Carry unwinds, and further pressure.....>

EURO-DOLLAR: Carry unwinds, and further pressure on UST yields and equities,

acted to drive EUR/USD to a high Thursday of $1.1006 into the 1600GMT fix before

easing to a post fix low of $1.0965 but managed to recover to $1.1003 ahead of

the close. Asia extended this move to $1.1005 before momentum faded, the rate

easing to $1.0982. Fresh demand emerged to push rate up to $1.1008 into Europe.

Rally Thursday saw EUR/USD break out of its 1.0% 10-dma envelope at $1.0959, not

a resistance in itself but rate tends not to like being outside of the 1.0%

parameters for long. By time line has edged to $1.0976. COVID-19 spread effects

remain key, though month-end flow expected to also have influence into the

weekend. 

- France final Q$ GDP and inflation data at 0745GMT. Germany Saxony CPI at

0700GMT, market median for pan-Germany CPI seen at 0.3%mm, 1.7%yy. Germany

unemployment at 0855GMT. ECB Weidmann 1000GMT(hawkish)of note. 

- US Personal Income/Spending and PCE due at 1330GMT. UofM final at 1500GMT. 

- Support $1.0980, $1.0965. Resistance $1.1010, $1.1030/40. Option expiries

$1.1050-60 E1.5bln.