The ECB releases its economic bulletin for December after its monetary policy meeting

  • Underlying inflation expected to rise gradually
  • Ample degree of monetary accommodation still needed to secure a return of inflation close to 2%
  • Global economy also continuing to expand at a solid rate, and Euro area recovery shows signs of synchronisation globally
  • Financing conditions remain very favourable in the Euro area
  • Confirms intention to continue QE until end of September 2018, or beyond, if necessary

Nothing new from the ECB. As I mentioned in the calendar preview, the comments here are mostly reiterations of whatever that was previously announced in the ECB meeting earlier in the month.

EUR/USD is slightly off session highs on the day, now at 1.1935. Dollar weakness remains the theme in today's trading so far.