Markets were focused on Europe today, where the Bank of England and the European Central Bank both released their rate decision, as the BOE left the benchmark interest rates unchanged at 0.50 percent in line with expectations, while the ECB raised interest rates by 25 basis points also in line with expectations, nevertheless, both central banks signaled rising risks of inflation.
Meanwhile, the U.S. Labor Department released the jobless claims for the week ending April 2, where jobless claims fell below expectations in yet another sign that labor market conditions are improving in the United States.
The U.S. Dollar index was little changed today, while stock markets in the United States were fluctuating during the opening hour, but soon dropped after news emerged that a 7.4 magnitude earthquake hit Japan, where the Dow Jones Industrial Average dropped nearly 0.50 percent, and the S&P 500 index dropped 0.30%. Meanwhile, European stock indexes were mixed before closing.
Moreover, gold prices were little changed after setting a new all-time record high at $1465.16 an ounce, while oil prices were little changed after rising to the highest level since August 2008 at $109.41 earlier today.
Originally posted here
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