Friday, 15 June 2018
Asian markets climbed on Friday, tracking gains seen in European and U.S. stocks in the last session. Clues from the European Central Bank on Thursday on its bond-buying program also led to major moves in currency markets overnight.
The European Central Bank on Thursday indicated plans to wind down its quantitative easing program. The bank said that if incoming data followed its forecasts, its monthly bond purchase program would be extended through to the final quarter of the year, though at a lower pace.
The ECB said its current 30 billion euros in monthly purchases would be halved to 15 billion euros in the last three months of the year. In addition, the central bank indicated that a rate hike would be unlikely before the summer of 2019.
The dollar, meanwhile, was broadly higher, with the dollar index last at 94.943. The People’s Bank of China (PBOC) set the Yuan reference rate at 6.4306 vs previous day’s fix of 6.3962.
On the energy front, Brent crude futures edged up by 0.14 percent to trade at $76.05 per barrel after settling lower in the last session amid the stronger dollar. U.S. West Texas intermediate crude added 0.27 percent to trade at $67.07.
Source : Reuters