ECB and Bundesbank honcho Axel Weber shows some of that sunny German optimism, saying one should not give too much credence to signs of hope in sentiment indicators. He expects a big drop in GDP in Germany this year and sees slight growth next year at the earliest. Despite his dark outlook, he says German politicians should resist demands for further economic stimulus measures.
EUR/USD trades in the high 1.3240s, underpinned by rebounding US equities.
