Following yesterdays fabricated inflation numbers in the US, today we receive inflation AND GDP numbers from the Euro Zone. Looks like there won't be any interest rate cuts from the ECB anytime soon. The ECB has it going on!
Death to the Dollar...
Euro Zone inflation eases somewhat in April, yet well above the 2.0% Y/Y (FXstreet.com)Thu, May 15 2008, 09:12 GMT
EU Advanced Gross Domestic Product s.a. up 0.7% in 1Q; 2.2% up y-o-y (FXstreet.com)Thu, May 15 2008, 09:01 GMT
The dollar wilted against the euro this morning as the single currency soared on news that Germany, Europe's largest economy, had posted its highest quarterly GDP in 12 years.
To see all of this mornings early bird economic data, please follow this link to the FXstreet.com Economic Calendar: http://www.fxstreet.com/fundamental/economic-calendar/ Click on the orange exclamation points to get the news stories for each data point.
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