The common currency of the European Union was stable on Thursday against the world's reserve currency in anticipation of a key policy decision by the European Central Bank, according to Reuters.
The 18-nation monetary unit is poised to react to the central bank's support for development. The body's Thursday meeting comes amid regional inflation checking in at less than 1 percent.
"I don't see any reason for the equity market stopping its rise," president Bernard Delattre with Altimeo Asset Management in Paris told Bloomberg on Thursday. "The European economy is recovering, the U.S. economy is recovering. Considering the problems in emerging markets, there is a flight to quality to safer economies like Europe and the U.S. All industries, except industrial and material companies, will have a good earnings year in 2014."
European stocks surged on Thursday, advancing toward their top level in about six years, according to Bloomberg.
Of 54 Bloomberg-polled analysts and economists, 14 indicated the ECB will cut borrowing costs from the 0.25 percent where it presently stands. Eight said that reduction will fall to 0.1 percent; six said the new rate for borrowing costs will check in at 0.15 percent.
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