Disappointing mfg PMI readings across...>

EURO-DOLLAR: Disappointing mfg PMI readings across Europe cap topside gains with

the EUR holding $1.1230/35. A downside break of the intraday low & 61.8% fibo of

$0.8230-1.6038 at $1.1214/13 opens a run at the $1.12 level. Flash EZ CPI &

unemployment data is due up at 0900GMT. The HICP y/y in the EA is expected to

remain at January's level of 1.5% in February. The core y/y figure is expected

to be 0.9% after a rate of 1.0% in January. Unemployment in the EA was 7.8% in

January and is expected to remain at the same level. The rate has exhibited a

downward trend since Aug 2018 and reached the lowest level in January 2019 since

Oct 2018.