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Worlds stocks rise on ECB, Fed hopes; euro falls

Reuters - Jul 30, 2012

Global stocks rose on Monday on expectations that the European Central Bank and the U.S. Federal Reserve will take measures to support struggling economies when they meet this week, but the euro slid against the dollar on worries that the central banks will act less aggressively than hoped.

There are strong expectations that the ECB will act forcefully to rein in the euro zone's debt crisis when it meets on Thursday, after ECB President Mario Draghi's comments last week that the central bank would do whatever it takes to preserve the euro.

But there is more skepticism about what the Fed will do at its two-day meeting that begins on Tuesday. Many economists believe the U.S. central bank will wait until September to provide more stimulus to a faltering U.S. economic recovery.

The cloudy outlook on just what the central banks will do this week also weighed on U.S. stocks on Monday.

Read Full Article from Reuters

- Posted: 2012-07-30 17:59:05

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