The risk on trade is certainly looking a little jaded as the North American session kicks off. Eur/Usd is under pressure, while Oil and Stocks are also in the red. A couple of pieces of interesting data out of the US, with the Durable Goods report due at 12.30 GMT and then New Home Sales at 2.00 GMT. If we get a muted response from better than expected data once again, it looks like the risk on trade has run its course in the short term at least.