The yen fell to a fresh seven-year low against the dollar early on Monday, extending a massive selloff sparked by the Bank of Japan's surprise decision to boost its already huge bond-buying stimulus.
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Euro zone risks self-fulfilling loss of momentum: ECB's Coeure
The euro zone economy is at risk of slipping into a self-fulfilling loss of growth momentum, European Central Bank Executive Board member Benoit Coeure said on Sunday, underlining the ECB's readiness to act if needed.
ECB monitoring euro zone bank liquidity daily: Italy bank officials
The European Central Bank is monitoring the liquidity position of the euro zone banks under its supervision on a daily basis, Italian bank Monte dei Paschi di Siena (BMPS.MI) and two other Italian banking sources said on Friday.
Euro edges higher, stocks sag before ECB meeting
The euro edged higher and European stocks pulled back on Thursday as investors waited to see what message ECB chief Mario Draghi will send after the European Central Bank's monthly meeting, following another run of poor euro zone data.
Dollar rebounds on U.S. election, Asian shares fall
The dollar and U.S. stock futures pushed higher on Wednesday after Republicans scored a sweeping victory in U.S. mid-term elections, while Asian shares wilted and oil prices extended losses after more soft economic data from China.
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The U.S. dollar touched seven-year peaks versus the yen on Monday as markets basked in the afterglow of the Bank of Japan's surprise stimulus push and looked forward to at least a hint of fresh action from European policy makers this week.
Data from both sides of the Atlantic will give clues in the coming week on just how bad the euro zone economy is and just how sustainable is its U.S. counterpart.
The European Central Bank spent 1.704 billion euros last week on covered bonds under a new purchase program with which it hopes to foster lending to businesses and thereby support the euro zone economy.
Unless it springs a major surprise, the U.S. Federal Reserve will call time this week on its program of government bond purchases, which at one point was pumping $85 billion a month into financial markets and the economy.
Investors were spared immediate pain on Sunday after the European Central Bank's landmark banking health check did not force massive capital hikes amongst the euro zone's top lenders.
After putting the euro zone's top 130 banks through their paces, the European Central Bank will face a test of its own on Sunday - will its landmark health check succeed in convincing investors the region's lenders are safe?
German Chancellor Angela Merkel thanked ECB President Mario Draghi for spelling out to leaders at an EU summit that governments must play a role in boosting the faltering euro zone economy, and said it was their firm intention to do so.
Global stock markets were heading for their best week of the year on Friday following reassuring company results, encouraging data from the world's biggest economies and signs the ECB is upping its efforts to lift Europe.
If the European Central Bank really wants to kick-start the euro zone economy, it should ensure the bloc's banks are up to the task of lending.
