Risks around Euro Area Outlook are to the Downside: ECB’s Draghi

European Central Bank President Mario Draghi acknowledged a slowdown in the euro area economy on Thursday, saying risks around the outlook for growth had “moved to the downside.” Speaking at the ECB’s post policy meeting press conference Draghi said incoming data have continued to be weaker than expected and said the slowdown was largely due to the rise in protectionist policies and financial market volatility.

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Daniel PerkinsComment
Sterling rebounds after parliament votes down PM May's Brexit deal

Sterling rebounded smartly from the day's lows and rallied more than a cent to stand above $1.28 after British lawmakers defeated Prime Minister Theresa May's Brexit divorce deal by a crushing margin on Tuesday. While the outcome could potentially trigger political upheaval that could lead to a disorderly exit from the European Union, the British currency rallied on some expectations that the scale of the defeat might force lawmakers to pursue other options.

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Daniel PerkinsComment