ECB delivery of an extra E600bln in.....>

EURO-DOLLAR: ECB delivery of an extra E600bln in asset purchases, as part of its

PEPP asset purchase programme, went over and above market expectations Thursday,

the Bank also extending the duration of purchases well into 2021. Market took

the announcement well, the boost to risk outlook drove EUR/USD to $1.1362,

dipped to $1.1312 before edging back to retest that earlier high before it

settled around $1.1330 into the close. Early Asia took rate to $1.1345 before it

drifted off to $1.1326 in a fairly subdued session, which has become normal

ahead of US NFP data. However, rate picked up fresh demand which edged it to

$1.1355 in late Asia, early Europe providing the added pressure to take it

through Thursday's high, as well as tech resistance into $1.1370, to $1.1374.

The release of worse than expected Germany Factory Orders data (-25.8%mm vs

expected -19.9%) has done little to dent the current buoyant tone in the EUR,

the rate nudging onto $1.1378. Expect some resistance into $1.1380 ahead of

$1.1400, with the YTD high at $1.1495 beginning to be seen as a prospect.

Attention on the US Employment Report at 1330BST, NFP forecast at -7.5mln. Risk

remains the key driver, taking direction from equity market performance.