Asia opened in favour of risk, this.....>

EURO-DOLLAR: Asia opened in favour of risk, this outlook fuelled by reports in

the AFR on Sino-Australia free trade, Apple re-opening stores, California had

moved to 75% reopening and comments from Fed Powell that he still expects a

strong rebound in activity in H2 2020, though warning that a 'full recovery' may

be dependent on a Covid-19 vaccine. Rate marked an early low of $1.0803 before

recovering through the main part of the session to $1.0827 then settled around

$1.0820 into Europe. 

- A light data calendar Monday. Central bank speaker slate features Fed's

Bostic, ECB's de Cos. US NAHB Housing Index at 1400GMT. Focus this week on Fed

Minutes Wednesday(though Fed Powell comments over the weekend may have pre

empted content) and flash PMI's Friday (part of the survey will have caught an

easing in lock-down measures, chance for a small improvement).

- Support $1.0800, $1.0789, $1.0780/75, $1.0767. Resistance $1.0820, $1.0850/51,

$1.0867, $1.0895/1.0905.