ECB On Hold, All Eyes On The Outlook As ‘Goldilocks’ Conditions Affirmed By PMIs
Ok, so here comes the ECB.
As a reminder, they “can afford to be boring”, to quote BofAML. The heavy lifting in terms of forward guidance and the taper announcement was done in October, so they’ll sit on their hands in that regard. The forecasts will be closely watched however. Do note the data we got this morning:
Eurozone Dec. Flash Manufacturing PMI 60.6; Est. 59.7
Eurozone Dec. Flash Composite PMI 58; Est. 57.2
Eurozone Dec. Flash Services PMI 56.5; Est. 56
Germany Dec. Flash Ma
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