03 Jul Odilia Business Advisors – Morning Report
Odilia Business Advisors
03 July 2017
Asian stocks held two-years highs on Monday, starting the new month on a solid footing after two quarters of gains while expectations of credit tightening by the world’s central banks kept global bond markets under pressure.
Signs of stabilising in China’s economy and a recovery in the European economy helped to boost global share prices in the first half of this year. Signs of steady economic recovery, however, have prompted some of the world’s central banks to drop hints that their monetary policies could be tightened in coming months.
The dollar edged off from a nine-month low against a basket of currencies early on Monday, but it remained shaky as signs central banks in Europe were moving away from accommodative monetary policies kept the euro and sterling well bid.
The dollar index against a group of six major currencies was 0.05 percent higher at 95.675 .DXY, crawling off a nine-month trough of 95.470 plumbed on Friday.
The People’s Bank of China (PBOC) set the Yuan reference rate at 6.7772 vs. Friday’s fix of 6.7744.
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