European Central Bank and International Markets

international markets: And the Australian share market looks set to open higher after international markets gained amid respite from volatile Chinese markets, closed for a holiday and ahead of a US jobs market report likely to shape the Federal Reserve interest rate decision, according to Nine News Australia. FRANKFURT - The European Central Bank has cut its forecasts for both economic growth and inflation in the single currency area over the next few years. At 0630 AEST on Friday, the currency was trading at 70.10 US cents, down from 70.16 cents on Thursday. FRANKFURT - The European Central Bank has held its key interest rates steady amid investor concern over the economic fallout from the slowdown in China. WASHINGTON - The International Monetary Fund says the US Federal Reserve has the room to hold off raising interest rates for the moment amid a "pretty bumpy" global economic situation. WASHINGTON - The US trade deficit narrowed in July as exports increased and imports fell sharply, led by a decline in consumer goods, the Commerce Department reports. (news.financializer.com). As reported in the news.