Analysts at Deutsche Bank suggest that the main focus today will be on the ECB policy meeting and President Draghi’s press conference and they don’t expect any major announcements or changes to the policy stance, but expect it to be interesting nonetheless, given the recent softening in macro data and political developments in Italy.
Key Quotes
“It’s possible that Mr. Draghi may reframe the risk outlook towards “to the downside” rather than “balanced.” The preliminary October composite PMI for Europe printed at 52.7 versus expectations for 53.9, down -1.4pts from September. This is the lowest print since September 2016, and indicates that some of the slowdown over the summer may not have been completely transitory.”
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