Asia stocks up after ECB signals easing, oil extends rally
- 8 years ago
Asian stocks gained early on Friday, after the markets were given some breathing space when the European Central Bank hinted of more monetary policy easing, while crude oil extended an overnight rally.
The ECB managed to contain some of the pessimism for the time being after ECB President Mario Draghi hinted strongly on Thursday that more easing could be coming within months.
"Many economists believed he would avoid making specific comments about more policy action but as we pointed out, the 3-cent rise in the euro and decline in oil prices since December encourages the ECB head to be characteristically dovish," wrote Kathy Lien, managing director of FX strategy for BK Asset Management.
The ECB managed to contain some of the pessimism for the time being after ECB President Mario Draghi hinted strongly on Thursday that more easing could be coming within months.
"Many economists believed he would avoid making specific comments about more policy action but as we pointed out, the 3-cent rise in the euro and decline in oil prices since December encourages the ECB head to be characteristically dovish," wrote Kathy Lien, managing director of FX strategy for BK Asset Management.