{"id":95300,"date":"2016-09-08T07:17:01","date_gmt":"2016-09-08T11:17:01","guid":{"rendered":"http:\/\/countingpips.com\/?p=95300"},"modified":"2016-09-08T07:17:01","modified_gmt":"2016-09-08T11:17:01","slug":"european-central-bank-to-leave-rates-unchanged","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/09\/european-central-bank-to-leave-rates-unchanged\/","title":{"rendered":"European Central Bank to leave rates unchanged"},"content":{"rendered":"
September 8, 2016<\/div>
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By IFCMarkets<\/a><\/p>\n

US stocks <\/b>ended slightly lower on Wednesday after the release of moderately positive Beige Book report by Federal Reserve provided some support for a rate hike likelihood soon.<\/p>\n

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The dollar edged higher against major currencies. Live dollar index<\/a> data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, rose 0.1% to 94. 941. The Dow Jones industrial average fell 0.1% to 18526.00, with shares of Wal-Mart and Home Depot, down 1.3% and 1% respectively, pulling the blue chip index into negative territory despite a 2% gain in Caterpillar. The S&P 500<\/a> slipped less than a point to 2186.15, led by 0.9% loss in consumer staples stocks. The broad market index has now ended 50 consecutive sessions without a daily drop of more than 1%. The Nasdaq composite index rose 0.2% to a record close of 5283.93 helped by Apple\u2019s event. Federal Reserve\u2019s Beige Book based on anecdotal information from various districts indicated that the US economy expanded at a modest pace in July and August. And while the report showed there was little sign that wage pressures are being felt beyond highly skilled jobs, the positive Labor Department report on Wednesday said job openings soared to an all-time high of 5.9 million in July. With healthy demand for labor pointing to continued strength in labor market the moderately positive Beige Book report was seen as rather supportive for the case of a rate hike soon. Today at 13:30 CET Initial Jobless Claims and Continuing Claims will be released in US. At 16:30 CET Natural Gas Storage Change will be released by the Energy Information Administration.<\/p>\n<\/div>\n<\/div>\n

European stocks <\/b>advanced on Wednesday in a choppy session as investors anticipated European Central Bank will continue its asset purchases program to stimulate the economy.<\/p>\n

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The euro and Pound edged lower against the dollar. The Stoxx Europe 600 rose 0.29% to near 8 month high. Germany\u2019s DAX 30<\/a>index closed 0.6% higher at 10752.98 despite unexpected 1.5% fall in July industrial production when a growth of 0.1% was forecast. France\u2019s CAC 40 gained 0.6% while UK\u2019s FTSE 100 added 0.3% despite a bigger than expected 0.9% decline in manufacturing in July as industrial production grew at previous month\u2019s rate of 0.1%. Today at 13:45 CET European Central Bank Interest Rate Decision will be released. No change in interest rate is expected. And at 14:30 CET the ECB press conference will start. Investors don\u2019t expect additional stimulus measures after this meeting, though some anticipate a change in rules for the bank to be able to continue to purchase assets beyond the central bank\u2019s self-imposed limit.<\/p>\n

Asian stocks<\/b> are mixed today with Chinese stocks advancing after unexpected trade data.<\/p>\n

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Chinese imports rose 1.5% in August from a year ago instead of expected 5.7% drop, while exports fell 2.8%, less than the expected 4%. Hong Kong\u2019s Hang Seng Index is up 0.6% with Shanghai Composite Index 0.1% higher. Australia\u2019s S&P ASX 200 closed 0.66% lower as Australian dollar strengthened. Nikkei fell 0.3% today as yen edged higher against the dollar and Bank of Japan Deputy Governor Hiroshi Nakaso said the central bank will not rule out deepening negative interest rates.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

Market Analysis provided by IFCMarkets<\/a><\/p>\n

Note:
\nThis overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or \u0430 recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.<\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets US stocks ended slightly lower on Wednesday after the release of moderately positive Beige Book report by Federal Reserve provided some support for a rate hike likelihood soon. The dollar edged higher against major currencies. Live dollar index data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-95300","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/95300","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=95300"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/95300\/revisions"}],"predecessor-version":[{"id":95308,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/95300\/revisions\/95308"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=95300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=95300"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=95300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}