Corrective pullback away from...........>

EURO-DOLLAR: Corrective pullback away from Tuesday's high of $1.1349 extended

through Wednesday's session to a late low of $1.1248. A fairly subdued Asian

session (due to local holidays) was able to nudge rate back to $1.1260 before

the pullback extended further to $1.1240, edging back around $1.1250 into

Europe, and ahead of Germany GfK Consumer Confidence data. Data came in at a

better than expected level of -9.6 (forecast  -12.0) but little reaction seen.

COVID-19 spread in the US weighed on risk Wednesday, which in turn boosted the

USD with a good part of that strength remaining into Thursday trade. Focus on

ECB Minutes at 1230GMT ahead of US PCE, Personal Consumption, GDP,

Weekly/Continuing Jobless Claims and Durable Goods at 1330BST. ECB Schnabel at

1330BST, Mersch and Knot at 1530BST. Fed speakers Kaplan 1430BST, Bostik at

1600BST. 

- Support $1.1240/37/33(intraday low/61.8% 1.1168-1.1349/Jun23 low) ahead of

$1.1200(option expiry today E1.6bln). Resistance $1.1260(intraday high, expiries

E860mln), $1.1280/85, $1.1300.