25, Feb 2026
Emmvee Clarifies No Impact from Recent U.S. Duty Developments
Bengaluru, Feb 25: In light of recent reports regarding countervailing duties imposed by the United States on solar imports from India, Emmvee Photovoltaic Power Limited has clarified that there is no impact on its business operations.
Emmvee’s integrated solar cell and module manufacturing operations are primarily aligned with domestic demand. With a strong focus on the Indian market and substantial domestic consumption of its solar cell output, the company remains insulated from external trade developments of this nature.
India continues to present significant long-term growth opportunities in renewable energy, supported by policy momentum and rising energy demand. Emmvee remains focused on scaling high-efficiency manufacturing capacity to serve the country’s expanding domestic solar market.
The company reaffirmed its commitment to strengthening India’s renewable energy ecosystem through advanced technology, robust manufacturing capabilities, and a continued emphasis on quality and performance.
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- By Neel Achary
25, Feb 2026
CHILTIER Unveils Climate-Control Hydro Vest, Opens Pre-Orders Before Kickstarter Launch
India, Feb 25: CHILTIER, a wearable climate technology company, announced the launch of its much-anticipated Hydro Vest, a thermoelectric personal cooling and heating system. The vest is designed to help users stay comfortable and safe in extreme weather conditions. With early pre-orders now open, the brand is gearing up for a global Kickstarter crowdfunding campaign.

Designed for motorcyclists, outdoor enthusiasts, field professionals, and individuals exposed to harsh climates daily, the Hydro Vest uses advanced Peltier-based thermoelectric technology to cool or heat the body within minutes. Unlike traditional cooling solutions that rely on ice packs, fans, or gel-based inserts, CHILTIER’s system actively regulates temperature through a closed-loop liquid circulation mechanism embedded within the vest.
The Hydro Vest maintains thermal comfort by circulating temperature-controlled liquid through thermally conductive tubing integrated into its inner lining. This helps stabilize core body temperature, reduce fatigue, and enhance endurance during prolonged rides, treks, outdoor work shifts, and adventure activities.
Recognizing varied user requirements, CHILTIER has introduced two configurations of the X1 and Z1 models. The X1 model can maintain unlimited run-time when connected to vehicle power and is designed for riders. Conversely, the Z1 model is fully portable (with a lightweight battery backpack) and can be operated for up to eight hours. Both models feature precision-adjustable temperature settings, lightweight materials quiet operation and water-resistant design for reliable performance in challenging environments.
As rising global temperatures and unpredictable climate patterns intensify the demand for portable thermal management solutions, CHILTIER aims to redefine personal comfort through wearable climate intelligence. The upcoming Kickstarter campaign is designed to create a community of early users, confirm the demand for this product, and support the initial production run.
Kulpreet Sahni, Founder and CEO, Chiltier, said,
“Our vision at CHILTIER is to make climate control as personal and intuitive as wearable technology itself. The Hydro Vest is not just about cooling or heating; it is about giving people control over their environment, enhancing safety, endurance, and performance in extreme conditions. With our Kickstarter launch, we are building a global community that believes wearable climate technology is the future of outdoor mobility and human resilience.”
Beyond the Hydro Vest, CHILTIER plans to expand its innovation roadmap through the development of the Thermo Pod, a scalable and modular platform intended to power a broader ecosystem of wearable climate-control products. Its adaptable architecture will enable integration with other wearable technologies, reinforcing CHILTIER’s long-term vision of intelligent personal thermal systems.
CHILTIER is currently inviting consumers worldwide to sign up for launch notifications and be among the first to access the Hydro Vest when the Kickstarter campaign goes live.
25, Feb 2026
Club Med Phuket Celebrates Holi Sundowner, Bringing India’s Spirit to Thailand
India, Feb 25: Club Med, leader in premium all-inclusive holidays for 75 years, is thrilled to announce that Club Med Phuket will transform its iconic beachfront into a high-energy celebration of Indian heritage. On 4th March 2026, the resort will invite international guests to experience the spirit of Holi through a vibrant sundowner, followed by a curated Indian gala dinner and an immersive party experience. This cross-cultural showcase is designed to bridge borders, uniting guests through the universal language of color, music, and festive joy.

Set along the pristine shores of Kata Beach, the festivities will unfold as a multi-experiential celebration capturing the true spirit of Holi which is spring, renewal, and unity.
The first highlight of the day will be a vibrant Grand Goûter & Color Battle at Coconut Garden. The Phuket team will introduce guests to the meaning of Holi, celebrating the arrival of spring and the spirit of togetherness. This will be followed by a coordinated countdown and collective colour-throw moment, creating a joyful and highly Instagrammable highlight against the stunning beachfront backdrop. Designed as a dry Holi experience, guests will play with organic, natural colour powders and fresh flowers, with safety measures thoughtfully in place to ensure a comfortable and enjoyable celebration for all.
As the sun sets, the festivities will transition into an Indian Flavors Dinner Experience at the resort’s main restaurant. Guests will indulge in a rich buffet complemented by live Indian cooking stations, showcasing authentic regional preparations. A decadent spread of traditional Indian desserts will complete the culinary journey, offering a wholesome immersion into the flavours of the festival.
The celebration will culminate in a high-energy Grand Indian Night Party, transforming the theatre or main bar area into a vibrant, Bollywood-inspired experience. Pulsating Indian beats, dynamic lighting, and spirited entertainment will invite guests to dance the night away, carrying the festive momentum into an unforgettable evening.
By bringing Indian cultural expression to Phuket through this vibrant, day-to-night celebration, Club Med continues to champion meaningful cultural exchange across its international properties creating immersive, joyful experiences that connect guests from around the world through shared celebration and cultural discovery.
25, Feb 2026
Securonix and AWS Launch Agentic Mesh with First Productivity-Based AI Model for SOC
India, Feb 25: Securonix, Inc., working closely with Amazon Web Services (AWS), today announced the Securonix Agentic Mesh and SAM, the AI SOC Analyst. The launch advances agentic AI for cybersecurity with a governed, explainable network of intelligent agents designed to elevate human analysts and measurably improve productivity across security operations.
The Securonix Agentic Mesh, built on AWS AgentCore, provides a unified orchestration layer for AI agents operating within the SOC. It enables AI-driven investigation and response while enforcing policy, governance, and human oversight.
Within the Agentic Mesh, SAM coordinates a modular set of AI agents optimized for specific operational tasks, including investigation context, search assistance, response preparation, noise reduction, and data pipeline optimization.
By orchestrating these agents together, the platform reduces alert fatigue, improves investigation consistency, and accelerates mean time to detection and response without sacrificing governance or visibility.
Analysts can review decisions, request deeper analysis, or pause actions to ensure AI remains transparent and accountable.
The announcement comes at a pivotal moment in the cybersecurity industry. According to the 2025 “Evolution of Cybersecurity Automation and AI Adoption” report, 97% of security leaders now consider automation business-critical, and 56% cite productivity as the top driver for adopting AI.
Introducing Productivity-Based AI Pricing for the SOC
As part of the launch, Securonix is introducing the cybersecurity industry’s first productivity-based AI pricing model. Rather than charging based on ingestion volume or seats, customers license SAM based on the amount of investigation work performed, measured in minutes of analyst time.
Usage is tracked in real time and visible within the Securonix platform, allowing security leaders to clearly see time saved, time billed, and operational impact. Each customer receives a baseline capacity, with the flexibility to expand in proportion to the value realized.
“At HDFC, we look for technology that strengthens our resilience and elevates our people. SAM delivers both. It gives our analysts a trusted partner working beside them at all hours and provides leadership with transparent, measurable AI value.”
said Sameer Ratolikar, Chief Information Security Officer, HDFC Bank
The Human-in-the-Loop SOC Operating Model
Agentic Mesh AI activity operates under Agentic Guardrails that enforce scope, policy, escalation rules, and separation of duties. Analysts interact with SAM through a guided interface where every decision includes step-by-step reasoning. Analysts can request deeper analysis, challenge findings, or pause actions for review, ensuring AI remains explainable, auditable, and aligned with organizational policy.
“We designed SAM and the Agentic Mesh to feel like a trusted teammate, not a black box,” said Kash Shaikh, CEO and President of Securonix. “With governed autonomy, a human-in-the-loop model, and transparent productivity metrics, we are giving security leaders a practical and accountable way to apply AI in the SOC.”
Built-In Governance and Secure Deployment
All AI operations are executed securely within the customer’s AWS environment. Every action taken by SAM or supporting agents is logged and auditable by design, supporting internal security reviews and external compliance requirements. The architecture aligns with Securonix responsible AI principles and ongoing ISO 42001 readiness efforts.
“AWS is proud to power the Securonix Agentic Mesh and SAM with AgentCore,” said Swami Sivasubramanian, Vice President of Data and AI at AWS. “Together, we are enabling customers to deploy scalable, explainable AI with trust and transparency at its core.”
Bridging the AI Fluency Gap in the SOC
Industry research continues to show that successful AI adoption depends as much on analyst readiness as on technology. To address this, Securonix is introducing the Agentic
Academy, a structured enablement program that helps SOC teams learn how to supervise, collaborate with, and derive value from AI-driven workflows.
The program focuses on practical interaction with SAM, interpretation of AI outputs, and effective human oversight to ensure AI-driven operations deliver sustained value.
Together, Agentic Mesh and SAM mark a shift from experimental AI to accountable, outcome-driven security operations.
25, Feb 2026
Excelsoft Cuts Infrastructure & Internet Costs with ‘Saras Assessments in a Box’
Feb 25: Excelsoft Technologies a global leader in digital learning and assessment solutions, today announced the launch of Saras Assessments in a Box, a compact, plug-and-play assessment appliance designed to enable secure digital examinations anywhere instantly.
Built using Saras Assessment, Excelsoft’s flagship platform, the device enables institutions to set up a fully functional, secure test centre in minutes, with or without internet connectivity. About the size of a matchbox, it eliminates the need for servers or complex IT infrastructure; users simply power it on, connect via Wi-Fi or LAN, and start delivering exams immediately. A single device supports 100+ concurrent candidates, ensuring high-performance exam delivery without bandwidth bottlenecks.
Speaking about the launch, Mr. Dhananjay Sudhanva, Chairman & Managing Director, Excelsoft Technologies, said,
“This marks a paradigm shift in how assessments are delivered. As examination scale increases and access expands, legacy, infrastructure-heavy models are proving inadequate. Saras Assessments in a Box fundamentally changes that equation by reducing the time and cost of setting up secure test centres while enabling a more resilient, inclusive, and reliable assessment experience for end users. Built on our Saras flagship assessment platform, it allows institutions to conduct exams consistently across diverse environments, including national and state-level entrance exams, university and college assessments, recruitment and certification programs, remote and rural initiatives, and temporary or emergency test centres.”
From a technology and architecture standpoint, the innovation reflects Excelsoft’s focus on building assessment systems designed for real-world conditions.
Speaking about the innovation, Mr. Adarsh Sudhindra, Chief Innovation Officer, Excelsoft Technologies, said,
“Assessment technology must be engineered for reliability at scale, not continuous connectivity. Saras Assessments in a Box introduces a distributed, appliance-led architecture that simplifies deployment while strengthening security and performance. By enabling exams to run locally yet remain centrally governed, institutions can conduct high-stakes assessments consistently across diverse environments without being constrained by infrastructure limitations. The solution is designed for a wide range of use cases, including national and state-level entrance examinations, university and college assessments, recruitment and certification programs, remote and rural assessment initiatives, corporate and skill-based testing, and temporary or emergency test centres.”
With this launch, Excelsoft Technologies continues to lead innovation in the assessment sector delivering solutions that simplify complexity, expand access, and enable secure, scalable, and resilient digital examinations anywhere in the world.
25, Feb 2026
Vinkesh Gulati Joins BARS as Founding Member, Calls for Citizen-Led Road Safety Movement

New Delhi: Reinforcing the urgent need for a unified and citizen-driven approach to road safety in India, Mr. Vinkesh Gulati has joined as a Founding Member of the Bharat Association of Road Safety Volunteers (BARS) and will serve as Vice Chairperson and President – Corporate Affairs. He is currently serving as Chairperson of the Automotive Skills Development Council.
Announcing his association with BARS, Mr. Gulati emphasized that road safety is not merely a policy discussion but a national responsibility that demands collective action, accountability, and sustained collaboration. He described the initiative as a people’s movement aimed at bringing together diverse stakeholders under one unified platform to reduce fragmentation and accelerate meaningful impact on road safety outcomes.
The Bharat Association of Road Safety Volunteers (BARS) has been envisioned as a collaborative forum that connects volunteers, industry leaders, policymakers, civil society organizations, and community stakeholders who are working tirelessly to save lives on India’s roads. By fostering transparency, collaboration, and accountability, BARS seeks to strengthen coordination among all road safety partners and create a structured approach to awareness, advocacy, and action.
Speaking on the occasion, Mr. Gulati expressed his gratitude to the founders and mentors of BARS for their trust and for providing him the opportunity to contribute to what he termed a “transformative journey.” He reiterated that improving road safety requires long-term commitment, strong governance mechanisms, and active public participation. “Road safety in India must evolve into a mass movement. It is not just about enforcement or infrastructure—it is about shared responsibility. Through BARS, we aim to build a transparent and collaborative ecosystem that delivers measurable outcomes and ensures accountability at every level,” he said.
With India facing significant challenges related to road accidents and fatalities, initiatives like BARS are expected to play a critical role in aligning efforts across sectors and driving sustained behavioral change.
BARS stands on three core pillars – Transparency, Collaboration, and Accountability – serving as guiding principles for its mission to make Indian roads safer for every citizen.
Echoing the spirit of collective commitment, Mr. Gulati concluded with a strong message: “Together we can. Together we will.”
25, Feb 2026
TOKYO SKYTREE Elevates Cherry Blossom Season with “THE Sakura SKYTREE” Spring Experience

Tokyo, Feb 25: Tobu Tower Skytree Co., Ltd. has announced the return of its seasonal spring event, “THE Sakura SKYTREE® – Going to Meet the Cherry Blossoms Above the Clouds,” at TOKYO SKYTREE. The limited-period experience will run from February 26 to April 14, 2026, offering visitors a reimagined cherry blossom celebration 350 metres above Tokyo.
Positioned around the theme “Sky × Sakura,” the event transforms the Tembo Deck (Floors 350 and 340) into a curated spring environment featuring cherry blossom décor and Japanese-inspired photo installations. Designed to evoke the fleeting beauty of sakura, the installation pairs seasonal symbolism with panoramic skyline views, creating a distinctive alternative to traditional park hanami.
Immersive Projection at SKYTREE ROUND THEATER®
A major highlight for evening visitors will be a special seasonal presentation at SKYTREE ROUND THEATER on Floor 350. The observatory’s expansive windows will convert into a panoramic projection surface for a three-minute visual narrative capturing the quiet poetry and transience of cherry blossoms.
Powered by 24 projectors and immersive surround sound from 13 speakers, the presentation integrates culture, technology, and storytelling within one of Tokyo’s most iconic landmarks, adding a theatrical dimension to the spring viewing experience.
Limited-Edition Sakura Café Menu
Complementing the visual programming, the SKYTREE CAFE on Floor 350 will introduce a limited-edition cherry blossom-themed menu. Offerings include both alcoholic and non-alcoholic beverages, alongside spring-inspired sweets crafted to be visually striking and share-worthy.
Featured items include plant-based, vegan, and gluten-free donuts in “Sakura Mochi” and “Sakura Sky Vanilla” flavours. The menu aligns with growing demand for inclusive and aesthetically engaging culinary experiences at landmark attractions.
W1SH RIBBON Installation and Seasonal Illumination
Extending the spring theme, the W1SH RIBBON monument on the Tembo Deck will feature limited-edition pink ribbons throughout the event period. Visitors can tie their wishes against a softly illuminated pink installation symbolising renewal and new beginnings. The monument lighting will also transition to pink to ensure cohesive visual continuity across the deck.
On select evenings, TOKYO SKYTREE will be illuminated in a special spring lighting display titled “Sakura SKY (Sakura-Sora).” Inspired by cherry blossoms blooming against a vast spring sky, intersecting beams of soft pink light will symbolise petals dancing in the wind, transforming the tower into a seasonal beacon across Tokyo’s skyline.
A New Perspective on Hanami
With immersive décor, projection mapping, curated gastronomy, and city-scale illumination, “THE Sakura SKYTREE®” positions TOKYO SKYTREE as a compelling addition to Japan’s spring travel calendar. By blending tradition with contemporary presentation at 350 metres above ground, the event offers an atmospheric, accessible, and distinctly urban interpretation of cherry blossom season.
25, Feb 2026
When things have to be done quickly
Rail brakes support fast roller changes in laminating units

SAUERESSIG has evolved from being a manufacturer of printing and embossing rollers to becoming a highly innovative machine manufacturer with a diverse product range.
In a large laminating unit by SAUERESSIG Engineering for laminating steel strip on both sides, rubber rollers press a protective PET film onto hot steel strip. Despite cooling, these rubber rollers do wear down and need to be replaced regularly. Four profiled rail brakes by mayr® power transmission ensure that the laminating process, which takes place 24 hours a day, only has to be interrupted briefly to replace the rollers.
SAUERESSIG began manufacturing printing and embossing rollers for the packaging and printing industry around 70 years ago. Today, the company is a highly innovative mechanical engineering company with a diverse portfolio. As a leading full-range supplier of calendering, embossing and rotary processing systems in standard and special designs, the company supplies a wide range of industries.
The machine solutions include both complete production lines and customized systems for embossing, finishing, coating, smoothing, perforating and calibrating sheet materials such as paper, film or metal sheets. The company offers comprehensive expertise from the initial idea to the final customized solution, including planning and designing mechanics, drive and automation technology, pre-assembly and commissioning in the factory, and final approval at the customer’s premises.

SAUERESSIG’s large laminating unit coats both sides of the steel strip with a protective PET film
One such customized system, no less than six metres long and around four metres wide, coats a steel strip on both sides with a thin protective PET film. Harald Bartsch, Head of Design/Expert Advisor at SAUERESSIG Engineering, describes the machine’s design concept as follows “The complete laminating unit consists of two nearly identical, symmetrically arranged side frames, each with a rubberized laminating roller and a contact cooling roller. For laminating, the steel strip moves vertically between the two laminating rollers through the laminating unit at a conveying speed of up to 250 m/min. The laminating rollers press the film onto the hot steel strip from both sides.”
The steel strip’s high temperatures of up to 260 °C heat up the rubber coating on the laminating rollers. Water-cooled contact rollers dissipate this heat and limit the rubber coating’s temperature to a maximum of 90 °C. Despite the cooling, the rubber linings of the laminating rollers are subject to wear and must be replaced regularly. “As the laminating process should ideally be running continuously all year round and 24/7 without interruption,” explains Harald Bartsch, “the time required to replace the laminating rollers must be kept as short as possible. Therefore, the laminating unit is designed in such a way that the automated roller replacement only takes half an hour.”
The laminating unit consists of two symmetrically arranged side frames. Both side frames are mounted onto profiled rail guides and can be separated axially to replace the worn laminating rollers. While the coating process is in progress, profiled rail brake of the ROBA® guidestop® series by mayr® power transmission hold the two system parts in position backlash-free and with high rigidity. To replace the rollers, these safety brakes are released hydraulically, the two machine halves can be moved apart via rack and pinion gears and the laminating rollers can be replaced.

Profiled rail brake of the ROBA® guidestop® series by mayr® power transmission hold the two system parts of a large laminating unit in position backlash-free and with high rigidity.
The ROBA® guidestop® profiled rail brake serves as a reliable safety brake and backlash-free clamping unit. It can brake movements safely and quickly and clamps the axes rigidly and backlash-free.
Just like all safety brakes by mayr®power transmission, the profiled rail brakes also work according to the fail-safe principle. This means they are closed in de-energised condition. The ROBA® guidestop® brakes use pre-tensioned cup springs to press the brake shoes against the ‘waist’ of the profiled rail, thus clamping it in place.
The hydraulic brake design used in the SAUERESSIG laminating unit is released using a nominal pressure of 70 bar. This is comparatively low in relation to the very high holding forces. The brake mechanism is dimensioned for relatively large strokes. As a result, the brake can compensate for production tolerances on the profiled rails without losing braking force. The ROBA® guidestop® safety brakes are equipped with two independent brake circuits: This allows for either double holding forces or a redundant design.
The profiled rail brakes are therefore directly mounted onto the masses which are to be braked or held. This minimises the risk of hazards, particularly with gravity-loaded axles, as drive elements between the motor and the moving mass, such as spindles, spindle nuts, shaft couplings and gears, do not affect safety. This is different for concepts with motor brakes, as all drive elements must transmit the braking torque to the carriage. Furthermore, every element between the brake and the carriage has a negative effect on rigidity. ROBA® guidestop® safety brakes are therefore considerably more rigid than motor brakes, rod brakes or band brakes, which are often subject to backlash.
ROBA® guidestop® safety brakes by mayr® power transmission are available in pneumatic or electromagnetic versions in addition to the hydraulically opening design. The hydraulically releasing ROBA® guidestop® series covers nominal holding forces from 5000 to 34000 N with four sizes. The pneumatically releasing version offers the greatest variety of options: Six sizes with nominal holding forces from 700 to 15000 N are available in the standard product range. Both versions (i.e. pneumatically and hydraulically releasing) are available for all common linear guides. Electromagnetically opening rail brakes do not require any pneumatic or hydraulic equipment. mayr® power transmission developes this variant on request, customizing it for the respective application.
25, Feb 2026
Mr. Harsh Pawar wins Gold in 3D Digital Game Art at IndiaSkills Regional Competition; and Ms. Samruddhi Thombre secures full-time role with Galleri5

Mumbai, Feb 25: Arena Animation, a pioneer in animation, gaming, visual effects, and digital media education and a training brand of Aptech Limited, announced a dual milestone for its Nashik centre, a gold medal win at the regional round of the IndiaSkills Competition 2026 and a significant industry placement with Galleri5.
Mr. Harsh Pawar, student of Arena Animation, secured the Gold Medal in the 3D Digital Game Art category at the regional competition organised by the National Skill Development Corporation (NSDC). The competition was held in Gandhinagar, and it brought together top talent competing across advanced skill categories aligned to global standards. His victory underscores the strength of structured, industry-relevant training and reinforces Arena Animation’s growing presence on nationally validated competitive platforms.
Speaking on the occasion, Mr. Sandip Weling, Chief Business Officer, Global Retail, Aptech Limited, and Brand Custodian, Arena Animation said,
“The achievements of students are an outcome of the discipline, industry-aligned learning, and a mindset of excellence nurtured at Arena Animation. Our focus is to go beyond classroom training—building the competitive capability, creative confidence, and career resilience of all our students. As the Orange Economy continues to emerge and bloom as a powerful driver of growth, innovation, and employability in India, we are proud to play a catalytic role in equipping today’s young talent with skills that power the next phase of growth.”
Adding to the centre’s achievements, student Ms. Samruddhi Thombre has secured full-time employment with Galleri5 as an AI Cinematic Artist, marking a significant step in her professional journey. Her success reflects resilience and her laser-sharp focus. Determined to build a career in animation, she navigated challenges with clarity and conviction, often stating she “had no option but to succeed.”
Mr. Harsh Pawar, Gold Medalist (3D Digital Game Art) at IndiaSkills shared his reaction,
“Winning Gold at the IndiaSkills regional round is more than just a personal milestone; it’s a validation of the hours spent refining every polygon and texture under the guidance of my mentors at Arena. The competition in Gandhinagar was intense and truly mirrored global standards. This win has given me the confidence to know that my creative skills aren’t just a hobby-they are world-class. I’m now focused on carrying this momentum to the nationals.”
Ms. Samruddhi Thombre, who secured a placement at Galleri5, said
“I’ve always believed that in the creative industry, your portfolio is your passport, but your mindset is your engine. When I started my journey at Arena Nashik, I told myself I had no option but to succeed. Securing this placement at Galleri5 is the culmination of that ‘all-in’ approach. It feels incredible to transition from the classroom to a professional studio, and I’m eager to contribute to the industry I’ve spent so much time studying. For me, this is just the beginning of a lifelong career in animation.”
Together, these accomplishments highlight Arena Animation’s commitment to developing industry-ready professionals through skills-first training, hands-on exposure, and continuous mentorship. The institute remains focused on empowering students to transform creative passion into competitive excellence and sustainable career growth.
25, Feb 2026
EUR/USD Remains Under Pressure as the USD Maintains Its Advantage on Growth and Interest Rate Differentials
By Linh Tran, Market Analyst at XS.com
EUR/USD has continued its downward trend since peaking around 1.2080 at the end of January, as the divergence in economic prospects between the United States and the Eurozone has become increasingly evident. This movement reflects the current macroeconomic landscape, where the US dollar remains supported by relatively stable growth and inflation that is still above target, while the Eurozone faces slower expansion and lacks sufficient policy momentum to trigger a meaningful shift in expectations.
Recent US economic data suggest that growth has moderated but has not deteriorated significantly. GDP expanded by only 1.4% year-on-year in the fourth quarter, a notable slowdown from the 4.4% recorded in the third quarter, partly reflecting the impact of a prolonged government shutdown that disrupted public spending and investment. Nevertheless, for the full year 2025, the US economy still grew by 2.2%, its lowest pace since 2020 but sufficient to avoid a broad-based recession.
While growth has cooled, inflationary pressures have not fully subsided. Core PCE remained around 3.0% year-on-year, well above the Federal Reserve’s 2% target, forcing the central bank to maintain a cautious stance. At the same time, the US trade deficit in goods and services widened to approximately $901.5 billion in 2025, among the highest levels since records began in 1960, highlighting structural imbalances in external trade. However, with inflation still above target, the Fed’s primary policy focus remains price stability rather than growth stimulus.
The combination of slower but still positive growth and persistent inflation makes it difficult for the Fed to signal an early easing cycle. The “higher for longer” narrative continues to gain traction, keeping US Treasury yields relatively attractive compared to Europe. This yield differential remains a key factor supporting the US dollar and weighing on the euro.
On the other hand, the Eurozone has posted modest growth. The region’s GDP rose by 0.3% quarter-on-quarter in Q4 2025 and approximately 1.5% for the full year. Although the February Flash Composite PMI improved to 51.9 from 51.3 the previous month, indicating a mild expansion in overall activity, the pace of improvement remains insufficient to significantly alter expectations for ECB policy. In an environment of fragile growth, the ECB has less room to maintain a hawkish stance compared to the Fed.
In my view, the near-term outlook for EUR/USD will largely revolve around the policy divergence between the Fed and the ECB. With US policy rates still considerably higher than those in the Eurozone and core US inflation hovering around 3%, the Fed is unlikely to ease policy soon. Conversely, Eurozone inflation has eased to around 1.7% while growth remains modest, giving the ECB limited incentive to maintain a restrictive stance.
Under the base-case scenario, where US growth continues to slow but avoids a sharp downturn and inflation declines only gradually, the US dollar is likely to retain its relative advantage through yield differentials. The euro may only stage a sustained recovery if US economic data weaken sufficiently to push the Fed toward earlier-than-expected rate cuts. For now, the macro balance continues to tilt slightly in favor of the dollar, leaving EUR/USD more prone to sustained pressure than a decisive reversal.