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Currency markets were generally quiet ahead of the U.S. Federal Reserve meeting, which ends on Wednesday. This is bound to be a point of discussion at next week’s Bank of England meeting,” wrote Marshall Gittler, head of investment research at BDSwiss, in a note to clients. REOPENING DELAYThe pound was unaffected by news that the UK is set to delay its reopening from COVID-19 lockdown restrictions by one month due to the rapid spread of the more infectious Delta variant. Most restrictions were due to lift on June 21, but this much-anticipated step was pushed back to July 19. Sterling was also unaffected by news on Tuesday that the UK said it had agreed a trade deal with Australia.
Persons: payrolls, , , Marshall Gittler, Lee Hardman, , Sterling, Elizabeth Howcroft, Giles Elgood Organizations: ., U.S . Federal Reserve, week’s Bank of England, of, ING, Australia Locations: London, BDSwiss, of England’s, COVID
Most other emerging Asian currencies traded flat to slightly lower as the U.S. dollar held steady and Treasury yields recovered from three-month lows ahead of a much anticipated Federal Reserve meeting. The Monetary Authority of Singapore on Monday released a survey which forecast the country's 2021 gross domestic product to expand more than expected. In the Philippines, the peso fell 0.4% to a more than two-week low and was set for its worst day since Feb. 25 after President Rodrigo Duterte extended restrictions on Monday. The U.S. central bank could shed more light on its next policy steps, including when it will begin tapering its bond buying programme and tighten ultra-easy monetary settings. The Indonesian rupiah lost 0.3% as it continued to hand back some recent gains before a Bank Indonesia (BI) meeting on Thursday.
Persons: Shashwat Awasthi, Rodrigo Duterte, Nicholas Mapa, Mapa, Shashwat, Simon Cameron, Moore Organizations: U.S ., Monetary Authority of Singapore, Monday, ING, U.S, U.S . Federal, Bank Indonesia, Singapore STI, Singapore Exchange, Thai Beverage, Trust, FX Locations: Singapore, Philippine, Philippines, U.S ., U.S, Manila, Indonesia's, Asia, Japan, China, India, Indonesia, Malaysia, Taiwan, Thailand, Bengaluru
The peso slid as much as 0.4% to a more than two-week low and was on track for its worst day since April 7. Stocks in Manila, which have rallied more than 4% so far this month, gave up 0.2%. The Philippines has the second highest number of infections and casualties in Southeast Asia after Indonesia and finds its healthcare sector stretched as it battles rising cases. The U.S. dollar held steady on Tuesday and U.S. Treasury yields recovered from three-month lows, leading most emerging Asian currencies to trade roughly flat to slightly lower. Among regional stock markets, Singapore's FTSE Strait Times Index stood out with a 0.8% gain.
Persons: Shashwat Awasthi, Rodrigo Duterte, Nicholas Mapa, Shashwat, Simon Cameron, Moore Organizations: ING, U.S, U.S . Federal, Treasury, Bank, FTSE, Times, Monetary Authority of Singapore, Monday, Singapore STI, Singapore Exchange, DBS Group, Trust, FX Locations: Singapore, Philippine, Manila, Stocks, Philippines, Southeast Asia, Indonesia, U.S ., U.S, Bank Indonesia, Asia, Japan, China, India, Malaysia, Taiwan, Thailand, Bengaluru
Oil rises as threat recedes of Iran supply resuming soon
  + stars: | 2021-06-15 | by ( Aaron Sheldrick | ) www.reuters.com sentiment -1.00   time to read: +2 min
An employee demonstrates a sample of crude oil in the Yarakta Oil Field, owned by Irkutsk Oil Company (INK), in Irkutsk Region, Russia in this picture illustration taken March 11, 2019. Brent crude was up by 17 cents, or 0.2%, at $73.03 a barrel by 0347 GMT, having risen 0.2% on Monday. U.S. oil gained 15 cents, or 0.2%, to $71.03 a barrel, having slipped 3 cents in the previous session. It is "looking increasingly unlikely that we will see the U.S. rejoin the Iranian nuclear deal before the Iranian presidential elections later this week," ING Economics said in a note. "Daily technical indicators are currently pointing to crude oil in overbought territory and a pullback may be due," said Avtar Sandu, senior manager commodities at Phillip Futures.
Persons: Vasily Fedosenko, Brent, Avtar Sandu Organizations: Irkutsk Oil Company, REUTERS, European Union, ING, Organization of Petroleum Exporting, Phillip Futures, Investors, U.S . Federal Reserve, Thomson Locations: Irkutsk Region, Russia, Iran, United States, Tehran, . U.S, Vienna, U.S, OPEC
Oil gains as risk of Iran supply resumption recedes
  + stars: | 2021-06-15 | by ( Aaron Sheldrick | ) www.reuters.com sentiment -1.00   time to read: +2 min
An employee demonstrates a sample of crude oil in the Yarakta Oil Field, owned by Irkutsk Oil Company (INK), in Irkutsk Region, Russia in this picture illustration taken March 11, 2019. Brent crude was up by 38 cents, or 0.5%, at $73.24 a barrel by 0651 GMT, having risen 0.2% on Monday. U.S. oil gained 33 cents, or 0.5%, to $71.21 a barrel, having slipped 3 cents in the previous session. It is "looking increasingly unlikely that we will see the U.S. rejoin the Iranian nuclear deal before the Iranian presidential elections later this week," ING Economics said in a note. "Daily technical indicators are currently pointing to crude oil in overbought territory and a pullback may be due," said Avtar Sandu, senior manager commodities at Phillip Futures.
Persons: Vasily Fedosenko, Brent, Avtar Sandu Organizations: Irkutsk Oil Company, REUTERS, European Union, ING, Organization of Petroleum Exporting, Phillip Futures, Investors, Federal Reserve, Thomson Locations: Irkutsk Region, Russia, Iran, United States, Tehran, . U.S, Vienna, U.S, OPEC
Oil rises as threat of immediate Iran supply recedes
  + stars: | 2021-06-15 | by ( ) www.cnbc.com sentiment -0.98   time to read: +1 min
Cranes at an oil industry support facility in Port Fourchon, Louisiana, U.S., on Wednesday, April 21, 2021. Oil prices rose on Tuesday, with Brent gaining for a fourth consecutive session, as the prospect of extra supply coming to the market soon from Iran faded with talks dragging on over the United States rejoining a nuclear agreement with Tehran. U.S. oil gained 41 cents, or 0.6%, to $71.29 a barrel, having slipped 3 cents in the previous session. It is "looking increasingly unlikely that we will see the U.S. rejoin the Iranian nuclear deal before the Iranian Presidential Elections later this week," ING Economics said in a note. "Additional supply from OPEC+ will be needed over the second half of this year, with demand expected to continue its recovery," ING said.
Persons: Brent, Russia — Organizations: European Union, ING, Organization of Petroleum Exporting, U.S . drillers, U.S . Energy, Administration Locations: Port Fourchon , Louisiana, U.S, Iran, United States, Tehran, . U.S, Vienna, Russia, OPEC
UPDATE 1-Sterling takes British reopening delay in its stride
  + stars: | 2021-06-14 | by ( Reuters Staff | ) www.reuters.com sentiment -0.91   time to read: +2 min
Prime Minister Boris Johnson is expected to announce a delay of four weeks to his February roadmap, under which his government signalled that all social restrictions to control the spread of the disease would be lifted “no earlier” than June 21. Sterling, which has been one of the best performing currencies in 2021 as investors bet on a strong British economic rebound, hovered just below recent highs. The euro was 0.2% stronger against the pound at 85.96 pence , still stuck within the range of the past two months. ING analysts said a delay to the easing of restrictions was expected and investors were more focused on economic data. Britain’s relatively rapid COVID-19 vaccination rollout and signs of a strong economic rebound have bolstered sterling in recent months and encouraged investors to bring forward their expectations for some limited monetary tightening.
Persons: Sterling, Boris Johnson, , Andrew Bailey, Tommy Wilkes, Alexander Smith, David Goodman Organizations: LONDON, Sterling, ING, Bank of England Locations: Britain, COVID
UPDATE 2-Sterling takes British reopening delay in its stride
  + stars: | 2021-06-14 | by ( Tommy Wilkes | Joice Alves | ) www.reuters.com sentiment -0.94   time to read: +2 min
Sterling, which has been one of the best performing currencies in 2021 as investors bet on a strong British economic rebound, hovered just below recent highs. The euro was 0.15% stronger against the pound at 85.90 pence , still stuck within the range of the past two months. ING analysts said a delay to the easing of restrictions was expected and investors were more focused on economic data. Speaking on Monday, Bank of England (BoE) Governor Andrew Bailey said managing nearly a trillion pounds ($1.4 trillion) of British government bond purchases would be a huge challenge for the central bank. Britain’s relatively rapid COVID-19 vaccination rollout and signs of a strong economic rebound have bolstered sterling in recent months and encouraged investors to bring forward their expectations for some limited monetary tightening.
Persons: Sterling, Boris Johnson, , BoE, Andrew Bailey, Tommy Wilkes, Joice Alves, Goodman, Alex Richardson Organizations: Sterling, ING, Bank of England Locations: Britain, COVID
PRECIOUS-Gold slides over 1% on dollar strength as Fed meeting looms
  + stars: | 2021-06-14 | by ( Arundhati Sarkar | ) www.reuters.com sentiment -1.00   time to read: +2 min
Spot gold was down 1.1% to $1,856.30 per ounce by 0908 GMT, after hitting its lowest since May 19 at $1,854.39. Along with a stronger dollar, profit-taking is weighing on the metal, said independent analyst Ross Norman, adding that the market was seeing a bit of book squaring ahead of the Fed’s June 15-16 meeting. “The Fed is expected to leave policy unchanged and again play down taper talk,” ING analysts said in a note. “Nonetheless, markets will be looking for hints on whether the Fed is starting to acknowledge that inflation may not be as transitory as thought. Elsewhere, silver fell 0.7% to $27.69 per ounce, palladium dropped 0.6% to $2,759.04, and platinum dipped 0.4% to $1,145.83.
Persons: Ross Norman, ” Norman, Arundhati Sarkar, Subhranshu Sahu Organizations: U.S, ING Locations: U.S . Federal, U.S, Bengaluru
This backdrop has supported euro zone bond markets in recent days, allowing yields to fall further. Its 10-year bond yield touched 0.74% , its lowest level in almost eight weeks, before steadying around 0.75%. Most 10-year bond yields in the euro area were steady with Tuesday’s two-day meeting of the U.S. Federal Reserve providing another reason for subdued trading across markets. Germany’s benchmark 10-year bond yield was flat on the day at -0.27%. “The key point is that new EU bonds will provide investors with a liquid alternative,” said Lidia Treiber, director, research at WisdomTree Asset Management.
Persons: Christine Lagarde, , Antoine Bouvet, Lidia Treiber Organizations: European Central Bank, Politico, ECB, ING, U.S . Federal Reserve, European Union, EU, WisdomTree Asset Management Locations: Italy
This backdrop has supported euro zone bond markets in recent days, allowing yields to fall further. Its 10-year bond yield touched 0.74% on Monday , its lowest level in almost eight weeks, before recovering some ground. Most 10-year bond yields in the euro area edged up just slightly with Tuesday’s two-day meeting of the U.S. Federal Reserve providing another reason for subdued trading across markets. Germany’s benchmark 10-year bond yield was up 1.4 bps on the day at -0.254%. Greece’s 5-year bond yield fell below zero to -0.012% at one point - its lowest since Nov. 13.
Persons: Christine Lagarde, , , Antoine Bouvet, Greece’s, Lidia Treiber Organizations: LONDON, ECB, European Central Bank, Politico, ING, U.S . Federal Reserve, European Union, WisdomTree Asset Management, EU Locations: Italy
Sterling takes British reopening delay in its stride
  + stars: | 2021-06-14 | by ( Reuters Staff | ) www.reuters.com sentiment -0.93   time to read: +2 min
Sterling, which has been one of the best performing currencies in 2021 as investors bet on a strong British economic rebound, hovered just below recent highs. Against the dollar it dipped 0.1% to $1.4093, while the euro was 0.2% stronger versus the pound at 85.94 pence . ING analysts said the delay was expected and that investors were more focused on economic data. Britain’s relatively rapid COVID-19 vaccination rollout and signs of a strong economic rebound have bolstered sterling in recent months and encouraged investors to bring forward their expectations for some limited monetary tightening. The BoE gathers for its next policy meeting on June 24.
Persons: Sterling, Boris Johnson, , Andrew Bailey, BoE, Tommy Wilkes, Alexander Smith Organizations: Britain, Sterling, ING, Bank of England Locations: COVID
Thailand denies blocking exports of AstraZeneca vaccines
  + stars: | 2021-06-13 | by ( ) www.reuters.com sentiment -0.99   time to read: +1 min
A health worker prepares a dose of AstraZeneca COVID-19 vaccine against the coronavirus disease (COVID-19) as Thailand start mass inoculation at a gymnasium inside Siam Paragon shopping centre, Bangkok, Thailand June 7, 2021. REUTERS/Soe Zeya TunThailand is not blocking exports of the AstraZeneca vaccine, a government representative said, after Taiwan said Thailand was keeping for itself doses of the vaccine that it is producing. Taiwan President Tsai Ing-wen said on Friday Taiwan had ordered 10 million doses from AstraZeneca (AZN.L) , which was mainly producing them in Thailand, but Thailand was "giving priority for vaccines to be used in Thailand". read more"Thailand is not blocking exports of AstraZeneca,” deputy government spokesperson Traisuree Taisaranakul said on Twitter late on Saturday. Both Thailand and Taiwan have seen a surge of coronavirus cases in recent week after months of successfully keeping their outbreaks in check.
Persons: Soe Zeya, Tsai Ing, Traisuree Taisaranakul Organizations: AstraZeneca COVID, Paragon, REUTERS, AstraZeneca, Taiwan, Twitter, Siam Bioscience, Thomson Locations: Thailand, Bangkok, Taiwan, Siam, Philippines, Malaysia, Southeast Asia
Russia raises key rate to 5.5%, flags more hikes to curb inflation
  + stars: | 2021-06-11 | by ( Andrey Ostroukh | ) www.reuters.com sentiment -1.00   time to read: +2 min
MOSCOW (Reuters) -Russia’s central bank raised its key interest rate by 50 basis points to 5.5% on Friday and said more hikes would be needed to rein in high inflation. FILE PHOTO: A woman sells fruit and vegetables in a street in the far northern city of Vorkuta, Russia September 16, 2018. Analysts polled by Reuters had forecast the key rate would rise from 5% to 5.5%, its highest since April 2020. The central bank, which has warned inflation is set to speed up further, said increased inflationary pressures pointed to “the necessity of further increases in the key rate at the upcoming meetings”. “Based on the wording, the range of the most likely key rate ceiling for this year has shifted from 5.5-6.0% to 6.0-6.5%,” ING analysts said.
Persons: Eduard Korniyenko, Elvira Nabiullina, Organizations: REUTERS, Reuters, ” Citi, ” ING Locations: MOSCOW, Vorkuta, Russia
IEA sees OPEC+ spare capacity gaining slightly in 2022
  + stars: | 2021-06-11 | by ( ) www.reuters.com sentiment -1.00   time to read: +2 min
REUTERS/Dado Ruvic/File PhotoThe International Energy Agency expects spare capacity in the OPEC+ alliance to rise by 180,000 barrels per day (bpd) next year to 50.55 million bpd, driven by hikes from Mideast Gulf producers. Capacity is expected to slip for some West African producers, IEA data shows. The IEA anticipates the call on OPEC+ crude to rise by 1.2 million bpd to 43.3 million bpd next year. For the fourth quarters of this year and next, however, the agency expects the figure to rise to 44 million bpd. "OPEC+ effective spare capacity (excluding shut-in Iranian crude) in 2021 would fall to 5 million bpd in the fourth quarter but in 2022 it could stand at 5.1 million bpd given the planned capacity expansions," the IEA said.
Persons: Dado Organizations: REUTERS, International Energy Agency, Mideast Gulf, Organization of, Petroleum Export, West, IEA, ING, Thomson Locations: OPEC, Saudi Arabia, Kuwait, UAE, Iraq, Russia
Asia stocks up, U.S. bond yields down as inflation fears ease
  + stars: | 2021-06-11 | by ( Andrew Galbraith | ) www.reuters.com + 0.00   time to read: +4 min
SHANGHAI (Reuters) - U.S. bond yields dipped to three-month lows and a broad gauge of Asian shares rose on Friday as investors looked past rising U.S. consumer prices and focused on one off-factors which suggested higher inflation could be short-lived. Data overnight showed the U.S. consumer price index posted its biggest year-on-year increase since August 2008 at 5%, following a 4.2% rise in April. “But the Fed, which meets next week, can still point to no deviation of inflation expectations to back up its continued mantra of transitory inflation. The 10-year U.S. Treasury note’s yield dipped to a three-month low of 1.4340%, down from Thursday’s close of 1.459%. Hopes for stronger economic demand following the U.S. unemployment claims report lifted oil prices to two-year highs on Thursday.
Persons: Kim Kyung, DAX, , Rob Carnell, Seoul’s, Larry Hu Organizations: REUTERS, Federal, European Central Bank, . Labor Department, Japan’s Nikkei, ING, Macquarie, Dow Jones, Nasdaq, Treasury, Brent, U.S . West Texas Locations: SHANGHAI, Tokyo, Japan, U.S, Asia, Pacific, Singapore, China, Hong Kong, Thursday’s
In morning trade in Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.18%. “But the Fed, which meets next week, can still point to no deviation of inflation expectations to back up its continued mantra of transitory inflation. “Because of very strong external demand the negative impact from credit deceleration should be OK in the next three to six months, mainly thanks to the strong demand from the U.S.,” said Larry Hu, economist at Macquarie in Hong Kong. The spread between the 2-year and 10-year yield also hit its narrowest level since late February, as inflation expectations eased. Hopes for strong economic demand following the U.S. unemployment claims report lifted oil prices to two-year highs on Thursday.
Persons: , Rob Carnell, Seoul’s Kospi, Larry Hu Organizations: Nikkei, . Labor Department, Japan, Japan’s Nikkei, ING, Macquarie, Dow Jones, Nasdaq, Treasury, Brent, U.S . West Texas Locations: Asia, Japan, SHANGHAI, Pacific, Singapore, China, U.S, Hong Kong, Thursday’s
Dollar slips as currency traders see inflation spike as temporary
  + stars: | 2021-06-11 | by ( Reuters Staff | ) www.reuters.com + 0.00   time to read: +3 min
FILE PHOTO: U.S. one dollar banknotes are seen in front of displayed stock graph in this illustration taken February 8, 2021. Currency markets had been sluggish all week in anticipation of the data, but when it came in above expectations, there was little market reaction. The dollar index edged lower in the Asian session and at 0723 GMT, was down 0.1% on the day at 89.995. In Russia, the central bank is expected to raise its 5% interest rate by as much as 50 basis points - its third rate rise in a row. The central bank targets annual consumer inflation of 4%.
Persons: Dado Ruvic, Treasuries, , Bitcoin Organizations: REUTERS, Federal Reserve, CPI, UBS, European Central Bank, New Zealand, ECB, ING, ” ING, Fed, Seven Locations: Russia, Carbis
FILE PHOTO: U.S. one dollar banknotes are seen in front of displayed stock graph in this illustration taken February 8, 2021. Currency markets had been sluggish all week in anticipation of the data, but when it came in above expectations, there was little market reaction. The dollar index edged lower in the Asian session but picked up later in the day. The British pound, Canadian dollar, Australian dollar and New Zealand dollar are currencies that may gain against a weaker U.S. dollar, Jones said. ING strategists wrote in a note to clients that the “glut of liquidity” from central banks was driving a search for “carry”.
Persons: Dado Ruvic, Neil Jones, , Jones, bitcoin, Mizuho’s Jones Organizations: REUTERS, Federal Reserve, UBS, European Central Bank, U.S ., ECB, Mizuho, Fed, , New Zealand, ING, ” ING, Seven Locations: cryptocurrencies, Carbis
Taiwan says Thailand prioritising AstraZeneca shots for itself
  + stars: | 2021-06-11 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
A health worker prepares a dose of AstraZeneca COVID-19 vaccine against the coronavirus disease (COVID-19) as Thailand start a mass inoculation at a gymnasium inside the Siam paragon Shopping center, Bangkok, Thailand June 7, 2021. "The problem is that the goods that were supposed to have arrived in June have not," Tsai told a Taiwanese radio station. Taiwan has ordered 10 million doses from AstraZeneca which is mainly producing the shots in Thailand, she said. "Now Thailand's epidemic situation is serious and they are giving priority for vaccines to be used in Thailand," Tsai added. read moreTaiwan received 1.24 million AstraZeneca doses donated by Japan last week, and the United States has pledged 750,000 shots, but no details have been provided on that.
Persons: Soe Zeya, Tsai Ing, Tsai, Chen Shih Organizations: AstraZeneca COVID, REUTERS, AstraZeneca, Taiwan's, Japan, United States, Thomson Locations: Thailand, Siam, Bangkok, Taiwan, Taiwanese, United, United States, Japan
"But the Fed, which meets next week, can still point to no deviation of inflation expectations to back up its continued mantra of transitory inflation. Seoul's Kospi (.KS11) was up 0.32%, Australian shares (.AXJO) added 0.14% and Hong Kong's Hang Seng index (.HSI) gained 0.53%. "Because of very strong external demand the negative impact from credit deceleration should be OK in the next three to six months, mainly thanks to the strong demand from the U.S.," said Larry Hu, economist at Macquarie in Hong Kong. The spread between the 2-year and 10-year yield also hit its narrowest level since late February, as inflation expectations eased. Hopes for strong economic demand following the U.S. unemployment claims report lifted oil prices to two-year highs on Thursday.
Persons: Rob Carnell, HSI, Larry Hu Organizations: . Labor Department, Japan's Nikkei, ING, Macquarie, Dow Jones, Nasdaq, Treasury, Brent, U.S . West Texas, Thomson Locations: Asia, Pacific, Japan, Singapore, China, U.S, Hong Kong, Thursday's
China calls COVID-19 lab-leak theory 'absurd,' Blinken urges transparency
  + stars: | 2021-06-11 | by ( ) www.reuters.com + 0.00   time to read: +3 min
Yang, China's top diplomat,expressed Beijing's serious concern to Blinken that some people in the United States were spreading the "absurd story" about the coronavirus escaping from a Wuhan laboratory, Chinese state media said. Head of the Central Foreign Affairs Commission of China's ruling Communist Party, Yang also told Blinken that Washington should handle Taiwan-related issues "carefully and appropriately," state broadcaster CCTV reported. The State Department said the discussion on North Korea focused on the need for China and the United States "to work together for the denuclearization of the Korean Peninsula." read more"We urge the United States to respect facts and science, refrain from politicizing the issue ... and focus on international cooperation in the fight against the pandemic," Yang said. They met Taiwanese President Tsai Ing-wen and announced the donation of 750,000 doses of COVID-19 vaccine for Taiwan, drawing a sharp rebuke from China's defense ministry.
Persons: Yang Jiechi, Captain Cook, Frederic J ., Antony Blinken, Yang, Blinken, Tsai Ing Organizations: Central Foreign Affairs, Office, U.S, Captain, REUTERS U.S, Central Foreign Affairs Commission, Communist Party, CCTV, The State Department, Washington, Taiwan, Biden administration's, WHO, World Health Organization, Wall Street, Thomson Locations: China, Anchorage , Alaska, U.S, Hong Kong, Taiwan, United States, Wuhan, Washington, . Washington, Beijing, North Korea, China's Xinjiang, Alaska, Korean, Iran, Myanmar
June 10 (Reuters) - Emerging market shares rose for the first time in seven sessions on Thursday with heavyweight China shares rallying on high-level Sino-U.S. talks, while currencies rose ahead of U.S. inflation data and the European Central Bank’s policy decision. Mainland China shares rose around half a percent after talks between respective commerce officials when they agreed to promote healthy trade and cooperate over differences that have roiled markets and dented global economic growth. Any change to easy monetary policy by major central banks could see a flight from high-yielding assets of emerging markets. As inflation picks up in emerging markets, many domestcic central banks have had to raise interest rates. For GRAPHIC on emerging market FX performance in 2021, see tmsnrt.rs/2egbfVh For GRAPHIC on MSCI emerging index performance in 2021, see tmsnrt.rs/2OusNdXFor TOP NEWS across emerging marketsFor CENTRAL EUROPE market report, seeFor TURKISH market report, seeFor RUSSIAN market report, see (Reporting by Susan Mathew in Bengaluru; Editing by Angus MacSwan)
Persons: Susan Mathew, Angus MacSwan Organizations: China, ECB, U.S, U.S . Federal, ” ING, Institute of International Finance, CENTRAL Locations: China, Africa, Turkey, U.S ., Russian, Peru, Bengaluru
(Reuters) -European stocks inched to fresh peaks on Thursday as the European Central Bank raised its recovery outlook and promised to keep ample stimulus flowing, while travel stocks fell after a recent run of gains. REUTERS/StaffThe pan-European STOXX 600 index was up just 0.1%, but at a fresh record high of 455.76 points, while the narrower index of euro zone stocks fell 0.1%. The central bank now sees 2021 euro zone economic growth at 4.6%, above the 4% projected in March. “The ECB’s main mission today was to avoid any taper talk and not harm the still tentative economic recovery or allow bond yields to surge prematurely,” said Carsten Brzeski, global head of macro at ING. “It accomplished its mission: the ECB seems to have bought some time without starting the taper talk.”Interest rate-sensitive banking stocks rose 0.4%, while tech stocks rose 0.9%.
Persons: Christine Lagarde, , Carsten Brzeski, pare Organizations: Reuters, European Central Bank, REUTERS, Staff, ECB, ING, Federal Reserve, Volkswagen, BT Group, Altice, Spotify, Apple Music Locations: Frankfurt, Germany
FILE PHOTO: U.S. dollar notes are seen on a desk at a currency exchange booth in Karachi, Pakistan December 3, 2018. REUTERS/Akhtar SoomroInvestors have adopted a wait-and-see attitude all week, sucking volatility from the market and leaving major currencies mostly range-bound. The dollar index has fluctuated narrowly around the psychologically important 90 level, and was last at 90.206 - not too far from last month’s low of 89.533, a level not seen since early January. Deutsche Bank’s Currency Volatility Index, which hit its lowest level since February 2020 earlier this week, sank even further to a new low. If realised, that could trigger intraday volatility and a reversal of some of the latest drop in U.S. Treasury yields, Marinov said.
Persons: Akhtar Soomro, , Valentin Marinov, Marinov, , bitcoin Organizations: European Central Bank, REUTERS, Akhtar Soomro Investors, Deutsche, U.S, Labor, Reuters, Credit Agricole, Treasury, Markets, ECB, ING Locations: U.S, Karachi, Pakistan, Europe
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