Down at 1.4665 from a North American close Tuesday up around 1.4690, protection of well-touted 1.4700 barrier option interest so far proving successful. There has been the slight whiff of general risk aversion in the air which has aided the said defence, Asian stockmarkets, oil lower etc. Risk on, risk off, risk on, risk off………. and so it goes.
Euro zone data due today:
06:00 GMT: German trade balance for April expected +14.9 bln; current account +11.0 bln; imports -0.3 bln; exports -3.0%
06:45 GMT: French trade balance for April expected -5.95 bln. French central govt balance for April
09:00 GMT: Euro zone Q1 GDP expected +0.8% q/q, +2.5% y/y
10:00 GMT: German industrial production for April expected +0.2% m/m, +10.0%
European stockmarkets expected to follow their Asian counterparts lower. DAX seen opening around -0.5% lower, CAC 40 down around -0.6%.
