Session Recap: Mild risk aversion supports the USD

FXstreet.com (Córdoba) - The European session saw most pairs consolidating within its recent ranges, although risk aversion emerged after disappointing German data. Against this backdrop, commodity currencies are underperforming with USD/CAD reaching 2-week highs and AUD/USD briefly dipping below 0.9900.

European stocks are mixed, while US futures remain nearly flat after US import price data.

Main Headlines in Europe (in chronological order):

Germany: Annual CPI rises by 1.1% in April

Germany: Wholesale Price Index drops 0.2% in April, as expected

Eurogroup gives the green light to Greek and Cypriot bailouts

Commodities Brief – Gold declines off highs, bullish jump in the cards for crude?

Yields slide at Spanish short-term debt auction

EMU: ZEW Survey – Economic Sentiment rises less than expected in May

EMU: Annual Industrial Production decline slows down in March

European equity markets falter Tuesday amidst weak German ZEW

US: NFIB Business Optimism Index rose to 92.1 in April