The JPY and USD have firmed in overnight Asian trade, EUR/USD down at 1.3595 from a North American close Tuesday around 1.3630, while EUR/JPY is down at 129.95 from around 130.80.
Japanese Q-1 GDP came in at -4.0%, and although slightly better than the median forecast of -4.2%, had the effect of ratcheting up risk aversion just a little. Japanese Finance Minister Yosano opined that the data shows the Japanese economy is worsening rapidly.
European data out today as follows:
08:00 GMT: Italian industrial orders March expected -2.5% m/m, -30.3% y/y
08:30 GMT: BOE minutes
09:00 GMT: Swiss ZEW survey (expectations) May
09:00 GMT: Italian current account March
10:00 GMT: UK CBI May trends total orders.
