An easing in risk outlook Wednesday.....>

EURO-DOLLAR: An easing in risk outlook Wednesday allowed EUR/USD to extend its

recovery to $1.0990 ahead of the NY open though enthusiasm faded as rate drifted

back to $1.0968 into the close. US-China trade talk headlines in Asia provided

some volatility via risk. Initial SCMP story that deputy level talks had failed

to yield any progress weighed on risk but a CNBC tweet suggesting report was

inaccurate countered. EUR/USD was initially lifted by the downside, risk off

pressure on USD/JPY, but was able to continue to push higher as it took its lead

from a rally in EUR/JPY which was driven by a report in the NYT that has

suggested the US admin will soon issue licenses to some US companies to supply

non-sensitive goods to China Huawei. EUR/USD rallied to a high of $1.0993 but

rate again was seen meeting headwind resistance on approach to the $1.1000 area.

Rate eased to $1.0984 into Europe. Resistance suggested from above $1.0990 and

seen extending toward trendline resistance at $1.1010(off Jun25 high).

Suggestion shorts could be pressured on a break of $1.1025. Support $1.0980

ahead of $1.0968.

- Focus on ECB Minutes 1130GMT. US CPI 1230GMT seen key.