Arab Today, arab today euro closer to us dollar parity
Last Updated : GMT 05:46:22
Arab Today, arab today
Arab Today, arab today

Euro closer to US dollar parity

Arab Today, arab today

Arab Today, arab today Euro closer to US dollar parity

The euro
London - AFP

The euro edged closer to parity with the dollar Thursday, in a boost to eurozone exporters battling deflation risks at home.
The euro dropped to $1.0495 -- the lowest level for more than 12 years. It later stood at $1.0618, up from $1.0548 late on Wednesday in New York.
On stock markets in afternoon European trade, Frankfurt's DAX 30 index dipped 0.07 percent to 11,797.18 points a day after surpassing 11,800 for the first time.
The CAC 40 in Paris eased 0.02 percent to 4,996.51 points, while London's FTSE 100 index of leading companies jumped 1.0 percent to 6,789.62 compared with Wednesday's close.
"The London market is outperforming its European counterparts as easing rumours out of China have made mineral stocks move higher, following heavy losses in recent sessions," said David Madden, market analyst at IG trading group.
"Beijing is looking to relax its lending policies to stimulate economic activity and this has given a second wind to the battered mining sector."
The euro, which has shed about 13 percent of its value this year, has meanwhile been losing further ground in recent days as the ECB has embarked on a policy of so-called quantitative easing.
The QE stimulus plan will see it buy 1.14 trillion euros worth of bonds over the next 18 months. The aim is to pump liquidity into the system so as to ward off deflation and spur growth in the single currency area.
"A clear pattern has emerged in the financial markets concerning stock indices and the euro-dollar currency pair," said Fawad Razaqzada, technical analyst at Forex.com trading group.
"The major euro-based stock indices, such as Germany's DAX, have rallied... as a weaker euro means more profits for German exporters."
But QE has its critics, particularly in Germany, who argue that it reduces the pressure on eurozone governments to get their finances and economies in order.
- 'Toxic' problems for eurozone -
"The combination of Greece’s renewed problems and the onset of deflation is a very toxic one for the eurozone," Jonathan Loynes, analyst at Capital Economics research group, said in a note to clients.
"At best, it is likely to keep economic growth in the region fairly subdued. At worst, it could fully re-ignite the crisis and blow the currency union apart."
Officials from Greece's creditors returned to Athens Thursday for their first time since the Syriza party came to power, with the radical new government denying it had allowed back the hated "troika" it had vowed to shun.
Athens -- which has been scrabbling for cash to meet its next major debt repayments -- insisted it had not been strong-armed into submission.
The ECB has meanwhile bought 9.8 billion euros ($10.4 billion) in eurozone bonds in the first three days of its programme to ward off deflation and stimulate growth, a senior official said Thursday.
Standing apart from the rest was Ireland, whose economy powered ahead at the fastest rate in the European Union last year, as the eurozone nation staged a strong recovery after exiting its bailout programme, data showed Thursday.
Irish gross domestic product soared 4.8 percent in 2014, after the nation emerged from an international bailout in late 2013, the Central Statistics Office (CSO) said in a statement.
That was far higher than the EU average of 1.3 percent and the eurozone average of just 0.9 percent.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today euro closer to us dollar parity Arab Today, arab today euro closer to us dollar parity

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures

GMT 16:11 2017 Thursday ,23 February

Bahrain Bourse daily trading report

GMT 16:08 2017 Thursday ,23 February

BHB holds VAT seminar

GMT 13:40 2017 Thursday ,23 February

Muscat Securities Market loses 17 points

GMT 13:18 2017 Thursday ,23 February

Bahrain Bourse daily trading report

GMT 05:51 2017 Thursday ,23 February

Saudi stocks edge up as Brent futures rebound

GMT 20:48 2017 Wednesday ,22 February

Dividend announcements drive Muscat bourse

GMT 16:56 2017 Wednesday ,22 February

Global gold prices drop

GMT 16:01 2017 Wednesday ,22 February

Tadawul edges down 0.2%
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday