XTRACKERS II USD OVERN.RATE SWAP UE 1C WKN: DBX0A0 ISIN: LU0321465469 Kürzel: DXSZ Forum: Fonds Thema: Hauptdiskussion

https://www.staradvertiser.com/2026/02/03/breaking-news/house-passes-bill-to-reopen-government-sending-it-to-trump/

President Trump picked Kevin Warsh to be the next chairman of the Federal Reserve, choosing a former Fed official who has aligned himself with the president’s criticism of the central bank. Some market participants see Warsh as a relatively safe option, given his Fed experience and his track record as an inflation hawk. That could make him more resistant to calls from the administration to slash interest rates. President Trump said Warsh didn't commit to cutting interest rates in an interview for the job, but he added "he certainly wants to cut rates." The announcement helped the dollar and hammered precious metals Friday.

The dollar’s slide to its lowest level in years has renewed fears about America’s pre-eminent position in global markets, spurred conflicting statements from the White House and shifted the math behind everything from international travel to U.S. corporate profits to European furniture exports.

https://www.wsj.com/finance/currencies/what-the-slide-in-the-dollar-means-for-trade-travel-and-investment-ef02816d

https://investinglive.com/centralbank/ecb-policymakers-are-starting-to-get-uneasy-as-eurusd-crosses-120-20260128/

Äußerungen von US-Präsident Donald Trump schicken den Dollar auf Talfahrt geschickt. Anleger werteten seine gleichgültige Haltung zum jüngsten Kursverfall als grünes Licht für weitere Verkäufe. "Dem Dollar geht es großartig", sagte Trump auf die Frage eines Journalisten, ob der Dollar zu stark gefallen sei. "Devisenmarkt-Teilnehmer sind immer auf der Suche nach einem Trend, auf den sie aufspringen können", sagte Steve Englander, Währungsexperte bei Standard Chartered. "Wenn der Präsident Gleichgültigkeit äußert oder die Bewegung sogar gutheißt, ermutigt das Dollar-Verkäufer, weiter Druck zu machen." An den asiatischen Börsen sorge die Entwicklung für gemischte Kurse. Während der südkoreanische Kospi auf ein Rekordhoch klettert, gibt der japanische Nikkei-Index nach.

Fed’s Fractured Vote Signals Trouble for Future Rate Cuts President Trump wants lower rates and a new Fed chair. Wednesday’s divisions suggest one won’t guarantee the other.

"Officials are fractured over which poses the greater threat—persistent inflation or a sluggish labor market—and even a resumption of official economic data may not bridge the differences." ---- https://www.wsj.com/economy/central-banking/the-fed-is-increasingly-torn-over-a-december-rate-cut-48a26aad

"For the third time in his tenure, Powell is attempting the delicate maneuver of cutting rates not because a recession appears imminent, but rather to prevent one. His 2019 effort was interrupted by the pandemic before its effectiveness could be judged. Last year, the labor market steadied itself, but a decline in inflation stalled this year amid rising prices that could reflect the effects of large tariff increases by Trump." ---- https://www.wsj.com/economy/central-banking/federal-reserve-jerome-powell-rate-cut-0df13920

Kleine Portion eingekauft für 175,77 bei USD 1,1739

"There are good reasons to think the Federal Reserve would be preparing to cut interest rates this week due to recent improvements on inflation—if not for the risk that tariffs pose to prices. -- Instead, Fed officials are on track to extend their wait-and-see posture on Wednesday. -- Fed officials at their meeting will be assessing how the economy handles the initial months of historically large tariff hikes. The last three months’ inflation readings have been mild. Still, officials are worried over how tariff announcements since March could disrupt what economists refer to as “inflation expectations.” ---- https://www.wsj.com/economy/central-banking/fed-meeting-interest-rate-cut-inflation-27bbf5cb

Die US-Zinsen werden wohl mittelfristig höher bleiben als in EUR ----- https://www.tagesschau.de/wirtschaft/weltwirtschaft/trump-anleihen-usa-staatsverschuldung-100.html ---- Bei einem Dollarkurs ab 1,10 wäre der Swap hier schon interessant gegenüber der sicherlich übersichtlicheren EUR-Variante DBX0AN