The Next Market Mover

US trade data is due today. The consensus is for a narrowing of the US trade deficit. This is impacted by falling energy prices. We will be watching import and export prices which will be released at the same time (13:30 GMT).

As for the EUR/USD, it appears we have reach a temporary top around 1.2820.  Our current intraday studies have a bearish bias and we'll watch for consolidation to support in the 1.2740 area.