Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. Germany
  4. Xetra
  5. Deutsche Bank AG
  6. News
  7. Summary
    DBK   DE0005140008


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Deutsche Bank : Dollar surges to 2-month high on Fed rate-hike projection

06/17/2021 | 03:47pm EDT
FILE PHOTO: An employee counts U.S. dollar bills at a money exchange office in central Cairo

NEW YORK (Reuters) - The dollar jumped on Thursday and hit a two-month high against a basket of currencies, a day after U.S. Federal Reserve officials surprised markets by projecting a hike in interest rates and end to emergency bond-buying sooner than expected.

On Wednesday, Fed officials projected an accelerated timetable for rate increases, began talks on how to end emergency bond-buying, and said the COVID-19 pandemic was no longer a core constraint on U.S. commerce.

A majority of 11 Fed officials penciled in at least two quarter-point rate increases for 2023, adding they would keep policy supportive for now to encourage a labor market recovery.

The dollar index, which tracks the greenback against six major currencies, was up 0.53% at 91.892, its highest since mid April. On Wednesday, the dollar surged nearly 1%, its largest daily percentage gain since March 2020.

"Coming into the Fed meeting we felt there was a risk of a more hawkish outcome which could drive some USD strength if it came to happen," said Chuck Tomes, associate portfolio manager at Manulife Asset Management in Boston.

"Because of that, we did put some protection on in case of that happening," he said.

Still, Tomes said he sees the dollar rangebound to weaker over the longer term.

The Fed's new projection prompted some, including Goldman Sachs and Deutsche Bank, to abandon calls to short the dollar.

"We continue to forecast broad U.S. Dollar weakness, driven by the currency's high valuation and a broadening global economic recovery," analysts at Goldman Sachs wrote in a note on Wednesday.

"However, more hawkish Fed expectations and the ongoing tapering debate look likely to be a headwind to Dollar shorts over the near term," said the analysts, closing their recommendation to go long the euro against the dollar.

The Australian dollar - seen as a proxy for risk appetite - was down 0.72% at 0.75545, its lowest since April 1..

Australia also had upbeat data, with job creation beating expectations in May and unemployment diving to pre-pandemic lows.

The dollar was 0.77% higher against the Norwegian crown after Norway's central bank kept its key interest rate unchanged as expected, but said an increase was likely in September and steepened its trajectory of subsequent rate rises as the economy recovers from the effects of COVID-19.

The stronger dollar sent sterling below $1.40 to a fresh 5-week low.

Elsewhere, bitcoin was trading at $37,769.48, little changed on the day.

(Reporting by Elizabeth Howcroft; editing by John Stonestreet, Robert Birsel, Raissa Kasolowsky and David Gregorio)

By Saqib Iqbal Ahmed and Elizabeth Howcroft

ę Reuters 2021
All news about DEUTSCHE BANK AG
02:21pEXCLUSIVE : Thales poised to sell signaling unit to Hitachi for about $2 billion..
11:20aRESTAURANT BRANDS INTERNATIONAL : Deutsche Bank on Restaurant Brands' Q2 Up TP t..
09:52aSIMON PROPERTY : Deutsche Bank Adjusts Simon Property Group PT to $160 From $142..
09:44aMSCI : Deutsche Bank Adjusts MSCI Price Target to $650 From $600, Maintains Buy ..
09:44aDIGITAL REALTY TRUST : Deutsche Bank Adjusts Digital Realty Trust PT to $175 Fro..
08:55aZOOMINFO TECHNOLOGIES : Deutsche Bank Adjusts ZoomInfo Technologies PT to $60 Fr..
08:11aON SEMICONDUCTOR : Deutsche Bank Adjusts ON Semiconductor PT to $52 From $45 on ..
06:12aDEUTSCHE BANK : Earnings Document
06:11aDEUTSCHE BANK : Quartalsergebnisse Dokument
12:10aMARKET CHATTER : Credit Suisse May Raise Junior Banker Salaries
More news
Sales 2021 24 414 M 28 963 M 28 963 M
Net income 2021 1 616 M 1 917 M 1 917 M
Net cash 2021 53 490 M 63 456 M 63 456 M
P/E ratio 2021 12,3x
Yield 2021 1,74%
Capitalization 21 699 M 25 725 M 25 742 M
EV / Sales 2021 -1,30x
EV / Sales 2022 -1,62x
Nbr of Employees 83 797
Free-Float 92,8%
Duration : Period :
Deutsche Bank AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends DEUTSCHE BANK AG
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus UNDERPERFORM
Number of Analysts 25
Last Close Price 10,47 €
Average target price 11,28 €
Spread / Average Target 7,68%
EPS Revisions
Managers and Directors
Christian Sewing Chief Executive Officer
Karl von Rohr President
James von Moltke Chief Financial Officer
Paul Achleitner Chairman-Supervisory Board
Bernd Leukert Chief Technology, Data & Innovation Officer
Sector and Competitors