Focus this session – across all asset classes – is firmly fixed on the European Central Bank's monetary policy meeting although bank chief Mario Draghi isn't expected to deliver much beyond dovish rhetorical attempts to weaken the euro.

• ECB will not deliver much except dovish rhetorical attempts to weaken EUR
• Watch out for ECB mentions of  corporate QE corporate purchases
• Looking for Draghi's take on slowing growth momentum
• Facebook Q1 earnings were absolutely impressive
• Commodities will also focus on the ECB today
• Oil market remains resilient; gold is also steady
• Equities still under despite good earnings
• Equity pressure is from rising rates, macro weakness and high valuations
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