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European equities ascend ahead of ECB
On Thursday, EU shares mostly grew, spurred by a record dip on Wall Street, although market participants were cautious ahead of the ECB’s highly anticipated policy verdict as well as the follow-up press conference.
The benchmark Euro Stoxx 50 acquired 0.57%, Germany’s DAX 30 rallied 0.45%, and France’s CAC 40 soared 0.30%
While the EU’s major financial institution is expected to stand pat on interest rates, market participants are seeking any probable clues as for the future of the €60 billion-a-month asset purchase initiative.
The common currency kept to 14-month peaks versus the greenback because investors awaited the decision announcement as well as Draghi’s press conference.
Meanwhile, in June British retail sales headed north more than expected, while in June German producer price inflation happened to be higher than expected.
The commodity-heavy FTSE 100 jumped 0.41% in London following strong retail data.
The US NFP will be published on August 7 at 15:30 MT time.
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
Follow the BOE monetary policy and rate statements on August 6 at 14:00 MT time…