ECB press conference now under way 25 Jan
- gives more confidence that inflation will head toward 2% target
- recent exchange rate volatility is a source of uncertainty and needs to be monitored for impact on short term price stability
Plenty of ECB talk lately on EUR moves so no great surprise in these comments
Watch it all live here
- pvt consumption buoyed by rising levels of employment
- data points to solid growth
- momentum could lead to positive growth surprises
- risks broadly based
- downside risk continues to be global outlook and FX markets
- underlying inflation subdued
- inflation to rise gradually over medium term
Inflation concerns still understandably but optimism for rising trend in medium term
EUR pairs liking it so far with nothing too dovish of note. EURUSD 1.2465 EURGBP 0.8727 EURJPY 135.70 with USD sellers prevailing too.
A few empty press seats in the house today.
