German Ifo data short of expectations Focus on Fed meeting ending Wednesday Bitcoin reclaims $50,000 bar Turkish lira close to all-time low
LONDON, April 26 (Reuters) - The euro held at an eight-week high against the dollar on Monday despite a disappointing sentiment survey in Germany as expectations the U.S. Federal Reserve will maintain its dovish stance at a policy meeting weighed on the greenback.
German business morale improved by less than expected in April as a third wave of COVID-19 infections and problems with supply of components in the industrial sector slowed a recovery in Europe’s largest economy.
“Both the third wave of infections and bottlenecks in intermediate products are impeding Germany’s economic recovery,” Ifo President Clemens Fuest said in a statement.
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LONDON (Reuters) - Stocks gave up early gains on Monday as confidence that economies are recovering rapidly was overshadowed by caution over the speed of the market’s rally and ahead of a U.S. Federal Reserve policy meeting.
FILE PHOTO: The front facade of the New York Stock Exchange (NYSE) is seen in New York, U.S., February 16, 2021. REUTERS/Brendan McDermid/File Photo
The start to the week was quiet as investors refrained from taking on large positions before a two-day Fed meeting that will begin on Tuesday and the impending release of quarterly gross domestic product numbers for the United States.
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SYDNEY (Reuters) - Asian stocks climbed to six-week highs on Monday amid signs the world economic recovery was still well on track, though rising COVID-19 cases in the region weighed on sentiment, pushing oil prices lower.
FILE PHOTO: A man is reflected on a stock quotation board in Tokyo, Japan February 26, 2021. REUTERS/Kim Kyung-Hoon
Futures for Eurostoxx 50 were flat as were those for Germany’s DAX while London’s FTSE futures were a shade weaker. E-mini futures for the S&P 500 were barely changed.
The mood was relatively upbeat in Asia where MSCI’s broadest index of Asia-Pacific shares outside Japan reached its highest since March 18, despite a late sell-off in Chinese shares.