020 7898 0500The ECB meet later this morning and attention will be focused on what Draghi says in the subsequent press conference. It is known that a strong euro – especially against the dollar – has negatively impacted export growth in recent times and so Draghi might take measures to try and encourage weakness today.
That is a fairly cynical view to take, but the ECB’s President certainly does have history for talking the euro down; it will certainly be interesting to see what he makes of recent economic data that has come from the eurozone which appears to suggest economic forecasts at the start of the year might have been a little on the optimistic side.
We will also see the Gfk consumer confidence reading from Germany which is expected to dip a little to 10.8 in May from 10.9 the month before. However, it would be no surprise were this to come in below expectations given recent releases.
