The euro gained marginal ground vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.5545 level and was supported around the $1.5450 level.  Technically, today’s intraday low was right around the 23.6% retracement of the move from $1.6020 to $1.5280.  Many data were released in the U.S. today. First, net long-term TIC flows rose to US$ 80.4 billion in March from February’s total of US$ 72.5 billion while the monthly net TIC flows component saw an net outflow of US$ 48.2 billion compared with a net inflow of $48.9 billion in February.  The March U.S. trade balance registered US$ 58.21 billion.  Second, it was also reported that the New York State Empire manufacturing index fell to -3.23 in May.  Third, weekly initial jobless claims rose 6,000 to 371,000 while continuing jobless claims were up 28,000 to 3.06 million. Fourth, April industrial production fell 0.7% and April capacity utilization fell sharply to 79.7%.  Fifth, the Philadelphia Fed May business index improved to -15.7 from -24.9.  In eurozone news, traders were surprised by a strong print in German GDP growth data that saw an economic expansion of 1.5% q/q in Q1, double most forecasts.  EMU-15 GDP growth expanded 0.7% q/q in Q1 despite the strong euro but ECB President Trichet warned Q2 data could be “less flattering.”  Eurogroup chairman Juncker said the euro’s recent decline is “pointing in a good direction.”  Trichet and ECB member Mersch will speak later today.  It was also reported that German April final consumer price inflation was off 0.2% m/m and up 2.4% y/y while EMU-15 April provisional harmonized inflation was up 3.3% y/y.  ECB member Ordonez reported the central bank “has to continue what we’re doing.”  Euro bids are cited around the US$ 1.5230 level.