The data stinks so the ECB needs to pump more
GDP 1.7% for 2016
CPI 1.8% vs 0.4% Jan 2016
Unemployment 9.6% vs 10.4% Jan 2016
Ok, growth was down from 2015 but still, 1.7% isn't that bad when you compare it to the other major economies.
If this was the US markets would be going taper potty, yet we're all supposed to forget about it and carry on as if nothing's happened.
The whole point of QE was to produce results like this. As I've said previously, the only reason the ECB are dumbing this down is to keep the euro in check. The problem they have is that the inflation genie is out of the bottle, and if it becomes entrenched (keep an eye on the core), they haven't got a hope in hell of getting it back in. Everyone else might be happy to ignore it but I'm not and will remain long EURUSD for the long haul.
