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USDCAD TECHS

Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

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Heading North

EURJPY TECHS

Bull Rally Accelerates

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Economists Survey Raises 2021 CPI Forecast To 4.9%

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Early recovery efforts Thursday were capped at $1.1120 before rate
pressed through reported support into $1.1100, the rate touching an eventual low
of $1.1093 into the 1600GMT fix before settling around $1.1105 into the close.
Move lower described as part of the general position clear out, following the
calming in US-Iran tensions. Traders noting that the $1.1100 level holds expiry
interest for today's NY cut, E838mln, but more importantly expiry interest at
this level through next week amounts to around E5bln which could be providing
some attractive influence. However, US Employment Report today at 1330GMT which
could change this outlook. Market median 160k for headline NFP, AHE 0.3%mm,
3.1%yy, the unemployment rate expected to remain at 3.5%. As mentioned Thursday,
the move below $1.1100 failed to extend below $1.1090 leaving stronger support
into $1.1070 unchallenged. Resistance remains into $1.1120 ahead of $1.1134 and
$1.1140/50. 
- France BOF Business Sentiment at 0730GMT, IP/Mfg at 0745GMT but overshadowed
by US NFP.  
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com