United States dollar continues to decline against euro
13 January, 2018, 05:06 | Author: Sammy Rose
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.
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.
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Asia won the next two matches before Ross Fisher and Tyrrell Hatton levelled at Glenmarie Golf and Country Club. But Team Asia, led by Arjun Atwal, hit back by putting two points on the board in quick succession.
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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.
Run-off from heavy rain caused devastation in Santa Barbara County, with officials saying mud was waist-deep in some areas. On Tuesday, Winfrey's close friend and " CBS This Morning " co-host, Gayle King, said Winfrey is "intrigued by the idea".
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.
Variety also reports that Margot Robbie is being pursued to star alongside DiCaprio in the role of Sharon Tate . A deal for Tom Cruise to co-star is also being pursued, a part that was reportedly passed on by Brad Pitt .
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.
Tom Cotton , both Republicans , issued a joint statement Friday. "I have a wonderful relationship with Haitians! " he posted . Trump defended his " tough " rhetoric on immigration, but said he didn't say anything derogatory toward immigrants .
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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.
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Roberts said he knows he wasn't the only one scrambling for resources from Veteran Affairs, but unable to get any due to backlogs. Jackson will release a brief statement following the physical, White House Press Secretary Sarah Sanders said Thursday.