EUR/USD little changed early, effectively consolidating recent gains

EUR/USD presently at 1.3590 is little changed in early Europen trade as it tries to consolidate recent gains.

Earlier we had the release of German April PPI, which came in at -1.4% m/m, -2.4 y/y compared to -0.7% m/m and -0.5% y/y in March, and much weaker than median forecasts of -0.2% and -1.4% respectively. The y/y decline is the sharpest since June 1987. Weakening price pressures, who would have thought it.

Back with EUR/USD, supports at 1.3585 and 1.3570, resistance up at 1.3605/10 and 1.3645/50.