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Forex News by DailyFX

Published on 9 Mar 2017

The European Central Bank left rates and Asset purchases on hold at its monthly meeting.
But in a hawkish move, it removed the pledge to use “all the instruments at its disposal” if necessary to achieve its mandates.

Mario Draghi says this has been dropped because the “sense of urgency” has gone, suggesting the ECB is less worried about the situation. Jeremy Naylor looks at the impact on the euro.

Among the stocks moving in Europe, William Morrison, the UK retailer reported a near 50% jump in pretax profits but warned of the “impact on imported food prices if sterling stays at lower levels”.
BMW is a big mover in Germany, but its shares do not reflect the record revenue it reported. With profitability at the lowest level since 2010 shares dropped around 4%. Since a high in March 2015, BMW shares have fallen by nearly a third.

Jeremy also looks at oil which has fallen below $50 for the first time this year.
Data from the U.S. Energy Information Administration revealed an 8.2 million barrel increase in domestic crude supplies for last week, lifting total commercial inventories to a record weekly level of 528.4 million barrels. The weekly climb was the ninth in a row.

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