ECB seemingly oblivious to the slowdown.
Germany's growth has stalled, Italy too. France joins them as well with a slowdown coming form Spain. A quick look at the manufacturing purchasing managers index across these countries shows the downward trend since January 2018.
I read a Bloomberg piece on this that compared the Fed to the ECB. Powell was listening the market and put the market on pause. However, the ECB, aside from Draghi seems to want to push on with the ECB's normalisation plan. The ECB are meeting to discuss monetary policy on Thursday. They should be signalling some kind of response to the eurozone slowdown as it is too difficult to ignore. Germany's PPI came in as a miss yesterday too.
PMI data out on Thursday just before the ECB monetary policy meeting.
