Euro jumps after European Central Bank minutes; stocks gain with energy

BlackRock's Koesterich Says Equities Can Go Higher

BlackRock's Koesterich Says Equities Can Go Higher

As for the eurozone, the minutes stated that the economy was displaying "continued robust and increasingly self-sustaining economic expansion". Currently, EUR/USD is trading at 1.2119, up 0.73% on the day.

Investors took the relatively hawkish statement as a signal that the European Central Bank will wind down its 2.55 trillion euro ($3.07 trillion) bond purchase scheme this year if Europe's economy continues to hum along, and that it will start moving towards interest rate hikes.

In Europe, Germany's DAX fell 0.1 percent to 13,196 while Britain's FTSE 100 rose 0.2 percent to 7,777.

The US dollar index traded marginally lower on Friday, extending the notable losses it posted on Thursday on the back of weaker-than-expected US producer price data and a stronger euro.

The minutes from the ECB's December meeting said the central bank should revisit its communication stance in early 2018 and gradually adjust its language to reflect improved growth prospects. Yet it still suggested consumer spending had made a sizeable contribution to economic growth for the fourth quarter as a whole, after a disappointing third quarter.

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The pairing opened daily trading in the region of 1.1930 and closed higher around 1.1956 in the evening.

The dollar index was down by 0.05% to 91.81 as of 11.57am Shanghai time.

The euro rose to a three-year high against the dollar on Friday as investors welcomed a breakthrough in German coalition talks.

MARKET CALM: Global equity markets settled after some turmoil earlier in the week sparked by a news report that China might slow or halt purchases of U.S. Treasurys, which Beijing later challenged. Japan's Nikkei dipped 0.1 percent.

On Wednesday's trading session, the Euro to US Dollar exchange rate saw a minimal rise.

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The BOJ kicked things off Tuesday by cutting purchases of long-dated Japanese government bonds, spurring bets it may also tweak its yield-curve control policy.

Sterling slipped to a one-week low against the euro Thursday, as the single currency soared on talk that the European Central Bank could start to change its message of expansionary monetary policy in the coming months.

United States economic news-flow has notably deteriorated relative to consensus forecasts in recent weeks, hinting that analysts' models may be overly optimistic and opening the door for further downside surprises.

Oil prices retreated from big gains the previous day but still traded near three-year highs on signs of tightening supply in the US.

Brent crude prices hit $70 a barrel on signs of tightening crude stocks but settled off that level on Thursday, while a jump in energy shares helped lift US stocks. Surveys of confidence have surged and measures of activity are at multi-year highs.

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