Euro Maintain Gains After ECB Meeting

US shares were mixed with the S&P ending slightly lower as investors braced for Irma and fretted that Pyongyang could

Azad Zagana, senior economist at Schroders, said investors should expect greater clarity on the currency at the next meeting, and noted that Mr Draghi revised upwards his growth forecast for 2017, to 2.2 per cent, the highest for a decade.

More important, its inflation projections were kept unchanged at 1.5% this year but was lowered to 1.2% (from 1.3%) next year and 1.5% (from 1.6%) in 2019, not least, because of the euro currency's strength.

ALL EYES ON DRAGHI: Markets are waiting to see whether European Central Bank President Mario Draghi will try to talk the euro down as he discusses the future of stimulus for the 19-country eurozone economy.

-Asset buying to continue at a 60 billion euros a month through year-end or beyond.

These figures confirmed that the Euro-Area's economy developed at its fasted speed since the debt crisis some five years ago, providing a bright outlook and also demonstrating that the European economy is remaining competitive with the United States, which recorded growth of 2.2% year-on-year in Q2. The higher the euro rises, the more likely it is that inflation, which has been stubbornly low for years, will remain subdued.

"Recent economic data have been stronger than expected, supporting the bank's view that growth in Canada is becoming more broadly-based and self-sustaining", the bank said.

The euro's surge this year - by more than 14 percent against the dollar and nearly 6 percent on a trade-weighted basis - was reflected in a downgrade to the ECB's inflation outlook even as Draghi said economic growth remains solid. He's doing everything he can to spur inflation and the euro strength is taking that (any benefit) away from him.

"We think we are going to be ready for much of what we have to decide in October. if we are not then we postpone".

If Europe continues to see faster levels of growth at a time of political calm, whilst uncertainty remains in the USA and United Kingdom political climates, the Euro may continue to be seen as a relative safe haven.

The slowness of consumer price growth may give Mr Draghi cause to wait as long as possible. Second-quarter gross domestic product data released earlier in the morning showed 2.5% growth on-year, below the 4% growth estimated in a preliminary reading. House prices advanced 2.6 percent year-on-year in three months to August, faster than the 2.1 percent increase seen in three months to July.

The ECB left its benchmark short-term interest rate at zero, and its deposit rate at negative 0.4 percent, both record lows.

Overall, markets are increasingly confident that the European Central Bank will begin withdrawing its quantitative easing (QE) package soon, but the undervalued GBP EUR exchange rate has held above its worst levels.

Related News:

  • Catalan lawmakers hold heated debate on vote

    Catalan lawmakers hold heated debate on vote

    The law is meant to take effect only if the separatists win the referendum. A majority of Catalans do want the right to hold a referendum, however.
    Don Williams Dies: Country Music Hall of Famer Was 78

    Don Williams Dies: Country Music Hall of Famer Was 78

    The Texas native, who as known as the " Gentle Giant " for his soft vocal style, was 78 at the time of his death on September 8. Williams was a Texan, born in the tiny Panhandle town of Floydada and raised in Portland near Corpus Christi.
    Putin threatens to expel 155 more United States  diplomats from Russian Federation

    Putin threatens to expel 155 more United States diplomats from Russian Federation

    Moscow already instructed American missions to bring down personnel numbers to the same level as Russian diplomats in the U.S.by September 1.
  • Republican leaders annoyed' over Ivanka visit during meeting

    Republican leaders annoyed' over Ivanka visit during meeting

    The White House says she's concerned about how the estate tax may affect her children when they inherit the operation. Tom Cole, R-Okla., noting that it would give conservatives another opportunity to argue for spending cuts.
    Why Self-Driving Car Companies Are Cheering Congress Today

    Why Self-Driving Car Companies Are Cheering Congress Today

    The Trump administration meanwhile will put its first formal stamp on autonomous vehicle policy when the U.S. But with a fully autonomous vehicle, the auto becomes the driver, disrupting how regulation has long worked.
    Russian Federation  reserves right to further cut number of U.S.  diplomats

    Russian Federation reserves right to further cut number of U.S. diplomats

    The Russian president also slammed the "useless" sanctions imposed on North Korea, and called the U.S. Russian President Vladimir Putin has condemned North Korea's latest nuclear test as provocation.
  • Tom Cruise feeling betrayed by Katie Holmes and Jamie Foxx's romance

    Tom Cruise feeling betrayed by Katie Holmes and Jamie Foxx's romance

    Reports suggest that Katie had kept quiet about the relationship because of a contract between her and ex Tom Cruise. The images, which surfaced online, showed the pair out for a beach day outing in their home state of California.

    Dennis Rodman Offers To Be A Mediator Between Trump And Kim Jong

    He later joked with host Piers Morgan, who also appeared on Celebrity Apprentice , "Donald can be a little insane sometimes". I've got to hope", he said, adding "I don't love him. "I think that will open a door just a little bit".
    Mickelson handed Presidents Cup spot

    Mickelson handed Presidents Cup spot

    The players on Team USA boast an average world ranking of 15.6, less than half of their worldwide counterparts (31.9). Price's second pick, however, drew criticism too, as he took Anirban Lahiri for his team over some younger options.
  • Kashmiri separatist leader Yasin Malik arrested by NIA

    Kashmiri separatist leader Yasin Malik arrested by NIA

    The NIA raided senior Hurriyat-G leader and prominent Shia cleric Aga Syed Hassan's residence in Budgam. Besides, the NIA team also raided and searched the house of JKLF leader Showkat Ahmad Bakshi.
    Samsung unveils the Galaxy C8 in China

    Samsung unveils the Galaxy C8 in China

    Hancom's Office S app was also provided for the Galaxy S8 when this flagship smartphone was released earlier this year in April. Samsung , as well as carriers in the US , have received high numbers of preorders for the phone.
    Honor 6 Play with quad-core MediaTek SoC launched

    Honor 6 Play with quad-core MediaTek SoC launched

    On the front, we can notice the 5-megapixel shooter and it has the f/2.4 aperture and we can use it for capturing the selfies. The V9 Play is supposed to be a budget smartphone with a big battery and Android Nougat based EMUI 5.1.


Most liked

Nintendo Switch Could See Shortages During Holiday Season
Nintendo will instead focus on augmented reality (AR), because "the potential for AR is here and now" according to Fils-Aime. Nintendo Switch has been around for more than a seven months, but consumer demand for the console shows no signs of abating.

Former New York Giants kicker Josh Brown suspended another six games
The NFL announced they have suspended Brown an additional six games after they found new evidence in his domestic violence case. Elliott appealed the league's decision, and arbitrator Harold Henderson ruled Tuesday that the suspension will be upheld.

Help end the stigma of talking about mental health
Understanding, empathy and guidance are things we all need when under duress, especially when it involves suicide risk. THE MENTAL HEALTH COMMISSION OF CANADAThe Mental Health Commission of Canada is a catalyst for change.

Disney World Is Planning to Stay Open Through Hurricane Irma
Disney will close all its parks early on Saturday, while Universal is set to close theirs on Saturday at 7pm. In addition, Disney World will automatically cancel and refund all pre-paid dining and premium experiences.

Demetrious Johnson vs. Ray Borg Reportedly Canceled as UFC 215 Main Event
Moving to the Pay-Per-View main card will be the flyweight bout between Henry Cejudo and Wilson Reis . Amanda Nunes-Valentina Shevchenko for the female bantamweight title now serves as the main event.

LCBO To Oversee Pot Sales
The LCBO will oversee the legal retail of cannabis in Ontario through new stand-alone cannabis stores and an online order service. The LCBO will be its legal retail distributor and will handle online sales which will be launched across Ontario by next July.

Northeast unemployment drops to 5.2%
The agency said most of the decline in full-time work was concentrated among young Canadians aged 15 to 24 years old. There was also a renewed gain in finance and real-estate jobs for the month while jobs in the trade sector declined.

Bihar Congress on verge of splitting; 19 MLAs seek breakup with RJD
A Congress worker can not approve of this because what Nitish did is not only opportunism but also a compromise with ideology. However, Congress spokesman Premchandra Mishra said JD (U)'s efforts to engineer a split in the party have turned futile.

Defiance County man becomes first 2017 OH death from West Nile virus
The very young, the elderly and people with other conditions, such as cancer or diabetes, are at higher risk. To guard against the virus, the district urges residents to take precautions to avoid mosquito bites.

Flipkart announces annual 'Big Billion Days' sale on Sept 20-24
Flipkart has launched a host of new features to take on Amazon, including buy-now-pay-later, EMI for debit card purchases. It created the e-commerce market in India, and it will aid the millions of people from small towns and villages.

Gurugram: Ryan International School student found dead inside toilet
The boy's uncle alleged there was no support from the school management and action should be taken against them. This comes nearly a month after a 9-year-old boy died under mysterious circumstances at GD Goenka School.

Close down Department of Financial Services, says Raghuram Rajan
He said that the Central government had once asked him about the cost and benefit of such move. Dr Rajan told NDTV that he and Mr Kumar "have had some very good conversations in the past".

Apple's 10th Anniversary Celebration May Prove to be Sour (AAPL)
The iPhone 7 launch event was hosted in 2016 on September 7, a Wednesday and it opened for pre-booking from September 9, a Friday. Apple gave a quarterly income of $45.4 Billion, up 7% as compared to the previous year, for the quarter three of this year.

Serge Aurier: "If I was not mentally strong, I would have broken".
Alli, 21, has had a number of run-ins with the football authorities and has faced calls to curb his fiery temperament. I trust in him, I am confident he can help us . "We need to keep the dynamic we have created".

Mandatory evacuation for Georgia's coast
We will continue monitoring Hurricane Irma's path in the days ahead and coordinating with our federal, state and local partners. Irma is expected to hit Savannah, Georgia Monday evening before continuing to Hilton Head Island in SC as a Category 3 storm.