The dollar is gaining ground against both the Euro and the pound sterling Friday afternoon, but is basically flat in comparison to the Japanese Yen. The lack of U.S. economic data and the near absence of global economic data has investors kept the focus of investors where it has been for the past few day, on the central banks. Dovish comments from European Central Bank President Mario Draghi are responsible for the dollar’s strength against its top European rivals.
In remarks to the Frankfurt European Banking Congress, Mario Draghi pledged that the ECB would do what it must to raise inflation as quickly as possible.
“At the December Governing Council meeting we will thoroughly assess the strength and persistence of the factors that are slowing the return of inflation towards 2 percent,” Draghi said.
He added, “If we conclude that the balance of risks to our medium-term price stability objective is skewed to the downside, we will act by using all the instruments available within our mandate.”
Draghi’s remarks were seen as a sign that the ECB may ramp up its asset purchase program following its meeting next month.
The monetary stimulus measures already taken by the European Central Bank need more time to have a real impact on the Eurozone economy, but maintaining ultra-loose policy for a long time raises the risk of losing their efficiency, the bank’s policymaker Jens Weidmann said Friday.
“We need to be aware that the longer we stay in ultra-loose monetary policy mode, the less effective this policy will become and the more the attendant risks and side-effects will come into play,” Weidmann, who heads Germany’s Bundesbank, said in a speech at the 25th European Banking Congress in Frankfurt.
He pointed out the exuberance in some financial markets and the problems faced by life insurers as examples.
“We should not ignore the risk that fiscal policy could get used to the very low interest rates,” Weidmann added.
The dollar has climbed to around $1.0650 against the Euro Friday afternoon, from Thursday’s 4-session low of $1.0760.
Germany’s producer prices declined at the fastest pace since early 2010, data published by Destatis showed Friday.
Producer prices decreased 2.3 percent in October from last year, the biggest fall since February 2010, when prices declined 3 percent. Producer prices have been falling since August 2013. Economists had forecast prices to fall 2 percent after easing 2.1 percent in September.
The buck has risen to around $1.5190 against the pound sterling, from yesterday’s 2-week low of $1.5335.
U.K. public sector net borrowing, excluding public sector banks, increased unexpectedly in October, figures from the Office for National Statistics showed Friday. The PSNB, excluding public sector banks, climbed to GBP 8.2 billion in October from GBP 7.1 billion in the same month last year. Meanwhile, it was expected to narrow to GBP 6.0 billion.
Japan’s economy is expected to continue recovering moderately, the Bank of Japan said in its monthly report on Friday.
The bank reiterated that exports and industrial production are set to remain more or less flat for the time being, but after that, they are likely to increase moderately.
The greenback reached an early high of Y123.052 against the Japanese Yen, but has since eased back to around Y122.840, nearly unchanged for the session.
Wonderful blog! I found it while browsing on Yahoo News. Do you have any suggestions on how to get listed in Yahoo News? I’ve been trying for a while but I never seem to get there! Cheers
Hey there are using WordPress for your site platform? I’m new to the blog world but I’m trying to get started and create my own. Do you need any coding expertise to make your own blog? Any help would be really appreciated!
This design is incredible! You obviously know how to keep a reader amused. Between your wit and your videos, I was almost moved to start my own blog (well, almost…HaHa!) Wonderful job. I really enjoyed what you had to say, and more than that, how you presented it. Too cool!
Hi there, i read your blog from time to time and i own a similar one and i was just wondering if you get a lot of spam comments? If so how do you protect against it, any plugin or anything you can suggest? I get so much lately it’s driving me crazy so any help is very much appreciated.
I do not know if it’s just me or if everyone else experiencing issues with your site. It appears as if some of the written text on your posts are running off the screen. Can somebody else please provide feedback and let me know if this is happening to them too? This may be a problem with my web browser because I’ve had this happen before. Cheers
Hi there! Do you know if they make any plugins to protect against hackers? I’m kinda paranoid about losing everything I’ve worked hard on. Any suggestions?
My partner and I absolutely love your blog and find most of your post’s to be exactly what I’m looking for. Do you offer guest writers to write content to suit your needs? I wouldn’t mind publishing a post or elaborating on many of the subjects you write related to here. Again, awesome web log!
Hi! I know this is kinda off topic but I’d figured I’d ask. Would you be interested in exchanging links or maybe guest writing a blog post or vice-versa? My site discusses a lot of the same topics as yours and I feel we could greatly benefit from each other. If you might be interested feel free to shoot me an email. I look forward to hearing from you! Great blog by the way!
Hey there! I know this is kind of off topic but I was wondering which blog platform are you using for this website? I’m getting fed up of WordPress because I’ve had problems with hackers and I’m looking at alternatives for another platform. I would be fantastic if you could point me in the direction of a good platform.
‘Chennai Express’ had a changed Rohit Shetty sensibility (we’ll take
you to south India, and have characters yak away in Tamil less interpretation,
and on the off chance that you don’t see, too terrible) and
SRK’s capacity to send himself up, and conveyed some measure of new fun.
If you love old black, and white films, and Paul Newman. It’s good for quickly and easily making a video and
uploading to You – Tube, but not for anything close to the kinds of serious editing you can do with classic versions of Movie Maker.