Published: Sun, June 17, 2018
Money | By Michele Stevens

Italian Bonds Lead Euro-Area Rally as ECB Hike Bets Pushed Back

Italian Bonds Lead Euro-Area Rally as ECB Hike Bets Pushed Back

The ECB now plans to reduce monthly asset purchases between October and December to 15 billion euros until the end of 2018 and then conclude the program.

The Pound found itself trending lower against a basket of other currency majors on Friday, including the US Dollar (GBP/USD) and Euro (GBP/EUR).

Chinese stocks led the losses, with the benchmark Shanghai Composite index plumbing a 20-month low, as investors anxious about the economic damage from the trade tensions with the United State.

The euro touched on its steepest one-day drop against the USA dollar since June 2016, and was down 1.64 percent at 1.160.

"Uncertainties related to global factors, including the threat of increased protectionism, have become more prominent", Draghi emphasized, adding that the risk of persistent heightened financial market volatility should be closely monitored.

James Comey and Federal Bureau of Investigation criticised by watchdog over Hillary Clinton emails
The DOJ inspector general panned many of his key decisions, though he did agree with the recommendation not to charge Clinton. The watchdog report being released Tuesday said Comey was not motivated by bias at the news conference.

"These opposing views should see interest rates diverging more between the two most powerful central banks in the US's favour which should continue to lend support to the dollar".

The ECB said it would end its bond buying program by December but interest rates would stay on hold "through the summer of 2019".

Draghi said there would be no prospect of an increase in the ECB's key lending rate - now 0.0% - until next summer at the earliest.

An official of a bank-linked securities firm said market players made their positions neutral in late trading as the United States is expected to impose new tariffs on Chinese goods as early as later on Friday.

"The implementation of tariffs on China is one of several fronts that the U.S. is battling on the issue of trade", said Tai Hui, chief Asia-Pacific market strategist at JPMorgan Asset Management, referring to the Trump administration's tough stance towards Canada and Europe.

Belmont Stakes 2018 Payouts: Win, Place, Show Results For 150th Race
Instead, he powered to the front of the field on the sweeping Belmont track called "Big Sandy" and ran like a machine to the wire. With the win, Justify , who did not race as a two-year-old, improved to 6-0 in his young career, which started just 111 days ago.

On Wall Street, two of the three main indices closed higher, with technology stocks leading the charge on the benchmark S&P 500.

The U.S. currency climbed to levels around ¥110.70 after the Bank of Japan announced shortly before noon that it has decided at a just-ended policy-setting meeting to maintain its massive monetary easing. The new government is also planning a flat tax, calculating the loss of revenue will be compensated by a surge in growth.

The Federal Reserve raised interest rates by another 25 basis points yesterday, while signalling that it is ready to hike on a total of four occasions in 2018, as has been our long standing expectation.

Oil prices, meanwhile, fell sharply a week before a crunch meeting of OPEC and its allies who are to decide whether to extend a production cut agreement that has been in force since the end of 2016.

West Texas Intermediate (WTI) crude oil futures were up 0.2 per cent at US$67.02 per barrel, while Brent was at US$76.02.

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Afghanistan further have two quality spinners in Mohammad Nabi and Zahir Khan , both of whom were part of the IPL this year. I am really happy for them, we really worked hard to get to this position, and hopefully they carry forward the hard-work.

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