Euro Soars To 3-Year High As German Coalition Talks Show Progress

Global Markets Stocks resume ascent on earnings hopes euro gets lift from ECB

While the USA central bank has indicated that it sees three rate hikes this year, markets appear to be expecting fewer hikes given lagging inflation.

And now sterling has fallen by 0.5 percent against the euro, after the ECB's most recent announcement.

The US dollar index traded marginally lower on Friday, extending the notable losses it posted on Thursday on the back of weaker-than-expected US producer price data and a stronger euro.

Even though such signals are not particularly new, as several ECB policymakers have already expressed their desire to see the Bank adjust its policy language soon, this was the first time an official ECB communication suggested as much.

Vivendi SA shares (VIV.FR) fell 1.1%, with the French media group saying it foresees 2017 growth of 20% to 25% (http://www.marketwatch.com/story/vivendi-confirms-it-expects-20-25-earnings-growth-2018-01-12) in earnings before interest, taxes and amortization.

The Euro US Dollar (EUR/USD) exchange rate struck a three-year high this morning following the news that coalition talks in Germany have finally made some progress.

The U.K.'s FTSE 100 index logged a record close by rising 0.2% to 7,762.94.

On Wednesday's trading session, the Euro to US Dollar exchange rate saw a minimal rise.

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China's imports from North Korea plummet in December, lowest for four years
Analysts at Nomura say continued global growth may offer support, while possible U.S. protectionism could weigh on exports. Exports grew 10.9 percent year-on-year in December, data from the General Administration of Customs showed Friday.

Trump says he doesn't think Winfrey will run
President Donald Trump's daughter Ivanka is endorsing Oprah Winfrey's message, if not a political future, in a recent tweet. House Minority Leader Nancy Pelosi, D-Calif., noted that Winfrey, like Trump, lacks any kind of governing experience.

With euro zone output eliminating spare capacity this year, policymakers argued that no further easing in financial conditions was needed, and some even warned about the European Central Bank falling behind the curve.

The kiwi gained to 4.7080 Chinese yuan from 4.6838 yuan on Thursday after the Chinese government quashed speculation it was considering cutting its purchases of US Treasuries.

The currency world showed signs of emerging from its low-volatility stupor this week after the Bank of Japan and the European Central Bank surprised traders with messages on their bond-buying policy that fueled rallies in the euro and yen.

Italy's 10-year government bond yield was down 8 basis points at 1.98 percent and the spread over the German equivalent was at its tightest since mid-December at 146 basis points at one stage.

The program was launched three years ago and since then, the ECB's portfolio of assets has ballooned to the realm of trillions of Euros. The increase was the biggest single-day percentage gain against eh stronger dollar for over two-month.

USA gold futures for February delivery settled up $3.20, or 0.2 percent, at $1,322.50 per ounce. Despite this pullback, both WTI and Brent are still hovering near multi-year highs, amid declining United States crude inventories, the extremely cold weather observed in the USA recently, and the OPEC-led supply curbs.

Brent crude prices hit $70 a barrel on signs of tightening crude stocks but settled off that level on Thursday, while a jump in energy shares helped lift USA stocks.

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