- Sees a very slow recovery in the eurozone
- Second quarter GDP confirmed ECB expectations
- PMIs ‘suggest we are in expansionary territory’
- ECB’s baseline scenario is an optimistic one
- Chance of catastrophic scenarios drastically down
Euro traders agree as they pry 1.34 one again. Stock markets aren’t so sure.
Update:
- German Q3 will be ‘somewhat weaker’ than Q2
- Germany is in robust shape, without any doubt
- Will do whatever it takes to defend euro
