Euro Trades Lower As ECB Draghi Reiterates Accommodative Policy Stance
2017年12月15日 - 12:17PM
RTTF2
The euro declined against its major counterparts in the Asian
session on Friday, after the European Central Bank President Mario
Draghi signaled that the central bank would provide ample degree of
stimulus as inflation has not shown convincing signs of a sustained
upward trend.
Speaking at a customary press conference on Thursday, Draghi
sounded cautious about inflationary prospectus and said that price
growth is forecast to remain short of its target in 2020.
"Domestic price pressures remain muted overall and have yet to
show convincing signs of a sustained upward trend," he told.
The ECB staff economic projections showed that inflation will
average 1.7 percent in 2020, below the bank's goal of just under 2
percent.
The euro dropped to a 2-day low of 1.1765 against the greenback
early in the Asian session and held steady thereafter. The pair
finished Thursday's deals at 1.1778.
The single currency weakened to a weekly low of 0.8760 against
the pound and moved sideways in subsequent part of the trading
session. At Thursday's close, the pair was valued at 0.8769.
The 19-nation currency fell to more than a 2-week low of 132.16
against the Japanese yen, compared to 132.36 hit late New York
Thursday. Further weakness may take the euro to a support around
the 131.5 region.
Quarterly Tankan survey from Bank of Japan showed that
confidence among Japanese large manufacturers increased for the
fifth straight quarter to an 11-year high at the end of 2017, as
strong exports and rising corporate profits underpin activity.
The large manufacturers' sentiment index rose to 25 from 22 a
quarter ago. This was the highest score since the end of 2006.
The euro declined to a session's low of 1.1638 against the franc
and traded sideways in the course of the session. The euro was
worth 1.1648 against the Swiss franc when it closed deals on
Thursday.
The euro slid to 1.5338 against the aussie, its lowest since
November 14. If the euro falls further, 1.52 is possibly seen as
its next support level.
The euro hit 1.6770 against the kiwi, a level unseen since
November 10. Continuation of the euro's downtrend may see it
challenging support around the 1.66 level.
The euro that closed Thursday's deals at 1.5068 against the
loonie edged down to 1.5044. On the downside, 1.49 is likely seen
as its next support level.
Looking ahead, Eurozone trade data for October is set for
release in the European session.
In the New York session, Canada existing home sales for November
and manufacturing sales for October as well as U.S. industrial
production for November are set for release.
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