Tomorrow we have the release of a preliminary, non-seasonally adjusted estimate of Germany’s GDP growth during last year. While it’s important news, we don’t expect it to move the market. This is because it’s not one of the official measures, but more of a “best guess” based on a compilation of metrics. More importantly, it doesn’t have all the December data. But, getting better information on how the economy is developing in the largest economy of the Eurozone is important to understanding where the euro is likely to go. And, well, it’s not exactly good news. Another recession? Europe managed to pull itself out of ... (full story)