Session Recap: Euro recovers ground

FXstreet.com (Córdoba) - The euro advanced versus most competitors during the European session in the wake of the much stronger than expected German industrial orders data, with EUR/USD climbing back above 1.3100 to a high of 1.3131. The move comes after the cross fell to the 1.3050 area on Monday on Draghi comments.

The Cable traded within a narrow range and remains effectively unchanged on the day. The Aussie is among the worst performers after the RBA decided to cut its interest rate, with AUD/USD breaking below 1.0200. Meanwhile, the dollar managed to reverse early losses against the yen, underpinned by EUR/JPY demand, but surrendered gains versus the swissy to trade flat on the day.

Main Headlines in Europe (in chronological order):

Switzerland: Unemployment Rate unchanged at 3.1% in April

Asian markets up but Nikkei rockets upward

Forex Flash: What to do with the EUR/USD? – UBS and Commerzbank

Germany: Annual Factory Orders fall 0.4% in March; up 2.2% MoM

Forex Flash: Commodity Currencies technically bearish - UBS

Dijsselbloem calls for deeper integration of EU financial sector

European markets cheer German factory orders and move higher