EUR/USD managed to stage a mild rebound in Asian and early European session today, bouncing above the 1.2800 handle after selling off yesterday on disappointment at ECB’s inflexibility on interest rates. The euro rally, however was capped by news that German GDP would print worse than expected at -2.0% versus forecast of a -1.8% contraction. Nevertheless, the downside revision could hardly be considered a surprise to the market given the horrid series of economic data emanating from Germany all week long and the focus is likely to shift to the US NFP report due 13:30 GMT