controls to avoid distractions, but does not specify that these standards pass through physical buttons. The obsession with the screens. On car manufacturers absolutely obsessed with converting their vehicles into tablets with wheels, We have been talking for five years. Already in 2019, manufacturers like Mazda They jumped against reducing the number of screens to avoid distractions and accidents, while the rest advanced towards more and more complex interfaces. Since then, it is more difficult to find a car that is not full of screens than one with a cleaner and more analog interior. The cars They are increasingly expensive and The trend is that they will continue to rise. Interestingly, consumers are every time more unhappy with new purchases. One of the main reasons has to do with the software. The manufacturers have found in it A new way of earning moneybut the bulk of users does not want to go beyond compatibility with Android Auto and Apple Carplay. The road of the industry by 2026, date on which Euro NCAP will begin to penalize cars without tactile controls, aims to be similar to the current one. Many screens, a lot of software (with subscription options and other payment services), and little presence of physical controls. Image | Tesla In Xataka | What screen with Android Auto for your car buy. Purchase guide with better recommendations and tips

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