Policy Makers: The European Central Bank cut its deposit rate deeper into negative territory on Thursday, in an effort to boost inflation in the euro region, it announced on Thursday.
The ECB said it was lowering its deposit facility rate to -0.3% from -0.20%, in line with market expectations. The central bank left its benchmark interest rate at a record-low 0.05%, also matching expectations. Meanwhile, the ECB held its marginal lending unchanged at 0.30%.
The ECB also said it was
Stock Market: U.S. stocks opened higher on Thursday after the European Central Bank cut interest rate and extended its stimulus program.
The Dow Jones industrial average (DJI) rose 47.1 points, or 0.27 percent, to 17,776.78, the S&P 500 (SPX) gained 5.02 points, or 0.24 percent, to 2,084.53 and the Nasdaq composite (IXIC) added 20.94 points, or 0.41 percent, to 5,144.16.
Economic Indicators: The number of Americans filing for unemployment benefits rose last week, but remained at levels consistent with a strengthening labor market.
Other data on Thursday showed planned job cuts in November were the lowest in 14 months, with the purge in the oil sector appearing to be slowing. Initial claims for state unemployment benefits increased 9,000 to a seasonally adjusted 269,000 for the week ended Nov.28, the Labor Department said on Thursday.
Forex: The euro rallied against the dollar and the other major currencies on Thursday as fresh stimulus measures unveiled by the European Central Bank after its closely watched policy meeting fell short of market expectations.
EUR/USD jumped 1.98% to 1.0824 after falling to 1.0577 earlier, not far from Wednesday’s seven-and-a-half month trough of 1.0549.
Commodities: Gold prices turned higher on Thursday, as the euro surged against the dollar after European Central Bank President Mario Draghi announced no new QE measures at the conclusion of the ECB's policy-setting meeting.
The euro soared more than 2% against the dollar, while the dollar index, which measures the greenback's strength against a basket of other major currencies, crashed 1.5% to 98.53.
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