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Rate trades on the front foot and is....>

EURO-DOLLAR: Rate trades on the front foot and is looking to test the $1.20 mark
in early Europe as the dollar softened overnight. Eurozone CPI estimate at
1000BST likely to be the highlight of the session. Our Data team highlight that:
"The Euro Area 'Flash' Inflation estimate (0900GMT) is pencilled in by analysts
to rise slightly, with the HICP y/y forecasted at 1.4% for April compared to
March's 1.3%. However, there is likely to be some downside risk in this estimate
resulting from fairly weak inflation data in France, Germany, Spain and Italy.
Industrial Producer Prices is also released at 0900GMT and previously saw y/y
and m/m growth of 1.6% and 0.1% respectively."
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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