Reaction on news:

Market news

5 May 2011

Reaction on news:

EUR/USD dragged lower on release of much weaker than expected German mfg orders data. Euro broke $1.4850 and fell to the lows around $1.4815. Support seen into $1.4800 (Asia low $1.48065), a break to expose stronger demand interest seen placed from around $1.4780.

Ahead of BOE's rate decision:

GERMANY: Industrial orders -4.0% m/m and +9.6% y/y

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