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Euro fell against the dollar on euro zone government

Euro zone economic growth is steadily picking up pace and the risks to the survival of the single currency are receding after pro-euro centrist Emmanuel Macron won the first round of France’s presidential vote.
Traders argued that Draghi’s comments were more cautious than they had expected and the euro EUR= fell against the dollar while yields on euro zone government bonds, which tend to move in tandem with central bank rates, dipped.
With its policy arsenal nearly depleted and inflation now comfortably above 1 percent, policymakers from Germany and other northern euro zone countries are calling for mapping out the way to the exit.
Despite calls from Germany, the euro zone’s economic powerhouse, for a gradual reduction of stimulus, the ECB even left the door open to further rates cuts or an increase in asset buys.
ECB policymakers will have a chance to reassess the situation in June, when the bank publishes new growth and inflation forecasts.

Euro zone

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Stocks slip after Trump tax plan; euro softens after ECB

REUTERS/Brendan McDermid Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., April 27, 2017.
Investors focussed on a stream of solid earnings reports after a lukewarm reception for U.S. President Donald Trump’s tax plan unveiled on Wednesday, as some details of the plan were largely anticipated by investors.
A trader looks at a screen that charts the S&P 500 on the floor of the New York Stock Exchange (NYSE) in New York, U.S., April 27, 2017.
First-quarter earnings are expected to show growth of 12.4 percent, the best since 2011, according to Thomson Reuters data.
As widely expected, the ECB made no changes to its record- low interest rates or stimulus programme.

 
Trump tax plan

REUTERS/Brendan McDermidTraders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., April 27, 2017.
Investors focussed on a stream of solid earnings reports after a lukewarm reception for U.S. President Donald Trump’s tax plan unveiled on Wednesday, as some details of the plan were largely anticipated by investors.
A trader looks at a screen that charts the S&P 500 on the floor of the New York Stock Exchange (NYSE) in New York, U.S., April 27, 2017.
First-quarter earnings are expected to show growth of 12.4 percent, the best since 2011, according to Thomson Reuters data.
As widely expected, the ECB made no changes to its record- low interest rates or stimulus programme.

 

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