Eurozone GDP shrank 0.2% quarter-on-quarter in Q1 even as the ECB raised its deposit rate to 2.25% in June on persistent services inflation of 3.5%. Today's data should show whether the contraction is Irish statistical noise or something broader.
Germany's wholesale prices eased to 4.9% year-on-year in June, the slowest pace in months as energy costs declined, setting a benign tone ahead of Lagarde's remarks. Source
