ECB chief economist Stark, not one noted for a particularly sunshiny outlook, says he sees signs that the speed of the downturn slowing. Coming from a Bundesbanker, this is like Alan Greenspan saying he sees rainbows and unicorns…As well, he says the economy likely reached a low point in Q4 of last year, but says the ECB should revise dow economic forecasts in June.
EUR/USD is consolidating its rebound in the 1.3605 area after stalling once again at 1.3620/25.
