European Central Bank officials cautious despite recovery

European Central Bank officials cautious despite recovery

In the meantime, the Platinum Group Metals continued to move in opposite directions.

But growth is into its fifth year, employment is at a record high and convergence between the 19-member currency bloc's core and periphery has restarted, all pointing to unabated growth and a declining need for central bank help.

Markets jumped on the potential for such a move.

Wall Street futures pointed to a modest rise after NY had suffered its first down day of the year on Wednesday.

That means the European Central Bank expects to start alerting the market in advance that a change of policy is justified.

The kiwi was little changed at 60.21 euro cents from 60.14 cents yesterday, and ANZ's Zollner said the prospect of tighter monetary policy in Europe earlier than expected should cap the cross, which has support at 58.80 euro cents and faces resistance at 60.80 cents.

Now, economists believe the European Central Bank could change its course because of a small adjustment in its usual post-meeting statement. The Euro Stoxx 50 index of eurozone blue chip stocks decreased 0.40 percent, while the Stoxx Europe 50 index, which includes some major United Kingdom companies, lost 0.33 percent.


Economic growth in the Eurozone picked up markedly over 2017, avoiding a clutch of political obstacles to post growth of 2.6 per cent year-on-year in the third quarter. The index is used as a measure of wholesale price inflation. The greenback was primarily weighed down by the stronger euro.

A robust USA inflation report boosted Treasury yields.

For the second consecutive week, the Labor Department released a report on Thursday showing an unexpected increase in first-time claims for USA unemployment benefits.

European markets also finished the day higher yesterday with the DAX inching closer to its record highs of last year, while the French CAC40 made its highest daily close in 10 years. Of course, China may only be disputing the news about cutting back on buying USA bonds in order to unload their Treasurys at better prices.

Bitcoin had taken a major beating overnight, falling as much as 11 percent as South Korea - one of the cryptocurrency's biggest markets - said it was drawing up laws to ban trading in it. Regulators are concerned that speculation is becoming rampant and threatening the stability of exchanges and financial institutions.

In commodities, oil prices rose for a sixth day after Russia's oil minister said global crude supplies were "not balanced yet", alleviating market concerns about a wind-down of the OPEC-led deal to reduce production.

The dollar index is suffering from the massive receding producer prices in the US; according to reports, the producer prices have not seen this kind of drop for nearly one and a half year in December and this is also in the midst of lower costs for services.

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