Draghi dip the Euro again

There isn't anything that differs all too much from what we heard from Draghi last week. But this basically reaffirms the notion that the central bank is looking towards a rate hike in Q3 2019 now - no repeat of the statement from Draghi this time around to toy with reporters.

Eurozone economy continues on a growth path
Uncertainty permeates the economic outlook
Monetary policy will remain patient, persistent, prudent
Uncertainty surrounding the growth outlook has recently increased
Growth expectations for the medium-term remains essentially unchanged
There is growing evidence that broad-based economic growth is beginning to generate positive pricing dynamics
Downside risks to global economy include increased protectionism threats
Also includes rising oil prices on geopolitics and persistent heightened market volatility
Upside risks include fiscal expansion in the US
'Significant' monetary accommodation still needed
ECB to be patient in determining timing of first rate hike
ECB to take gradual approach after first rate increase
Market-implied rate path broadly reflects ECB's intention
ECB confidence in path of inflation is rising
Well, there isn't anything that differs all too much from what we heard from Draghi last week. But this basically reaffirms the notion that the central bank is looking towards a rate hike in Q3 2019 now - no repeat of the statement from Draghi this time around to toy with reporters.

If we see further deterioration in the Eurozone economy next year, it will make for a very different tone by the ECB I would reckon.

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