Eur/usd - 1.2644 ... German seasonal adjusted trade surplus came in at 10.6 bln euros (forecast was 13.5 bln euros) in May versus downwardly revised 12.8 bln euros in April. Trading is relatively thin in European morning as traders are focusing on the ECB news conference by ECB President Trichet to see any details on its bond purchase programme, liquidity conditions after banks last week paid back 442 bln euros of emergency 1-year loans n the bank stress tests. Bids are located at 1.2620 whilst offers are tipped at 1.2670/80.