Germany's Council of Economic Experts out with their latest report

  • 2017 GDP +1.7%
  • 2016 CPI forecast cut to +0.3% vs +1.2% prev
  • CPI 2016 average +0.3% but rising to +1.4% in 2017

A sharp reality check on inflation from the so called Wise Men but hopeful for better things next year.

We'll see in time. Plenty still going on out there to blow them off course.

EURUSD stuck around 1.1185 still with EURGBP underpinned at 0.7899 and ditto EURJPY at 126.08