EUR
Euro lost against all of its major counterparts on the back of poor data stated
that investor confidence was at all time lows within the Euro-zone. Analysts
are suggesting that the euro is becoming the favourite funding currency of the
carry trade, which is resulting in lots of pressure on the single currency.
Despite the highs that we are seeing, it may be time for investors to start
selling Euro’s before it is too late.

EUR
Euro lost against all of its major counterparts on the back of poor data stated
that investor confidence was at all time lows within the Euro-zone. Analysts
are suggesting that the euro is becoming the favourite funding currency of the
carry trade, which is resulting in lots of pressure on the single currency.
Despite the highs that we are seeing, it may be time for investors to start
selling Euro’s before it is too late.

USD
The dollar made large gains against EUR in early trading. Touching its
lowest levels since the beginning of February. But on a day that lacked much
data  these trading gains were corrected towards the close of US
trading. However, the move signals strength for the greenback. 

Today
This morning we have Industrial production figures out from the UK, if we get
above the expected .4% levels we could see the pound strengthen. From the
Eurozone we have Italian GDP figures, which if they come in below expected
could prompt a second red day for the Euro against all peers.  

Key Announcements:
09:30 – GBP- Industrial Production for April expected to rise to 0.4% 
09:30 – GBP- Manufacturing Production expected to remain flat at 0.4%
15:00 – GBP- UK GDP Estimate 

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