MARKET WRAP: ECB Leaves Monetary Policy Unchanged; Trade War Remain A Major Risk

*The ECB left the powder dry, no change in the interest rate. *Investors are doubtful if European Central Bank can revive the growth


  • The S&P 500 Index dropped 0.2% to 2,825.90 as the trade war issues remain a major talking point among investors.
  • The Stoxx Europe 600 Index jumped 0.15% after the ECB showed its dovish monetary policy stance which triggered a risk on trade.
  • The MSCI Asia Pacific Index trade mostly flat.
  • The Dollar Spot Index still remained under the influence of the Fed’s dovish stance and the focus remain on the upcoming US NFP data. It dropped 0.32%.
  • The Euro recovered further losses despite the ECB moved its rate hike calendar. It jumped 0.36% to $1.1271.
  • The Japanese yen gained 0.2% to 108.18 per dollar.
  • The yield on 10-year Treasuries dropped another four basis points to 2.09%.
  • Germany’s 10-year yield advanced less than one basis point to -0.22%.
  • Britain’s 10-year yield fell two basis point to 0.841%.
  • The shinning metal gained 0.71 percent and it is on its way to kiss the resistance of 1350.
  • West Texas Intermediate crude is still in the bear market territory but moved higher by 0.68% to $51.69 a barrel.