China Feb Trade Balance decreases to 15.3B vs 29.2B

With EUR/USD having broken 1.31 and more calls emerging over a further recovery short term, Nomura strategists still think their current forecasts of 1.28 for Q2 and 1.25 for Q3 "still look reasonable", adding that "we would continue to seek opportunities to sell EUR on rallies." The bank sees "EUR in a new regime of growth underperformance as key driver."