ECB: Managing Risks to Growth

Economic

Central Bank

Summary:

We continue to agree with market pricing following the ECB’s latest rate cut, but see additional downside risks to growth post-U.S. election.

The European Central Bank (ECB) cut the deposit facility rate by 25 basis points to 3% at its December meeting, while its new staff projections – including inaugural 2027 estimates – now see inflation settling around target from Q4 2025 onwards. The rate cut makes sense in the context of weak growth and inflation projected to be at target next year (which supports a policy rate closer to neutral).

From a risk management perspective, with the policy rate at a still restrictive level of 3%, the ECB can potentially address any upside shocks through a slower pace of rate reductions going forward, while this latest rate cut may offer additional protection against downside risks. The ECB restated that decisions will remain on a meeting-by-meeting basis, and the data flow over the coming months will decide the speed and scale of monetary easing at future meetings.

Given uncertainty around the neutral policy range and still too high domestic inflation, the ECB is likely to continue moving policy rates towards neutral in a gradual fashion. Market pricing of a terminal rate of around 1.75% for the second half of next year remains broadly consistent with our estimates for a neutral policy rate for the euro area, and essentially represents a benign soft landing scenario. ECB President Christine Lagarde suggested a potential neutral range of 1.75%-2.5%.

While the rates market has more-or-less priced a cutting cycle in line with the ECB’s benign outlook, we see additional downside risks to growth following the U.S. election. As a result, we believe European duration offers reasonably priced downside mitigation, and we are currently overweight. As for the European interest rate curve, we continue to expect the back end of the interest rate curve to underperform shorter maturities due to rate cuts and rebuilding term premia.

A weak macroeconomic backdrop

We believe growth will continue to be weaker than the ECB is projecting. While hard data has been holding up better, surveys suggest that the euro area economy is broadly stagnating. Having hovered around 50 in recent months, the euro area composite purchasing managers' index (PMI) fell sharply in November, by around 2 points to 48.3. The most notable drop was in services, down 2.1 points to 49.5, putting it below 50 for the first time since early this year.

More broadly, incoming data increasingly raises the question of what might drive the projected economic expansion, as none of the demand components (consumption, investment or exports) have yet shown the strengthening the ECB expects. Particular question marks surround ECB staff projections for consumption-led economic growth, given the data is pointing to a substantial increase in the saving rate instead. Furthermore, the trade surpluses some member states, like Germany, run with the U.S. will likely face tariff challenges under the incoming U.S. administration, posing additional downside risks to growth. We believe growth will continue to be weaker than the ECB is projecting.

With regard to price developments, realized inflation remains above target, but stagnant economic growth, and fresh signs of a weakening labor market, should increase confidence that inflation is returning to target. Preliminary euro area inflation rose to 2.3% in November, driven by a moderation in the fall in energy prices and an increase in food inflation. Core inflation stood unchanged at 2.7%. Services inflation remains the biggest contributor to inflation, and stood at 3.9% in November, driven in part by recent high wage growth, which appears set to cool moving forward.

New staff projections

The latest staff projections, including inaugural 2027 numbers, show inflation at target from late 2025 onwards. For inflation to evolve in line with ECB expectations and durably converge to target, wage growth falling back to levels that are broadly consistent with 2% inflation remains the most important prerequisite. According to the new projections, the ECB expects growth in compensation per employee to average 3.3% in 2025, 2.9% in 2026 and 2.8% in 2027.

Wage moderation is key, even more so as productivity might turn out weaker than currently anticipated. Negotiated euro area wage growth picked up sharply in the third quarter, by 1.9% to 5.4% year over year. This was driven by volatility in German data, although given this was due to one-off delayed and backdated payments, it is unlikely to worry the ECB too much. The rest of the euro area was broadly stable.

More importantly, surveys point to slowing employment growth and a further moderation in the demand for labour. In addition, various forward-looking ECB surveys and wage trackers suggest a deceleration in wage growth, and the most recent wage negotiations in Germany were weaker than expected, increasing the ECB’s confidence that wage growth is going to decline in line with the projections.

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PEW

Economic

About half (54%) of U.S. adults say they know a great deal or a fair amount about personal finances. Another 33% say they know some about personal finances, while 13% say they don’t know much or know nothing at all, according to a 2023 Pew Research Center survey.

How we did this

Financial literacy has been associated with greater financial well-being. There have long been economic gaps between Americans of different backgrounds, and our survey also finds gaps in financial literacy:

Americans in households with upper incomes (72%) are more likely than those in households with middle (56%) or lower incomes (42%) to say they know at least a fair amount about personal finances.White adults (58%) are more likely than Black (50%) or Hispanic (41%) adults to say they know a great deal or fair amount. About half of Asian adults (49%) say the same. These differences by race remain regardless of income.Adults ages 50 and older (63%) are more likely than those 18 to 49 (45%) to say they are knowledgeable about personal finances.

On the other hand, about one-in-five Americans with lower incomes (22%) say they don’t know much or know nothing at all about personal finances. That’s a notably higher share than among those with upper incomes (4%). About a quarter of Hispanic adults (27%) say the same, higher than among Asian (17%), Black (14%) or White adults (8%).

Money management skills

U.S. adults have mixed confidence in their ability to perform various financial skills.

Most Americans (75%) say they are extremely or very confident in their ability to find their credit report. Smaller majorities say the same about creating a monthly budget to manage their finances (59%), creating a plan to pay off debt (57%) or saving money (56%).

By contrast, just 27% express confidence in their ability to create an investment plan to build wealth.

Americans’ confidence in these skills varies by income, race and age:

U.S. adults with upper incomes are more likely than those with middle or lower incomes to say they are confident in their ability to do each of these things.White adults are more likely than Black, Hispanic or Asian adults to say they are confident they can find their credit report, create a monthly budget and create a plan to pay off debt.Adults ages 50 and older are more likely than those 18 to 49 to have confidence in their ability to do each task except create an investment plan. Across age groups, similarly small shares express confidence they can do that.

In addition, about one-in-five U.S. adults (21%) are confident in their ability to execute every financial skill we asked about. Americans with upper incomes (40%) are more likely to say this than those with middle (20%) or lower incomes (13%).

Meanwhile, 13% of Americans are not confident in their ability to do any of these money management skills. Hispanic (21%), Asian (21%) and Black adults (17%) are more likely than White adults (8%) to say this. And 22% of those with lower incomes say this, compared with fewer than 10% of those with middle or upper incomes (9% and 5% respectively).

Roughly Half of Americans are Knowledgeable about Personal Finances_3

Where do Americans learn about personal finances?

In recent years, more experts have called for greater financial education during high school to help students prepare for their futures. Relatively few Americans have learned about this in school, our survey finds.

Among U.S. adults who are knowledgeable about personal finances, 49% say they learned a great deal or a fair amount about personal finances from family and friends. That is the highest share for any source we asked about. About a third or fewer learned about personal finances from other sources such as:

The internet (33%)College or university (27%)Media such as the news, documentaries or books (24%)K-12 schools (19%)

Learning about personal finances from family and friends is a relatively common experience across all major demographic subgroups. But there are notable differences for some other sources.

Internet

Asian adults (64%) are more likely than Hispanic (48%), Black (42%) or White adults (26%) to say they learned a great deal or a fair amount about personal finances from the internet.Adults ages 18 to 49 are more likely than those 50 and older to have learned about personal finances from the internet (50% vs. 19%).

Media

Asian (45%), Hispanic (36%) and Black adults (34%) are all more likely than White adults (19%) to have learned about personal finances from media.Younger adults are more likely than older adults to have learned about personal finances from media (29% vs. 21%).

K-12 schools

Adults with lower incomes (29%) are more likely than those with middle (18%) or upper incomes (10%) to say they learned about personal finances from K-12 schools.

To stay updated on all economic events of today, please check out our Economic calendar

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FOREX.com

Economic

Commodity

Gold technical analysis and key levels to watch

There is little doubt in our minds about the long-term gold outlook, even if the short-term direction looks somewhat murky. In fact, a short-term correction will make gold more attractive again after its big rally in 2024. A correction or continued consolidation will also help some of the longer-term momentum indicators such as the monthly Relative Strength Index (RSI) to work off their “overbought” conditions. Once some froth is removed, we will then be on the lookout for a strong bullish signal to emerge as prices near some of the potentially key support levels that we are monitoring.

Key levels and trades to monitor on gold

$2,075-$2,080: This range marks a key support zone on multiple long-term time frames, which served as major resistance between 2020 and 2023 and could act as a strong floor if prices retreat significantly. A drop to around this area would likely attract buyers who missed out on gold’s 2024 rally, reinforcing its long-term bullish outlook.

Of course, gold may not dip that deep to reach the abovementioned $2,075-$2,080 range, before it starts it next leg up. If we instead witness only a modest retracement, which is what we expect, followed by some consolidative price action, such that gold forms a long-term continuation pattern, then in that case we would look for a breakout strategy to turn tactically bullish on gold again.

$2,500: This is an additional support area we are monitoring with the 200-day moving average sitting about $25 below it.

$2,700 is the most significant near-term resistance level to watch in 2025, where the resistance trend of the potential bull flag pattern meets prior resistance. A clean break above here could target the 2024 high of $2,790.

$3,000 is the next big psychological level to watch should prices break to a new high in 2025. Expect at least some profit-taking around here.

Putting it all together

The 2025 gold outlook is shaped by a complex interplay of macroeconomic, geopolitical, and technical factors. While the early part of the year may present challenges, the metal’s long-term fundamentals remain strong. Inflationary pressures, central bank buying, and geopolitical uncertainties continue to support gold’s role as a strategic asset in diversified portfolios.

For professional investors and retail traders alike, navigating the gold market in 2025 will require a balanced approach. Monitoring key economic indicators, currency movements, and geopolitical developments will be essential for identifying opportunities and managing risks. With a cautious start expected, patient investors could see gold regain its shine, ultimately pushing toward the coveted $3,000 mark.

To stay updated on all economic events of today, please check out our Economic calendar

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Glendon

Economic

In the world of trading, understanding market volume is crucial for making informed decisions. While many traders rely on traditional volume indicators, the Tick Volume Indicator has emerged as a popular tool for assessing market activity. This article delves into what the Tick Volume Indicator is, how it works, and how traders can use it to enhance their strategies.

What Is the Tick Volume Indicator?

The Tick Volume Indicator measures the number of price changes or "ticks" that occur within a specific timeframe. Unlike actual volume, which records the number of contracts or shares traded, tick volume represents the frequency of price movements. This makes it particularly useful in markets like forex, where actual volume data is not always available due to the decentralized nature of trading.

How Does Tick Volume Differ from Actual Volume?

Understanding the distinction between tick volume and actual volume is key to utilizing this indicator effectively:

Actual Volume: Represents the total number of units traded within a specific timeframe. This data is common in stock and futures markets but less accessible in forex.

Tick Volume: Captures the number of price changes within the same timeframe. While it does not measure the actual quantity traded, it often correlates strongly with market activity.

Why Use the Tick Volume Indicator?

The Tick Volume Indicator offers several benefits:

Market Activity Insight: It provides a snapshot of market activity, helping traders identify periods of high and low participation.

Trend Confirmation: High tick volume during price movements can validate trends, while low tick volume may signal weak or uncertain trends.

Divergence Detection: By comparing tick volume with price action, traders can spot potential reversals or continuations.

How to Interpret the Tick Volume Indicator

To make the most of the Tick Volume Indicator, traders must understand its key interpretations:

High Tick Volume: Indicates strong market interest and can signal the start or continuation of a trend.

Low Tick Volume: Suggests reduced activity, which may lead to price consolidation or a lack of trend direction.

Volume Spikes: Sudden increases in tick volume often precede significant price movements, offering potential entry or exit points.

Strategies for Using the Tick Volume Indicator

Here are practical ways to incorporate the Tick Volume Indicator into your trading strategy:

Trend Confirmation: Combine tick volume with trend indicators like moving averages or RSI to validate the strength of a trend.

Breakout Trading: Use tick volume spikes to identify potential breakouts from key support and resistance levels.

Divergence Analysis: Compare tick volume trends with price action to detect potential reversals or continuations.

Risk Management: Monitor tick volume to gauge market conditions and adjust your risk accordingly. High volume often accompanies volatile movements, requiring tighter risk controls.

Limitations of the Tick Volume Indicator

While the Tick Volume Indicator is a valuable tool, it has limitations:

No Actual Volume Data: It does not reflect the actual number of units traded, which may lead to misinterpretations in certain scenarios.

Broker Dependency: Tick volume data can vary between brokers, affecting accuracy and consistency.

Lagging Nature: Like most indicators, it may lag behind price action, making it less effective for real-time decisions.

Conclusion

The Tick Volume Indicator is a versatile tool that provides valuable insights into market activity, especially in markets like forex where actual volume data is unavailable. By understanding its nuances and integrating it with other indicators, traders can gain a deeper understanding of market dynamics and make more informed decisions. However, it is essential to be aware of its limitations and use it as part of a broader strategy.

To stay updated on all economic events of today, please check out our Economic calendar

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Glendon

Economic

Forex trading is an exciting and potentially profitable venture, but it comes with its costs. One of the common charges traders face when engaging in forex transactions is the commission fee. While many brokers offer commission-free trading, others charge a commission based on the volume of trades. Understanding why forex brokers charge these fees is essential for traders to make informed decisions about their costs and potential profitability.

What Are Forex Commission Fees?

A commission fee in forex trading is the amount a broker charges for facilitating a trade. Unlike the spread (the difference between the bid and ask price), the commission is a fixed or variable cost applied to the trade size. This fee is typically calculated per lot or per transaction and is separate from any spread or other fees that might apply.

Why Do Forex Brokers Charge Commission Fees?

There are several reasons why forex brokers impose commission fees on traders:

To Cover Operational Costs

Brokers incur various operational costs to maintain their platforms, process transactions, and provide customer support. Charging a commission fee helps them offset these expenses and keep their services running smoothly.

To Offer Tight Spreads

One reason some brokers charge a commission is that it allows them to offer tighter spreads. Tighter spreads mean there is less of a gap between the buying and selling price of a currency pair, which can benefit traders looking for low transaction costs. By charging a commission, brokers can lower the spread and create more attractive conditions for active traders.

To Provide Transparency

In a commission-based model, the cost of trading is clear and upfront. Unlike brokers who incorporate the cost into the spread, commission-based brokers ensure there are no hidden fees. This transparency allows traders to make more accurate cost-benefit analyses before placing trades.

To Compete in a Crowded Market

With a growing number of forex brokers in the market, competition is fierce. Offering a commission-based model can be a way for brokers to differentiate themselves from those offering wider spreads or higher fees. A competitive commission structure can attract traders who value transparency and lower costs.

To Accommodate High-Volume Traders

High-frequency traders or those who engage in large-volume trades may prefer commission-based pricing. Since commissions are often fixed or calculated based on volume, this pricing model can be more cost-effective for traders who make numerous trades. Brokers benefit by accommodating this type of trader, who generates substantial revenue through frequent transactions.

How Commission Fees Impact Your Trading Costs

While commission fees offer transparency, they can still impact a trader's overall profitability. Understanding how these fees affect your trading is important:

Higher Trading Costs for Low-Volume Traders:

For traders who do not engage in large trades, commission fees can become a significant cost. In such cases, the total cost of trading may end up being higher than trading with brokers that offer wider spreads but no commissions.

Cost Efficiency for Active Traders:

High-volume traders often benefit from commission-based models because the cost per trade can be lower than the total cost of trading with brokers who have high spreads. For frequent traders, commissions provide predictable costs, enabling more effective cost management.

Impact on Profit Margins:

Commissions can erode profits, especially in highly competitive markets. For small traders or those with tight margins, paying commission fees can reduce overall profitability. It’s essential to calculate the full cost of trading, including commissions, when assessing potential returns.

How to Minimize the Impact of Commission Fees

To minimize the effect of commission fees on your profitability, consider these strategies:

Choose the Right Broker:

Look for a broker that offers commission-free trading if you don’t plan to trade large volumes. Alternatively, if you are a high-volume trader, commission-based brokers with low rates may be more advantageous.

Consider Trading Volume:

If you're a frequent trader, a commission-based broker may work in your favor by offering low fees per transaction. For occasional traders, a broker with no commissions might be more cost-effective.

Factor in Total Trading Costs:

Always calculate the total trading cost, including both the spread and commissions, before choosing a broker. Understanding these costs helps you evaluate whether the broker offers competitive pricing relative to its services.

Conclusion

Forex brokers charge commission fees as a way to cover operational costs, offer competitive spreads, maintain transparency, and attract high-volume traders. While these fees can impact trading costs, understanding when and why they apply can help you choose the right broker for your trading style and goals. Whether you are a low-volume trader or an active participant in the forex market, it’s essential to factor in commission fees when evaluating the overall cost of your trading activities.

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Glendon

Economic

In recent years, forex trading robots, or Expert Advisors (EAs), have become increasingly popular among traders seeking automation and consistency in the fast-paced forex market. These software programs are designed to assist traders by automatically executing trades based on predetermined criteria, reducing the need for manual intervention. But how exactly do forex trading robots work, and are they effective in enhancing trading performance?

What Are Forex Trading Robots?

A forex trading robot is an automated software application that uses complex algorithms to analyze the forex market, execute trades, and manage positions without the need for human involvement. These robots operate on platforms like MetaTrader 4 (MT4) or MetaTrader 5 (MT5) and can be customized to follow a wide variety of strategies. Typically, they rely on technical indicators, such as moving averages, RSI, or MACD, to make decisions on when to buy, sell, or hold a position.

Forex trading robots promise several benefits, including the ability to trade 24/7, remove emotional bias from trading decisions, and automate trading strategies that would otherwise be time-consuming to implement manually. However, before jumping into using a trading robot, it's crucial to understand how they work and what they offer.

How Do Forex Trading Robots Work?

The core function of a forex trading robot is to follow predefined rules for market entry, trade management, and exit. These rules are usually based on technical analysis, such as price trends, market patterns, and momentum indicators. Here's a closer look at how forex trading robots typically operate:

Market Analysis: Forex trading robots constantly analyze the forex market using algorithms and technical indicators. These indicators help identify trends, support and resistance levels, and potential entry points. Robots can also process large amounts of data faster than humans, enabling them to spot trading opportunities in real-time. Commonly used indicators include moving averages, Relative Strength Index (RSI), and Bollinger Bands.

Trade Execution: Once the robot identifies a trade opportunity based on its analysis, it automatically executes the trade on behalf of the trader. This can include opening new positions, setting stop-loss and take-profit levels, and adjusting trades as necessary. The robot operates without human intervention, ensuring that trades are executed promptly, even in volatile market conditions.

Risk Management: Effective risk management is an essential feature of most forex trading robots. These bots are programmed to apply stop-loss orders, take-profit targets, and even trailing stops to limit potential losses and lock in profits. The robot's risk management tools are designed to protect traders from significant drawdowns while allowing them to capitalize on market movements.

Backtesting: Before being deployed in live markets, forex robots are often backtested using historical data to assess their effectiveness. This process helps traders evaluate the robot's performance in different market conditions and fine-tune its settings. Backtesting is an essential step, as it allows traders to assess whether the robot's strategy is sound and if it can deliver the expected results.

Advantages of Using Forex Trading Robots

Forex trading robots offer several advantages, especially for traders seeking a more automated approach to trading:

24/7 Trading: Forex trading operates around the clock, and forex robots are designed to trade 24/7. This ensures that opportunities are never missed, even when the trader is not actively monitoring the market. The robot works through different time zones and can seize opportunities while the trader sleeps or attends to other responsibilities.

Emotion-Free Trading: One of the biggest challenges in forex trading is emotional decision-making. Fear, greed, and impatience can lead to impulsive decisions and poor trade management. Forex robots follow their programmed rules without emotional bias, making them more consistent and objective than human traders.

Consistency and Efficiency: Forex robots can execute trades with precision, ensuring that every trade is based on the same set of rules. This consistency helps avoid the mistakes that can arise from human error, such as missed trades, incorrect stop-loss placement, or delayed orders. Additionally, the speed at which robots execute trades can be beneficial in a fast-moving market.

Backtesting and Optimization: Forex robots can be backtested on historical data, which helps traders evaluate how well the robot would have performed in the past. By adjusting settings and optimizing parameters, traders can fine-tune the robot's strategy to improve its future performance.

Disadvantages and Limitations of Forex Trading Robots

While forex trading robots offer several benefits, they also have limitations that traders should consider:

Market Conditions Change: Forex robots are programmed based on historical data and predefined rules, which means they may struggle in changing market conditions. Robots that perform well in trending markets may not work as effectively during sideways or highly volatile conditions. Moreover, they cannot adapt to fundamental events like news releases or geopolitical shifts that affect currency prices.

Algorithmic Limitations: A forex robot’s performance is only as good as the algorithm behind it. Poorly designed algorithms or those that aren’t well-optimized can lead to significant losses. It's crucial to thoroughly test and evaluate the robot before using it in live trading.

Over-Reliance on Automation: While automation can be beneficial, it’s essential for traders to monitor their robots regularly. Over-relying on a robot without oversight can lead to unexpected losses, especially if market conditions change rapidly or the robot encounters an error.

Costs: Many forex robots come with upfront costs or subscription fees. Some may require ongoing payments for updates or access to premium features. These costs should be factored into the trader's overall profitability when evaluating whether a forex robot is worth using.

Are Forex Trading Robots Worth It?

Forex trading robots can be highly effective tools for automating trading strategies and reducing the time spent on market analysis. They are particularly useful for traders who cannot dedicate significant time to monitoring the markets or for those looking to remove emotional biases from their decision-making process. However, it’s important to carefully evaluate the robot’s algorithm, backtest it, and remain involved in its performance to ensure that it aligns with your trading goals.

Before integrating a trading robot into your strategy, take time to research, test, and understand how the robot works. Ultimately, while robots can enhance trading efficiency, they should not replace a well-rounded trading strategy and active market analysis.

Conclusion

Forex trading robots provide traders with the opportunity to automate their strategies and take advantage of the forex market 24/7. They can be an excellent tool for those looking to reduce emotional trading, increase efficiency, and improve consistency. However, like any trading tool, they come with risks and limitations that should be carefully considered before use. Whether you are a beginner or an experienced trader, understanding how forex trading robots work is essential to make informed decisions about their place in your trading strategy.

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Risk Warnings and Disclaimers

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Justin

Economic

The world is not currently on track to achieve the Paris agreement’s goals. Emissions are continuing to rise, future emissions are forecast to be higher than the carbon budget consistent with limiting climate change to 1.5 degrees Celsius and fossil fuel production is expected to further increase given current policies.

Global warming increases the severity and frequency of tropical storms, reduces agricultural productivity especially in the tropics, increases the incidence, morbidity and mortality of many infectious diseases and, by raising sea levels, threatens the existence of low-lying countries such as Kiribati. According to the World Bank, global warming may also push an additional 132m people into poverty.

Significant investment is required to adapt to climate change. This investment is needed in a wide range of areas including infrastructure resilience projects such as seawalls, climate-smart agricultural programmes, such as developing drought-resistant crops, and ecosystem restoration, such as restoring wetlands.

There is a significant finance adaptation gap. Adaptation investment stood at just $63bn in 2021-22, which is far below the $212bn needed per annum by 2030 for adaptation investment in developing countries alone. This investment is dominated by the public sector, with private sector financing making up just 2% of tracked adaptation investment. Going forward, increased private sector financing will be needed to assist countries, businesses and communities adapt to climate change.

The limited private investment in tracked adaptation financing was reflected in interviews with pension funds and sovereign funds as part of OMFIF’s Transition Finance Working Group. None of these funds had set explicit targets for investment in adaptation, nor did they have adaptation investment strategies in place. In addition, only one fund explicitly mentioned that it had a plan to focus more on adaptation financing.

Five steps for global funds

Going forward, pension and sovereign funds could consider five steps to ratchet up their adaptation financing.

First, funds should consider how they will define, measure and report investment in adaptation. This may involve actively engaging with existing initiatives such as the Adaptation and Resilience Investors Collaborative, which has published a report providing a clear, consistent and robust framework for measuring the impact of investments on adaptation and resilience. It may also involve funds integrating this framework into their internal and external reporting processes.

Second, funds should consider setting explicit targets for investment in adaptation. This would mirror the approach taken by some sovereign funds and pension funds that have set explicit targets for mitigation financing.

Third, funds may wish to actively engage with the companies that they are invested in to ensure that they are well-placed to take advantage of increased demand for adaptation solutions. For example, have agricultural products companies fully considered future demand for drought-resistant crops? Are construction companies well placed to profit from future demand for seawalls and other flood defences?

Fourth, given that some climate change adaptation investments may have broad societal benefits but limited financial returns, pension funds and sovereign funds may need to work with concessional financiers and governments to ensure that adaption investments offer the risk-adjusted returns necessary to attract private capital. A key reform in this area may be further developing risk-tolerant structures whereby concessional financiers assume initial losses when co-investing with pension funds and sovereign funds.

Fifth, given that there is an urgent need for adaptation investment in small island developing states, which have small populations and economies, many projects may be too small to attract larger sovereign funds and pension funds, and financial mechanisms may need to be developed to pool investments across numerous jurisdictions.

In conclusion, there is an urgent need for increased investment in adaptation. Going forward sovereign funds and pension funds could undertake further work to define, measure and report adaptation investments, set explicit targets for investment in adaptation and increase blended and pooled financing of adaptation.

Source:Daniel Wilde

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Risk Warnings and Disclaimers

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Education

Data

ECB: Managing Risks to Growth

A weak macroeconomic backdrop

New staff projections

Roughly Half of Americans are Knowledgeable about Personal Finances

How we did this

Money management skills

Where do Americans learn about personal finances?

2025 Gold Technical Outlook Preview

Gold technical analysis and key levels to watch

Key levels and trades to monitor on gold

Putting it all together

Tick Volume Indicator: What It Is and How to Use It

What Is the Tick Volume Indicator?

How Does Tick Volume Differ from Actual Volume?

Why Use the Tick Volume Indicator?

How to Interpret the Tick Volume Indicator

Strategies for Using the Tick Volume Indicator

Limitations of the Tick Volume Indicator

Conclusion

Why Forex Brokers Charge Commission Fees

What Are Forex Commission Fees?

Why Do Forex Brokers Charge Commission Fees?

To Cover Operational Costs

To Offer Tight Spreads

To Provide Transparency

To Compete in a Crowded Market

To Accommodate High-Volume Traders

How Commission Fees Impact Your Trading Costs

Higher Trading Costs for Low-Volume Traders:

Cost Efficiency for Active Traders:

Impact on Profit Margins:

How to Minimize the Impact of Commission Fees

Choose the Right Broker:

Consider Trading Volume:

Factor in Total Trading Costs:

Conclusion

How Do Forex Trading Robots Work

What Are Forex Trading Robots?

How Do Forex Trading Robots Work?

Advantages of Using Forex Trading Robots

Disadvantages and Limitations of Forex Trading Robots

Are Forex Trading Robots Worth It?

Conclusion

How to Finance the Adaptation Gap

Five steps for global funds

Source:Daniel Wilde

Risk Disclosure