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3 Numbers: Germany's retail resurgence, EZ money, US GDP estimate
Today is one of those days where the data calendar does not include any critical releases, but it is full of second-tier items, each of which could become a market-moving item. During the early part of the day the final first quarter’s gross domestic production (GDP) of several European countries are published (Switzerland 05:45, Sweden 07:30, Italy 08:00, UK 08:30, Greece 09:00, Portugal 10:00). Spain’s GDP was already published yesterday, and was unchanged from the initial estimate, which was also the consensus forecast. Investors are thus not expecting surprises from European GDP data. That suggests to me that ... (full story)