ECB releases its economic bulletin for April
- Ample degree of accommodation is still needed
- Risks to Eurozone growth outlook remain tilted to the downside
- Information since March confirms slower growth momentum
Very much a similar message to the April monetary policy meeting statement and Draghi's communique thereafter. Nothing from the economic bulletin here to really add to the current picture for the euro.
EUR/USD sits at 1.1153, still trapped in a narrow range for the day as major currencies remain subdued so far in European morning trade.
