Germany Bucks the Trend

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GDP data across Europe released earlier today offered a ray of light over growth figures from core Eurozone nations, although they are still fairly anaemic. With a better than expected performance by Germany and France narrowly avoiding a minus figure, markets have become hopeful that the Eurozone GDP reading later today might have some surprises in store.

Back at home, consumer price inflation unexpectedly climbed for July. However, dire domestic economic conditions have reaffirmed market belief that the BoE might consider additional monetary tools to combat concerns engulfing the British economy. Today’s US retail sales data also holds high relevance due to its influence on the Fed’s monetary stance.

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Germany Bucks the Trend

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