ECB's de Guindos: New ECB projections not going to be very far away from EC forecast today
de Guindos hints that the ECB will cut its growth forecasts next month
He says growth will be more sluggish next year than what policymakers have initially projected, and that they will update their projections at the December meeting.
Adding that he believes that "they're not going to be very far away from the projections that we saw today from the European Commission (EC)".
That's a bit odd because the -0.1% q/q forecast by the EC earlier is rather conservative in my view when you think about all the tighter restrictions that are being applied across the region now. I suppose he could be alluding more towards 2021 but we'll see.
Further Development
Based on the graph above I found that on the top of the list we got Silver and Platinum today and on the bottom VIX and heating oil.
Key Levels:
Resistance: 1,1880
Support levels: 1,1600
