London (Reuters) - the euro kept close to a maximum of 17 months against the dollar and the stock markets hugged recent levels Thursday as investors expected the European Central Bank to give advice on future interest rate increases.
Market shares were also the suspension of the recent losses in the signs that long-term investors are more cautious on economic growth.
The eyes were also on the market products with copper hit a low of seven weeks and the money which extends losses that reached nearly 20% this week.
For many, while Thursday was a case of listening to the magic words - waiting to see if the ECB President, Jean-Claude Trichet pointing to an increase in rates in June stating "strong vigilance" in a later press the session Conference.
The ECB has raised interest rates in April, not only the launching of a programme to combat the inflation of signalling, but create expectations of rate spreads between the Bank and other authorities, including the United States Federal Reserve.
No change in rate of the euro area should be Thursday. #
The higher returns available in the euro area and elsewhere, as the Australia have weakened the dollar.
It was decreased 0.2% against a basket of major currencies
on Thursday, while the euro was trading up to approximately $1.48.
Traders, said that if Trichet repeats the words "strong vigilance", the euro would push back above $1.49. But, even if it leaves out, the currency is not seen probably in the fall of many current levels given existing rate differences.
Specialists of currency FxPro said in a note that the euro area has been booming despite the intense pressure.
He said "restructure a possible Greek debt, a Portuguese rescue plan, a significant decrease in the price of Spanish real estate, a Finnish electoral revolt against bailouts--all have been essentially ignored by the single currency".
The firm said that it is at interest rates, a German economic force and a growing demand for managers of Asia FX reserve for something other than the dollar "fragile".
EQUITIES FLOAT
World stocks lisérés slightly higher after recent losses, aided by Europe.
The 300 FTSEurofirst increased 0.2 percentage after the decline of 1.4% Wednesday, wounded by low concern U.S. economic data on China's growth prospects and the results of the forecast-lagging company.
"Falls of yesterday were strong enough and I expect today, there are bottom fishing, said Colin McLean, Director of the Cabinet of SVM in Edinburgh Fund.".
Data Wednesday showed more low U.S. private hiring than expected in April and a cooling of growth of the tertiary sector U.S..
Euro area bond yields were slightly higher ahead of the meeting of ECB and Trichet press conference.
(Other reports by Ian Chua, Eric Burroughs and Joanne Frearson;) (Editing by John Stonestreet)
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