• indications that real cyclical recovery in underway

  • • impact of ECB's QE stronger than expected
    Latest EU forecasts out now
    • raises 2015 Eurozone GDP forecast to 1.5% from 1.3%
    • CPI up to +0.1% from -0.1%
    • inflation remaining close to zero in H1 2015
    • German CPI +0.3% IN 2015, +1.8% in 2016
    • France GDP up 1.1% in 2015, +1.7% in 2016
    • sees UK GDP up 2.6% in 2015, 2.4% in 2016
    • US GDP up 3.1% in 2015,+3.0% in 2016
    Upbeat assessment but still advising caution understandably

EURUSD falling back to 1.1096 having failed to get back through offers at 1.1110 that highlighted on the orderboard post