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Published on May 14, 2012
There is a lot of ambiguity when it comes to the capabilities and effectiveness of Euro-area officials' rescue efforts, but data requires no interpretation. And, so it is that EURUSD extended its slide below 1.3000 just before the release of first quarter GDP readings for Greece, Portugal, France, Germany and the Euro Zone. This round of event risk carries the potential to permanently downgrade the outlook for the region's health and thereby usher in a new leg of the currency's bear trend. Yet, in this wave of data, we shouldn't lose sight of the underlying risk appetite trends. We discuss both the headline data (the catalyst) and the underlying risk theme (the trend) with regards to our positioning in today's video.