Eurozone retail sales did miss expectation of a -0.1%, falling -1.0% in April. Also the bank recapitalization discussion is swaying towards government responsibility now. It was the possibility of direct injection to banks instead of the government that gave bank shares hope during the 6/5 session and gave the euro a boost. The EUR/USD rallied as high as 1.2540 in the Asian session before stalling and then falling in the European session. The drop went straight through some support factors and is now just above 1.24 as we gear up for the 6/5 US trading session. A break below 1.24 should open up the the 1.2285-1.23 ... (full story)