Latest ECB monthly report now out 22 Sept
- ECB expects recovery to proceed at a moderate but steady pace
"Moderate global growth continued in the first half of 2016.Looking ahead, global growth is expected to recover gradually. Low interest rates, improving labour markets and growing confidence support the outlook for advanced economies, although the uncertainty generated by the referendum in the United Kingdom on EU membership will weigh on demand in that country.
As regards emerging market economies, economic activity in China is expected to slow, while the outlook for large commodity exporters remains subdued, despite some tentative signs of stabilisation. Risks to the outlook for global economic activity remain on the downside."
Basically a rehash of Draghi's presser statement but all helping give the euro another helping hand.
EURUSD 1.1242 but EURGBP failing above 0.8600 again and giving a lift to GBPUSD after holding a dip into 1.3050 demand.
Full bulletin here
