European Central Bank sees interest rates unchanged at least through 2019

European Central Bank sees interest rates unchanged at least through 2019

Gold rebounded on Friday as the dollar eased slightly and worries about a sharp global economic slowdown after the European Central Bank (ECB) slashed growth outlook were aggravated by weak Chinese data, boosting demand for the safe-haven metal.

The U.S.jobs report Friday may show hiring moderated in February. The news came a day after ECB President Mario Draghi delivered fresh stimulus as he downgraded the outlook for the euro area. Global equities were lower after the European Central Bank stoked economic growth concerns. "I think people realized it's not that bad overall". For the week, the Dow and S&P ended down 2.2 percent while the Nasdaq lost 2.5 percent.

Chinese authorities, faced with a long-running cool-off in the country's high growth, are also offering support to business, including a cut of up to 1.3 trillion yuan ($200 billion) in value-added and other taxes. "With 21 days left before the UK is expected to officially depart from the European Union, the time is tight for any structural changes while the UK House of Commons is scheduled to vote on re-negotiated Brexit deal next Tuesday". West Texas oil futures slipped toward US$56 a barrel in NY.

Stocks in emerging markets dropped the most in nearly three months.

The Euro Stoxx 50, DAX and FTSE 100 are all down by more than 0.5%.

Thursday's news sent the euro into a tailspin to hit a near two-year low against the dollar, while equity markets across Europe and the USA ended in the red.

On the week, the dollar index gained 0.8 percent.

More news: Osaka turns tables on Mladenovic, Venus rallies at Indian Wells

The euro increased 0.4 percent to $1.1233, the first advance in more than a week.

The GBPUSD pair has so far continued to see sharp declines and proceedings on Brexit talks play a major role in same.

The Japanese yen advanced 0.4 percent to 111.12 per dollar. The yield on the 10-year U.S. Treasury fell 4 basis points. That would be a slowdown from last year's 3.6 percent.

The dollar weakened 0.2% after reaching a new 2019 high against a basket of currencies that includes the euro as traders bet the U.S. would fare better than Europe in the coming months despite some soft patches in the United States economy.

West Texas Intermediate crude dropped 1 percent to $56.11 a barrel.

In early trade, London, Paris and Frankfurt each fell 0.7 percent.

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