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LGT Navigator: Solid US economy remains a support for stocks

August 6, 2018

In Asia, stock markets opened the new trading week without a clear trend, supported by a friendly close on Wall Street following a solid labor market report and China's measures to support the yuan. According to the data published last Friday, US job growth remains strong.

The ECB's cautious bias toward an interest rate turnaround, despite the announcement to end its billion-dollar bond purchase program probably at the end of this year, weakened the euro significantly. The ECB maintained its key interest rate at a record low and remained extremely cautious in its communication. At the same time, the Bank of Japan also left its key interest rates unchanged and even lowered its inflation expectations.

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