Economic News
Shift in 'forward guidance' was not discussed on Thursday, ECB chief Draghi says
European Central Bank chief Mario Draghi left the door open to further policy easing, sending the euro slightly lower, albeit while noting that the balance of risks had moved towards a "more balanced configuration".
ECB policy decision - Analysts react
"In June we expect a change to a less dovish and more symmetric forward guidance that would open the door for depo rate hikes in 2018. In particular, we would expect modifications possibly to both the forward guidance on rates and on QE by removing the explicit reference in the statement to a scenario with lower rates and/or higher QE. " - Philippe Gudin, Antonio Garcia Pascual, Barclays Research.
FX round-up: Sterling sails higher on UK retail data, ECB rate call
Sterling sailed higher on most key crosses Thursday as investors liked the currency after pleasing UK retail data, European Central Bank holding interest rates and last night's US tax-reform disappointment.
London close: Resources weakness, US tax-reform hangover and ex-divs punish FTSE
Equities in London were punished lower on Thursday as pronounced weakness among mining and oil majors, a US tax-reform hangover, and a bundle of ex-dividend shares all told against the FTSE.
Commodities: Crude futures slump on reports of two Libya oilfields resuming output
Crude-oil futures slumped more than 2% on Thursday afternoon as a report said two key oilfields in Libya have resumed pumping against a backdrop of rising US shale output and the now chronic global glut.
Merkel warns UK not to approach Brexit talks with "illusions"
German chancellor Angela Merkel has warned that British people should not harbour "illusions" about the country's fate in the aftermath of Brexit.
US pending home sales drop less than expected in March
US pending home sales fell less than expected in March, according to data from the National Association of Realtors.
US initial jobless claims unexpectedly rise
The number of Americans filing for unemployment benefits unexpectedly rose last week, according to data from the Labor Department.
Brent futures drop after as Libya's Sharara oilfield comes back online
Crude oil futures dropped following a report that a key oilfield in Libya had restarted production.
Worsening consumer confidence threatens economic growth and Tory election result
British consumer confidence weakened over the last month even as business confidence strengthened, as both sides eyed rising inflation but softening economic growth.
Orders for US durable goods edge past forecasts in April
Orders for goods made to last more than three years edged past forecasts on the back of stronger demand for military aircraft.
Analysts divided on Trump tax cut proposals
Economists were optimistic that some form of tax relief would pass Congress in 2017, despite the lack of detail in the White House's proposals announced overnight.
Trump backtracks on Nafta withdrawal vow in favour of renegotiation
US President Donald Trump has ruled out the departure of the country from the North American Free Trade Agreement, despite previously pledging to withdraw from the deal.
ECB keeps all rates on hold, leaves door open to further easing
The European Central Bank kept all its policy interest rates unchanged, reiterating that rates might yet go lower still and that quantitative easing could be extended beyond the current scheduled end-date of December 2017, if necessary.
Retail sales grow at fastest pace since September 2015 - CBI
Retail sales grew at the fastest pace since September 2015 in the year to April, according to the Confederation of British Industry's latest monthly Distributive Trades Survey.
Wealthy people should be ineligible for pensions, OECD says
State pensions in the UK should not be handed out to wealthy people in order to ensure that benefits for those on the lower end of the pay scale can be given out, the Organisation for Economic Co-operation and Development has said.
German consumer confidence strengthens more than forecast in May
Germans were in more buoyant spirits in April amid significant increases in income expectations and for the economy with further improvement expected, the results of a widely-followed survey showed.
Tourism boosts Spanish consumer prices for April
Spanish consumer prices rose past forecasts in April, pushed higher by tourism prices as a result of the Easter holidays and a higher cost of electricity versus a year ago.