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Euro on Shaky Ground, Stocks up on Talk of Aggressive ECB Easing

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The euro slipped back towards seven-month lows, bond yields fell and European shares rallied on Thursday as talk of aggressive stimulus from the European Central Bank next week gained ground.

The pan-European FTSEurofirst 300 index rose 0.8 percent, adding to Wednesday’s 1.4 percent gain, while the Euro STOXX 50 index was up 1.2 percent.

The firm gains came as Wall Street shares closed flat overnight in a pre-Thanksgiving holiday lull and Asian stocks closed modestly higher. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5 percent.

Euro zone central bank officials are considering options such as staggered charges on banks hoarding cash and buying more debt ahead of next week’s ECB meeting, Reuters reported on Wednesday.

That fueled talk that the central bank is getting ready for aggressive measures to lift inflation and economic growth in the 19-member euro zone.

Reuters

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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