Saturday, 21 April, 2018

Sterling hits 7-month low against resurgent euro

Unstable EU on the brink as inequality threatens to tear bloc apart, ECB warns ForexLive Americas FX news wrap: Euro rips higher, dollar and yen beaten up
Preston Stone | 29 June, 2017, 09:11

The jerk higher in yields following Draghi's comments (http://www.marketwatch.com/story/ecbs-draghi-hints-at-winding-down-of-eurozone-qe-2017-06-27) is reminiscent of other so-called taper tantrums, when investors have sought to pre-empt central banks scaling back their stimulus measures.

SINGAPORE, June 28 The euro hit a 10-month high on Wednesday after the European Central Bank chief hinted the days of the ECB's aggressive stimulus are numbered, and as the dollar was pressured after a vote on US healthcare legislation was delayed.

Speaking in London, Federal Reserve Chair Janet Yellen did little to suggest USA policy makers have altered plans for a third interest rate hike later this year, saying "it will be appropriate to the attainment of our goals to raise interest rates very gradually".

GOOGLE FINE: Aside from the central bankers, the focus in the markets has been on the whopping 2.42 billion-euro ($2.72 billion) fine the European Union has slapped on Google. The euro rose more than 1 percent against the greenback to $1.1344 in the US session, marking its strongest level since September 8, 2016.

In Asia overnight, MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.4 per cent as it pulled back from a two-year high hit on Monday. Reports on Wednesday, however, said that Draghi meant to signal tolerance for a period of weaker inflation, not an imminent policy tightening, according to sources familiar with his thinking.

US stocks accelerated their losses after Senate Republican leader Mitch McConnell made a decision to put off a planned vote on a bill to dismantle the Affordable Care Act until after the Senate's July 4 recess, to get more time to garner sufficient votes for its passage.

Expansion Vegas loads up on D-men, could make more trades
Vegas Golden Knights' Marc-Andre Fleury speaks with the media Wednesday, June 21, 2017, in Las Vegas . He took full advantage of the opportunity, becoming one of the team's most reliable players.

But, a stronger euro may weaken inflation by making imports somewhat cheap which could result to European Central Bank being hesitant in further tightening the stimulus policy therefore stalling the euro's rise.

The delay of the healthcare vote eroded expectations that President Donald Trump can succeed at realizing his agenda of tax reform and infrastructure spending, analysts said.

Banks traded higher, as the banking sector rose 0.66% on this news. South Korea's Kospi shed 0.3 percent to 2,386.03. Hong Kong's Hang Seng index edged 0.1 percent lower. China's Shanghai Composite Index added 0.2 percent to 3,191.20.

OIL: Benchmark U.S. crude rose 23 cents to $43.61 per barrel in electronic trading on the New York Mercantile Exchange.

Brent crude futures, the global benchmark for oil prices, gained 82 cents, or 1.79 percent, to settle at $46.65 per barrel. The Nikkei ended the morning session 0.3 percent higher. That selling helped the dollar touch a fresh one-month high of 111.95 yen early on Tuesday. The Dow Jones industrial average slid 0.5 percent to 21,310.66.

The euro surged against the greenback to $1.1349, its highest since late August 2016.

Recommended

  • So it begins: Britain kicks off Brexit negotiations with EU

    So it begins: Britain kicks off Brexit negotiations with EU

    A detailed paper will then be published on Monday, Mr Davis confirmed. "And use the time in between to work on proposals and exchange them".

    Modi meets Trump with his usual greeting _ bear hugs

    These energy contracts "are being negotiated and we will sign - trying to get the price up a little bit", Trump said . India and the USA also urged Pakistan to ensure that its territory is not used to launch cross-border terror strikes.
    Cosby Jury Goes Over Accuser's Testimony During Deliberations

    Cosby Jury Goes Over Accuser's Testimony During Deliberations

    Last week, Pulliam gave a similar statement to ET, again making it clear that she doesn't "condone or support sexual assault". Prosecutors have portrayed Cosby as a serial predator. "A 30-year consecutive sentence would be a life sentence", she said.
  • Iraqi army says

    Iraqi army says "Daesh is finished" in Mosul

    Sporadic sniper fire could be heard, and an incoming rocket, as the troops used a drone to survey the insurgents' defences. Islamic State has lost about half the Old City since the battle for the historic district started ten days ago.
    WPAFB Weather: Highs in the 80s today, potential storms ahead this week

    WPAFB Weather: Highs in the 80s today, potential storms ahead this week

    On Sunday , the Triangle had a high of 84 after a morning low of 69; and Fayetteville had a high of 91 after a morning low of 74. Tuesday , it will be sunny with a high near 82, and a south southeast wind of 3 to 8 miles per hour , the weather service said.
    Scientists in Limbo as Scotus Allows Modified Travel Ban

    Scientists in Limbo as Scotus Allows Modified Travel Ban

    The man, who declined to be identified, said he wouldn't know the outcome until at least Sunday, when the U.S. The limited ban will take effect Thursday morning, the State Department said Monday.
  • Tehran says Saudi coastguard killed Iranian fisherman

    Tehran says Saudi coastguard killed Iranian fisherman

    Last week, Qatar's navy carried out three days of joint training exercises with the U.S. navy. Qatar has been accused of funding terrorism, a charge it denies .
    Oil price extends drop to 7 month lows, despite OPEC cuts

    Oil price extends drop to 7 month lows, despite OPEC cuts

    This, combined with the hostile political climate in North Africa and West Asia has threatened exports, causing the supply glut. The Iranian minister spoke highly of OPEC's performance in arriving at a consensus to cut output and help prop up prices.
    Comatose US Student Freed by North Korea Has Severe Brain Injury

    Comatose US Student Freed by North Korea Has Severe Brain Injury

    A Department of State spokeswoman won't say what envoy Joseph Yun gleaned about the medical conditions of the other Americans. Residents of the northern Cincinnati suburb tied blue-and-white ribbons, the school colours, to trees near the family's home.
  • Grenfell Tower fire: Estate residents call for thorough inquiry

    The investigation of the Grenfell Tower fire must leave "no stone unturned", an open letter to Theresa May has warned. Paulous' body was found on the building's 13th floor and had to be identified through dental records.
    Trump Attacks Amazon, Washington Post in Tweet That Literally is 100% False

    Trump Attacks Amazon, Washington Post in Tweet That Literally is 100% False

    With respect to an "internet tax", states and localities can't levy taxes on access to the web. The stock immediately plunged about $8 per share before recovering by the market open.
    Baby Driver is not your average crime thriller

    Baby Driver is not your average crime thriller

    His tough-looking passengers ( Jon Hamm , Eiza Gonzalez and Jon Bernthal ) exit with comical menace, assault weapons in hand. Baby is an expert wheelman employed by Doc ( Kevin Spacey ), a shadowy crime king specializing in impossible heists.

Merkel rival puts stronger Europe at center of German election Merkel rival puts stronger Europe at center of German election Merkel's comments came after the SPD declared Sunday that same-sex marriage would be a red line issue for any future coalition. Merkel said the program will be forward looking and will contain "all topics that you would expect from the party".

Iran warns United States against 'dangerous' Syria escalation Iran warns United States  against 'dangerous' Syria escalation In 2012, President Obama famously warned that the use of chemical weapons use would constitute a red line , triggering US action. Days later, President Donald Trump ordered a retaliatory cruise missile strike on a Syrian government-controlled air base.

Fultz, Embiid fully believe Sixers are a playoff team Fultz, Embiid fully believe Sixers are a playoff team There were some slight winners like Charlotte and Utah landing Malik Monk & Donovan Mitchell respectively at surprising spots. Fast food probably isn't a deal-breaker when it comes to where you play in the National Basketball Association .

Govt approves disinvestment of Air India Govt approves disinvestment of Air India Air India's share in the domestic aviation market is a mere 14 per cent with Indigo and Jet Airways enjoying the lion's share. On June 5, 2017 Finance Minister Arun Jaitley said that the government should have exited the airline more than a decade ago.

Pentagon: 'Active preparations' by Syria for chemical attack White House spokeswoman Sarah Huckabee Sanders flatly denied the White House was freelancing on foreign policy. The US-led coalition and allied fighters are battling to oust the IS group from its Syrian bastion Raqa.

New Analyst Ratings For Morgan Sindall Group (LON:MGNS) In related news, insider Steve Crummett sold 13,174 shares of Morgan Sindall Group PLC stock in a transaction on Friday, May 19th. Winslow Evans Crocker accumulated 4,380 shares or 0% of the stock. 435,528 shares of the company's stock traded hands.

Bank of England tightens capital requirements as debt surges Bank of England tightens capital requirements as debt surges Borrowers often do everything they can to pay off mortgages , but are less afraid about defaulting on credit cards or auto loans. The Bank's assessment said loss rates on consumer lending "are low at present", driving margins on new lending lower.

Undercover Video Shows CNN Producer Admitting Russia Narrative is 'Mostly Bullsh Undercover Video Shows CNN Producer Admitting Russia Narrative is 'Mostly Bullsh The story Trump spoke of was posted on the network's website Thursday and was removed, with all links disabled, Friday night. In the video released by Real Clear Politics, Bonifield said CNN and other media organizations operate as businesses.

Martial denies exit rumours Martial denies exit rumours Anthony Martial has completely shut down all rumours that his representatives have discussed an exit from Manchester United . Alongside the written message, Martial included a red emoji - reaffirming his commitment to United.

AB de Villiers backs South Africa to win Test series against England AB de Villiers backs South Africa to win Test series against England Dawid Malan was named man of the match after making the highest score by an England player on their T20 debut. AB de Villiers believes South Africa's excellent Test record in England will work in their favour again.

Trump calls for stricter limits on welfare for immigrants Trump calls for stricter limits on welfare for immigrants Trump bested Democrat Hillary Clinton in Iowa by almost 10 percentage points in the election previous year . On the border wall, the president reassured his base: "And yes, we will build the wall".

E3 2017: Microsoft Isn't Making Money On The $500 Xbox One X E3 2017: Microsoft Isn't Making Money On The $500 Xbox One X He told them that the experience will be better on PC, and that Xbox is choosing to focus on mixed reality or augmented reality. Spencer's comment does make sense in the perspective that the Xbox One X offers specifications that Sony can't now rival.

Cosby trial accuser thanks supporters for love, kindness Cosby trial accuser thanks supporters for love, kindness Cosby stemming from other possible victims, his defense attorney said "None of these accusations have ever been vetted". I'm not going to plea to something I did not do", Cosby said, during an exclusive interview with the NNPA Newswire.

Tillerson urges nations to negotiate to resolve Qatar crisis Tillerson urges nations to negotiate to resolve Qatar crisis Tillerson said that "a productive next step would be for each of the countries to sit together and continue this conversation". Bahrain, Saudi Arabia, United Arab Emirates (UAE) and Egypt have cut ties with Qatar on terrorism funding charges.

Former NBA bad boy Rodman is back in North Korea Former NBA bad boy Rodman is back in North Korea The announcement comes as former National Basketball Association player Dennis Rodman is paying a return visit to North Korea . Warmbier also said he had been encouraged by the university's "Z Society", which he said he was trying to join.