Given euro a boost.

Also

  • ESM gaining banking license is ongoing discussion
  • ECB not talking about negative deposit rate for now (that’s a shame)
  • Negative interest rates on deposits might have some technical problems
  • Growth dynamics in euro zone lower than was expected at beginning of year
  • Inflation also tends to be lower than previously expected
  • ECB sees no deflation perspective

EUR/USD up at 1.2095 having spiked as high as 1.2115 (EBS) after Nowotny comments hit Bloomberg.

Sell orders clustered up at 1.2130/50, buy stops above there.

European stocks pretty much back to flat on the day.