Forex Flash: Fed loan officer survey says business US credit thawing - Societe Generale

FXstreet.com (Barcelona) - Sebastien Galy, Senior FX Strategist at Societe Generale notes that the US Fed loan officers' survey contrasts with the ECB bank lending survey, like a bottle of Sauvignon Blanc on a magical May evening contrasts with vinegar.

He comments, “It is way too nice a bank holiday in London to be distracted for long but the story was worth forwarding. Draghi sounds dovish, the risk rally tries to trundle but commodity-linked assets lag. And more than anything else, however long the soft patch lasts in the US, there is every reason to believe that its core, the economy is healing. Not going back to old normal growth rates, for sure, but healing.”