FXE ETF

Union Pacific Corp said on Wednesday that Ferromex (FXE), the Mexican railroad it interchanges with, has resumed issuing permits for grain shuttle trains at the U.S.-Mexico border crossing at Eagle Pass, Texas.

The European Central Bank (ECB) has finally cut its key interest rate, marking the first reduction since September 2019.

The Euro has been rangebound since July 2023, but a break and significant move is setting up. The EU economy is showing signs of a weak turnaround, but growth projections remain subdued. The ECB's dovish shift and potential rate cuts could negatively impact the Euro.

The euro has experienced a bearish trend against the U.S. dollar since 2008, reaching a two-decade low in 2022 due to rising U.S. interest rates and the war in Ukraine. The euro has recovered since its 2022 lows, supported by a slowdown in U.S. interest rate hikes, warm European winter conditions, and a potential BRICS currency. Warming Chinese-European relations could weaken the U.S. position and boost the euro's value against the dollar, with the critical level for the currency pair being the January 2021 high of $1.2349.