EUR/USD sits at 1.1960, up from a North American close Monday down around 1.1920. Fed’s Bernanke has helped sentiment a little bit, opining that the U.S. recovery is intact, albeit “moderately paced.” Asian stocks have managed to eek out some gains.
Sell orders at 1.1990/00 noted around this time yesterday continue to cap the topside though, with hedge funds still seemingly happy to sell into any appreciable rallies. Just incase we make it back over 1.2000, stops said to be gathered just above 1.2010.
Euro zone data today:
06:00 GMT: German trade for April expected 15.0 bln; current account April expected 12.2 bln
06:30 GMT: Bank of France business sentiment for May expected 102
06:45 GMT: French trade for April expected -4.1 bln. French central bank balance
10:00 GMT: German industrial production for April expected +0.7% m/m, +12.4% y/y
