All eyes are on Italian politics today. Worries about Italy leaving the euro have eased and the latest developments indicate that snap elections may be avoided if a government is in place today and Mattarella points an economy minister acceptable to the populist party. Meanwhile, Eurozone inflation data will also be closely watched. Forecasts are for a rebound in May, at 1.6% from April's 0.7% year-on-year. The euro continues to trade in the $1.16 handle.