Asian stocks mixed after European Central Bank announcement, USA data
Asian stocks mixed after European Central Bank announcement, USA data
Daniel Roland AFP Getty Images
17 June, 2018, 11:42
The ECB said its Governing Council will continue to make net purchases under the asset purchase programme (APP) at the current monthly pace of Euro 30 billion until the end of September 2018.
CURRENCIES: The dollar was flat at 110.65 yen and the euro strengthened to $1.1591 from $1.1560.
The biggest complication could be a murky economic outlook, muddied by the developing trade war, a populist challenge from Italy's new government and softening export demand.
The dollar slipped against its global peers Friday and global stocks fell as the United States slapped new tariffs on Chinese goods, reviving the marketsfears of an escalating trade war, dealers said.
Elsewhere, the People's Bank of China (PBOC) left borrowing costs for interbank loans unchanged on Thursday, a surprising decision that shrugged off the Fed's rate increase.
The Asia Pacific MSCI index ex-Japan edged down 0.3%, with many regional markets shrugging off a strong close on Wall Street.
TOKYO, June 15 ― Asian shares wobbled today as investors braced for U.S. tariffs against China, while the euro flirted with two-week lows after a cautious European Central Bank indicated it would not raise interest rates for some time.
The greenback's weakness gave the euro some breathing space after a slump in the currency sparked by the European Central Bank's promise that interest rates will remain low for at least another year.
EURUSD initially spiked higher on the apparent hawkishness before paring those gains and heading back below 1.18 to trade on the 1.1740 level, said Neil Wilson, chief market analyst for Markets.com. US President Donald Trump was planning to meet with trade advisers later to decide whether to activate the tariffs, a senior administration official said on Wednesday.
"The Governing Council expects the key European Central Bank interest rates to remain at their present levels at least through the summer of 2019 and in any case for as long as necessary to ensure that the evolution of inflation remains aligned with the current expectations of a sustained adjustment path", the European Central Bank said in a statement. The program is credited with raising inflation to the ECB's target of just under 2 percent. More evidence arrived that the US economy is improving, meanwhile, which helped send the S&P 500 to its fourth gain in the last five days.
Its U.S. counterpart, the Federal Reserve, has already halted bond purchases and has increased interest rates seven times since late 2015.
Dean Turner, UK economist at UBS Wealth Management, said: "Today's meeting came at a challenging time for the European Central Bank, considering the political turbulence in Italy and the string of soft data coming out of the eurozone in recent months".
West Texas Intermediate (WTI) crude oil futures were up 0.1% at $66.93 a barrel, while Brent was down 0.1% at $75.87.
Legendary fried chicken purveyor Church's Chicken posted an Instagram photo that poked fun at the IHOP name change buzz. It remains to be seen whether the change will be permanent or merely a flash in the pan (cake) to promote hamburgers.
During the meeting with Pompeo in Seoul, Foreign Minister Kang said the alliance with the USA remained strong. The awkward moment raised some eyebrows because the US and North Korea technically are still at war.
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A powerful storm damaged the Panera Bread restaurant in the Arena Hub shopping area in Wilkes-Barre Township, Pa., on Wednesday. As of early Thursday afternoon, their live outage map showed that about 1,000 customers around Wilkes-Barre were without power.
North Korea blasted Pence's remarks as "ignorant and stupid", sparking the cancellation of the planned Trump-Kim meeting. Then-South Korean President Syngman Rhee wanted to continue fighting and refused to sign the treaty.
Domino's Pizza is stepping in to help fix America's infrastructure - filling potholes to make sure your pies make it home safely. They even shoved a GoPro inside a pizza box to show how harmful potholes can be to your large pepperoni with extra cheese.
Pinterest boards all over the world were being filled with images of the duchess of Sussex's breath-taking gown. They were greeted as they arrived at Runcorn station, where Meghan said: "I'm very happy to be here".
Ultimate , ended up taking up most of the length of the presentation, and it promises to be the best title ever in the series. Daemon X Machina , a brand-new mech game from the mind of Armored Core developer Kenichiro Tsukuda was announced for Switch.
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The Houthi-run Al Masirah satellite news channel claimed rebel forces hit a Saudi coalition ship near Hodeida with two missiles. Before dawn Wednesday, convoys of vehicles appeared to be heading toward the rebel-held city as heavy gunfire rang out.
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