EUR/USD presently sits at 1.2330, where it closed out the North American session Tuesday, with the Asian trading session a non-event.

Not too sure how much better things are going to get this morning in Europe. Maybe we can hope for a few tape bombs to get things going. Precious little on the economic data front:

08:00 GMT: Italian CPI May (final) expected +0.1% m/m, +1.4% y/y

09:00 GMT: Euro zone CPI May expected +0.1% m/m, +1.6% y/y, core +0.8% y/y

European stocks expected to open firmer this morning.

Talk buy orders 1.2280.00, stops just below. Sell orders seen up at 1.2350 and we can expect more just ahead of 1.2400 where barrier option interest is seen.