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Corrective pullback from Monday's.......>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Corrective pullback from Monday's early high of $1.1164 extended
further Wednesday to $1.1073 with recovery efforts held below $1.1090. Rate
closed Monday's session at $1.1077 and recovered to $1.1087 in a fairly subdued
Asian session, before it settled between $1.1080-85 through to the Europe open.
Resistance seen toward $1.1090, stronger into $1.1100. Support $1.1075/70 ahead
of $1.1050. Traders have noted that Friday's NY options cut holds E1.36bln of
EUR puts at $1.1050, larger at $1.0997-1.1000 of E1.71bln which could provide
some underlying buoyancy, adding that $1.1100-15 holds expiring interest of
E1.73bln EUR calls which should provide a resistance counter. 
- France final Q2 GDP and Consumer Spending data at 0645GMT, Germany Saxony CPI
at 0700GMT to provide first indication for the pan-German number at
1200GMT(market median -0.1%mm, 1.5%yy; EU harmonised 0.1%mm, 1.2%yy). Germany
Unemployment data at 0755GMT ahead of EU Economic Indicators at 0900GMT. 
- US Weekly Jobless Claims and US GDP at 1230GMT.   
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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