United States dollar continues to decline against euro

13 January, 2018, 05:06 | Author: Sammy Rose
  • DailyFX US AM Digest US Dollar at Three Year Low versus the Euro

The pan-European FTSEurofirst 300 index lost 0.26 percent and MSCI's gauge of stocks across the globe gained 0.38 percent. The dollar index, which measures the greenback against six rival currencies, was down 0.5 percent at 91.78, after falling to a almost one-week low 91.808.The greenback extended losses after data showed US producer prices fell for the first time in almost 1-1/2 years in December amid declining costs for services.

The dollar index was down by 0.05% to 91.81 as of 11.57am Shanghai time. Spain's IBEX 35 edged up 0.1% to 10,435.20.

The news of progress towards a German coalition pushed the euro to a three-year high.

European bond yields were also driven higher by minutes on Thursday of the ECB's December meeting that showed it thinks it should revisit its communication stance in early 2018. The council's next meeting is January 25.

Meanwhile, a number of retail stocks were punished after trading updates, including Danish jeweler Pandora A/S and Britain's Marks & Spencer PLC.

"We all know that the European Central Bank tapering is coming but now it's about the timing, and yesterday's minutes suggested there's a growing dissent among European Central Bank members about waiting too long", said ING currency strategist Petr Krpata in London.

DailyFX US AM Digest US Dollar at Three Year Low versus the Euro

The news that Europe's biggest economy could end political uncertainty after a September 2017 election delivered a hung parliament boosted the euro and pushed investors away from safe haven German bonds. As for the eurozone, the minutes stated that the economy was displaying "continued robust and increasingly self-sustaining economic expansion". It also said its Ebitda margin is expected to be 37.3%, versus its full-year guidance of 38%. Later on Friday, the United States is expected to release its December inflation data, which the market will use to form its rate hike forecasts.

Tesco PLC (TSCO.LN) (TSCO.LN) fell 4.3%.

GKN (GKN.LN) shares rallied 26% as the engineering group said it's rejected an offer approach from Melrose Industries PLC (http://www.marketwatch.com/story/gkn-rejects-offer-approach-from-melrose-industries-2018-01-12-34853836)(MRO.LN). France's CAC 40 rose 0.3 percent to 5,502. "Our checks have been mixed for 4Q and we see some risk of a bump in the road for S/4 HANA [platform] migration", wrote analyst Adam Wood in a research note.

USD/CAD is supported at 1.2478 levels and is trading at 1.2526 levels.

The shared currency has risen roughly 0.8% against the greenback this week. Output was up 3.2% on the year, Eurostat said. Relative to policies that would have been pursued under the alternative "Jamaica" coalition between Merkel, the FDP and the Greens, which foundered when the FDP walked out of such talks in November, Germany will apparently add a bit more to social spending over time and close down its coal power stations at a slower pace. Economists polled by The Wall Street Journal projected slightly higher growth of 2.3%. Yet it still suggested consumer spending had made a sizeable contribution to economic growth for the fourth quarter as a whole, after a disappointing third quarter.

Honoring Dr. Martin Luther King, Jr
Schools are out Monday January 15 in observance of Martin Luther King Day but there's still plenty to do. "Today we celebrate Dr. This summer, Ellis retired after serving 38 years in the House of Representatives.

Deepak Malik fires India to big win in Blind Cricket WC opener
India's refusal to travel to Pakistan for the World Cup forced the organisers to shift their matches to UAE. For India , Venkateshwara Rao scored a half century.

Detective Pikachu 3DS Game Comes to the West this March
Nintendo will release the New 2DS XL Pikachu Edition in North America on January 26 for $159.99, the company announced . After almost two years of waiting, hoping, and plenty of memes, Detective Pikachu is finally getting a Western release.



Dakar 2018 Stage 5 Results
However, like every time, weather and climate played spoilsport as the Dakar Rally entered its Bolivian leg. They lead second-placed Carlos Sainz and Lucas Cruz, also from Peugeot Total, by 31 minutes and 16 seconds.

Coordinator watch: Bears waiting on Vic Fangio
Hiestand returned to the Bears after stints at the University of Tennessee (2010-11) and Notre Dame (2012-17). Fangio re-signed Friday and will continue to lead a defense he helped transform the past three seasons.

Logan Paul Punished by YouTube for Controversial Video
On Tuesday, Jan. 9, YouTube said that Paul's channel violated its community guidelines and it will have consequences. "Like many others, we were upset by the video that was shared last week", the statement continues.

Celebrate the First 'Pokemon GO' Community Day on January 20th
Each Community Day will have other bonuses, such as increased XP and Stardust, or Lure Modules that last for a full three hours. The first Pokemon to feature for Community Day will be Pikachu, and his event move will be Surf .

'Thor: Ragnarok' gag reel is the funniest thing of the day!
Meanwhile, fans can watch the antics of director Taika Watiti in the film's gag reel that has made its way to the internet. Unstoppable Women: Hela & Valkyrie - Hela and Valkyrie's origins in the comics and their places in the MCU are explored.

Revenue Estimates Analysis Bank of America Corporation (BAC)
The stock of Bank of America Corporation (NYSE:BAC) has "Hold" rating given on Tuesday, July 18 by BMO Capital Markets. Finally, Altavista Wealth Management Inc. raised its stake in shares of Bank of America by 0.7% in the second quarter.

Analyst Stock Ratings: Marathon Patent Group, Inc. (MARA), Avinger, Inc. (AVGR)
A high P/E suggests that investors are expecting higher earnings growth in the future compared to companies with a lower P/E. The High Revenue estimate is predicted as 5000, while the Low Revenue Estimate prediction stands at 5000.

Family slams TV series on Versace murder
We'll just have to tune in when " American Crime Story: The Assassination of Gianni Versace " premieres January 17 to judge for ourselves.

Due To Injury, Paige's WWE In-Ring Career Is Over
Born to a pair of British pro wrestlers, Paige has been involved in the professional wrestling business nearly all her life. I hope that she can remain with the company in some capacity, either as a General Manager, or perhaps a trainer in NXT .

Acquires 2000 Shares of Walt Disney Co (DIS)
Westwood Holdings Group Inc decreased Northwestern Corp stake by 1.02 million shares to 41,465 valued at $2.36 million in 2017Q3. Consolidated Investment Group Llc sold 50,000 shares as the company's stock declined 10.34% while stock markets rallied.