Concern grows for global growth into....>

EURO-DOLLAR: Concern grows for global growth into 2019, the market noting Fed

Powell emphasised downside economic risks with no mention of upside risks, which

provided for a risk off tone through Asia. The fall in the Nikkei provided the

weight to take USD/JPY below Y112.00, USD sales allowed EUR/USD to extend its

recovery off Wednesday's FOMC react low of $1.1365 to $1.1398 into Europe.

Resistance is seen into $1.1400, a break and clear to expose yesterday's highs

of $1.1438/39. Support $1.1372/65. EZ data calendar seen light with focus set on

equity markets acting as a barometer for risk. US Phila Fed provides the data

interest into the afternoon. Large option expiries for today's NY cut, the stand

out one $1.1500 for E5.65bn. Others of note seen at $1.1275-76(E1.2bln),

$1.1290-00(E1.88bn), $1.1350(E1.28bn), $1.1445-50(E2.09bn).