Darrell Jobman, Editor-in-Chief, TraderPlanet.com
The Euro pushed higher in Asian trading on Tuesday before consolidating around 1.27 in early Europe. The Euro-zone data offered no support to the Euro with the German trade surplus weaker than expected at EUR8.3bn for January from a revised EUR10bn previously with a 4.4% monthly decline in exports. There was also a sharp 3.1% decline in French industrial production, illustrating the steep regional downturn.
The Euro still advanced strongly in early New York with a peak above 1.28 as global equity markets rallied strongly.