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The Euro, which was under pressure throughout yesterday’s trading session, has recovered some of its losses today following better than expected first quarter German GDP data. This has turned focus towards Eurozone economic growth data due later today. Meanwhile, uncertainty in the zone mounts as Moody’s downgrade 26 Italian banks and speculation is heightened that Greece could exit from the Eurozone, unless the nation positively counters the present political impasse. Eurozone finance ministers have, however, rejected talks of a Greece exit.

With a light economic calendar in the UK today, some major economic data across the Atlantic, including inflation and retail sales, is likely to keep traders on their toes.

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