Or should that be deflation is the pressure still ?

Either way the dreaded D word looms large still over the Eurzone and ECB, and Draghi & Co are running out of tools despite their claims to the contrary.

I don’t expect an interest rate cut today, but neither do I see any great relief for the Eurozone as a whole in the year ahead so what we hear from Mr Draghi later will be keeping his powder very dry indeed.

As always though folks expect the unexpected and go with the flow. Ours is not to reason why. Ours is just to sell and buy

You know it makes sense