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EUR/USD steady above 1.07 but important EU and German data awaits

Yesterday the more positive tone to the European stock markets into the close helped to ensure the EUR/USD held its rebound gains above 1.07 and actually extend upon those into the US close. The EUR/USD closed last night at 1.0734. Earlier today the Euro reached a rebound high this week at 1.0741, but is has backed from that a little just now. There are some important EU data releases later this morning which could have an impact. Those are due out at 9am GMT and cover the latest German ZEW index and the final readings for Eurozone HICP inflation. There will be more to add on those a little later this morning. Meantime, the EUR/USD is currently trading at 1.0730, as it waits to see just how the European equity markets will fare when they reopen shortly, at 7am GMT. 

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