Draghi: Considerable stimulus still needed despite recovery
Draghi: Considerable stimulus still needed despite recovery
"Interest rates have to be low for growth to recover" Draghi told an audience
29 June, 2017, 07:31
Against the perceived safe-haven yen, the dollar slipped 0.3 percent to 112.120 after rising as high as 112.285 yen.
"Wednesday's trading continued to be driven by Tuesday's news, with little to challenge either Draghi's. comments or the latest U.S. healthcare reform stumble for market dominance", said Connor Campbell, analyst at Spreadex trading group. That rally came after ECB President Mario Draghi said at a conference in Portugal on Tuesday that deflationary forces had been replaced by reflationary ones.
"However, he's got a track record of keeping the stimulus in place so when you've got a market that's positioned ... for euro longs, we're just concerned that there's more downside risk to the euro than upside because it could unwind pretty quick if action doesn't follow the rhetoric", Arnold said. The euro leaped 0.9% against the dollar to $1.1284, while eurozone government bond yields also rose sharply.
"The Fed chair is scheduled to take part in a discussion on global economic issues at London's Royal Academy, and is seen likely to stick to her positive views on the USA economy despite a recent batch of weak US economic data, supporting the Fed's forecast of raising interest rates once more this year". European government bond yields also rose, with those on 10-year German government debt hitting a one-month high of 0.4 percent on June 28.
The yield on US Benchmark 10-year Treasury notes stood at 2.213 per cent in Asian trade, above its US close of 2.198 per cent on Tuesday.
The delay in the healthcare vote brought back worries about the time table of President Donald Trump's business-friendly agenda.
"He surprised the market with that upbeat stance", said Tom di Galoma, a managing director at Seaport Global in NY.
Traders took the comments as a signal the European Central Bank was gearing up to wind down the programme as early as January, an outcome that officials said had yet to be discussed and will ultimately depend on inflation and other economic data in the coming months.
"Today's communication marks the latest in an incremental approach to removing the emergency policy measures, which as we have argued will see the European Central Bank outline a tapering of its asset purchase program (APP) at its early September meeting". Eastern time. The Dow Jones industrial average fell 17 points, or 0.1 percent, to 21,392.
Tim Evans, Citi Futures' energy futures specialist, said in a note that oil's move was "a technical correction after the declines of the past five weeks", helped along by boosts from a weaker dollar and forecasts for a weekly draw in US crude inventories.
Crude oil prices were steady but couldn't build on four straight sessions of gains as worries about oversupply were underpinned by the latest U.S. inventory data. Meanwhile, U.S. Federal Reserve Chair Janet Yellen, in a speech in London, said she didn't foresee another financial crisis "in our lifetimes".
The Nasdaq Composite was up 11.02 points, or 0.18 per cent, at 6,157.65.
Spectranetics jumped 26.2 per cent to US$38.40 after Dutch healthcare company Philips agreed to buy the company for US$2.16 billion. USA gold futures gained 0.09 percent to $1,247.50 an ounce.
General Mills rose 1.6 percent to $56.46 after the Cheerios maker's quarterly profit beat estimates.
Two people were hospitalized in the solo-vehicle crash and subsequent auto fire that caused the wildfire on Monday afternoon. The blaze has grown to 2.5 square miles (6.5 sq. kilometers) since it broke out outside San Luis Obispo on Monday afternoon.
Francona presented Rangers first baseman and former Indian Mike Napoli with his American League Championship ring before the game. Cleveland is also 1-5 in Bauer's last six Wednesday starts and 4-0 in Bauer's last four starts versus the AL West.
Fixed an issue where Barq (of Byte & Barq) does a big warp when riding the snakeboard and finishing a special move rush. Up to 4 players can be in the arena, and players not now fighting watch as spectators.
The story was replaced with an editor's note of apology to Anthony Scaramucci , the Trump aide who was investigated in the story. The release of the embarrassing video comes after another high-profile fake news flop at the network.
Love, 28, averaged 19 points, 11.1 rebounds and 1.9 assists over 60 games with the Cavs last season, his third with the club. But what Boston can offer the Pacers is young players paired with future draft picks which is something IN desperately needs.
Beyonce and Jay Z welcomed twins earlier this week, according to multiple sources - but the couple are yet to confirm this. But Beyonce has revealed few details about her pregnancy, and did not say when the babies were due to be born.
The Stuttgart defeat was the first time Federer had lost his opening match at a grass-court tournament since 2002 Wimbledon. But Zverev, ranked No. 12, had no answer for Federer's aggressive play and near flawless execution.
This is being addressed by the company and we do not know how long it would take to resolve the issue", the official said. The current attacks come weeks after the Wannacry ransomware attack, which impacted systems of many companies.
One official said that the CAC had backed Kumble's extension without interviewing any of the candidates who had applied so far. Shastri and Ganguly then went on to trade several blows in full public view, accusing each other of lacking professionalism.
Germany reach semis as referee needs VAR double-take
James Troisi opened the scoring for Australia on 42 minutes before Martin Rodriguez equalised for Chile on 68 minutes. Cameroon had Ernest Mabouka sent off in controversial fashion on 64 minutes for a unsafe tackle on Emre Can .
The SNES Classic arrives on September 29th
Super Mario World , Starfox and Yoshi's Island are set to be re-released later this year as part of a new classic SNES console. Still, it's nice to see Nintendo acknowledge the shortcomings of its last plug-and-play device.
Derailment caused by 'improperly secured' rail
The derailment sent travelers tumbling to the floor and forced hundreds of passengers to evacuate through darkened tunnels. Lhota said the emergency braking system on the train triggered, but it wasn't immediately clear why.
Trump takes another swipe at CNN following resignations
Fake News CNN is looking at big management changes now that they got caught falsely pushing their phony Russian stories. People familiar with the matter said the impact of CNN's retraction is reverberating throughout the newsroom.
Keeping CEO job was 1 fight too many for Uber's Kalanick
As of today, Travis Kalanick's unfettered reign at the $70 billion Ayn Rand-themed auto service that lives on your phone is over. Attorney General Eric Holder , saying it would reduce Kalanick's role and improve the complaint process for workers.
Next season's Premier League fixtures have been released
Champions Chelsea will open the defence of their league title at home when they host Burnley on the first day of the new season. The fixture will conclude West Ham's preseason games and see Pablo Zabaleta given the opportunity to face his former side.