There is some really big data out tonight in terms of UK GDP and German CPI which should be market movers in FX land – we’ll look at how the Euro and Pound stack up in the lead up later in this morning’s note but first it was a scatalogical night in the US stock market overnight even though the data was fairly solid with pending homes sales up 3.4% from a fall of 0.5% last while the Dallas Fed index rose to 11.7 from 4.9. In the end US stocks closed in the black which has driven the June SPI 200 200 contract up 21 points to 5554 bid this morning. The chart of the Dow during the US day replicates my favourite roller ... (full story)