NEW YORK: The euro notched a two-week high against the dollar yesterday and global shares edged higher after the head of the European Central Bank reiterated a commitment to preserve the euro.
US data showing the number of Americans filing new claims for unemployment benefits rose less than expected last week added to a positive tone in equity markets. Oil prices rebounded a day after registering a steep fall as escalating tensions between Syria and Turkey raised concerns over supplies from the Middle East.
The euro rose 0.8 percent to $ 1.2999. It earlier traded as high as $1.3012, the highest level since Sept. 21. Against the yen, the euro gained 0.7 percent to 101.97 yen. US stocks rose for a fourth session, with financial shares leading the advance, buoyed by Draghi's remarks. The S&P financial index rose 1.2 percent.
The Dow Jones Industrial Average rose 65.07 points, or 0.48 percent, to 13,559.68. The Standard & Poor's 500 Index gained 7.07 points, or 0.49 percent, to 1,458.06. The Nasdaq Composite Index added 1.86 points, or 0.06 percent, to 3,137.09. The MSCI global stock index edged up 0.6 percent to 335.08. Europe's FTSEurofirst 300 index closed down 0.1 percent at 1,099.57, weighed by the gloomy economic sentiment in Europe.
Speculation the jobs data will show stronger-than-expected growth in September weighed on Treasury prices. The benchmark US 10-year note was down 7/32, its yield rising to 1.6387 percent.
Also in focus was the Federal Reserve's release of minutes from its Sept. 12-13 policy meeting at 2 p.m. (1800 GMT).
Brent crude rose $ 2.8 to $ 110.45 per barrel, after falling to its lowest since Sept. 20 on Wednesday. US crude rose $2 cents to $ 90.15, after dropping to its lowest since Aug. 3 in the previous session. Spot gold rose to an 11-month high of $ 1,794.40 and last traded at $ 1,790.99 an ounce.
Euro hits 2-week high; oil, gold rise
