Asian stocks resume ascent on support from USA earnings optimism

DailyFX US AM Digest US Dollar at Three Year Low versus the Euro

The release of last month's meeting minutes of the European Central Bank (ECB) and weekly jobless claims in the US helped lift gold prices on Thursday at the expense of the dollar.

The German DAX declined 0.6% and France's CAC 40 index slid 0.3% while the UK's FTSE 100 edged up 0.2%.

The pan-European FTSEurofirst 300 index lost 0.26 percent and MSCI's gauge of stocks across the globe gained 0.38 percent.

Indeed, while policymakers suggested a gradual and careful shift, they argued for a guidance comprising the broader policy stance, a move that would signal the declining importance of bond buys and seen by some as a precursor to ending asset buys.

While minor on the face of it, such a result could devalue the Euro as it would be a move away from the European Central Bank's (ECB) 2% inflation target.

After publishing the research, Mr Khan said: "The analysis concludes that the harder the Brexit we end up with, the bigger the potential impact on jobs, growth and living standards".

Going back to the euro's surge, the European Central Bank has been reportedly going to "revisit" their stance regarding the vast monetary stimulus program.

DailyFX US AM Digest US Dollar at Three Year Low versus the Euro
Asian stocks resume ascent on support from USA earnings optimism

"S$3 everal external factors have worked against us during 2017, including a hard USA retail climate as well as an unfavorable currency development", said Pandora CEO Anders Colding Friis in a statement. Euro to US Dollar Slide Possible on Next Week's Inflation Rate StatsLooking ahead, the Euro could lose ground to the US Dollar on 17th January, when December's Eurozone inflation rate figures come out.

Tesco PLC (TSCO.LN) (TSCO.LN) fell 4.3%. Receipts are expected to add 0.5 percent from the prior month, marking a slight slowdown from the prior month but registering near the trend average. Britain's largest supermarket chain said it's confident in its outlook for fiscal 2018, after like-for-like United Kingdom sales rose 1.9% (http://www.marketwatch.com/story/tesco-sales-rise-at-christmas-2018-01-11) during the Christmas period.

The shared currency has risen roughly 0.8% against the greenback this week.

German auto maker Volkswagen AG (VOW.XE) (VOW.XE) picked up 0.7%. Output was up 3.2% on the year, Eurostat said.

In terms of retail sales, those are expected to grow at a slower pace in December after expanding by 0.8% in the month that preceded, far outstripping expectations and pointing to a robust economy. Economists polled by The Wall Street Journal projected slightly higher growth of 2.3%.

Vivendi SA shares (VIV.FR) fell 1.1%, with the French media group saying it foresees 2017 growth of 20% to 25% (http://www.marketwatch.com/story/vivendi-confirms-it-expects-20-25-earnings-growth-2018-01-12) in earnings before interest, taxes and amortization.

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