The scrappage scheme has greatly helped German domestic auto sales but orders for Beemers and Mercs are down outside Germany by a healthy margin. Orders fell 29% in April and are down 31% for the January to April period, according to VDA, the automakers association.
EUR/USD is consolidating in the 1.3385 area after extending against to 1.3435/40 earlier in the day.
1.3360 is solid support on dips near-term.
