ECB provided the expected signal for....>

EURO-DOLLAR: ECB provided the expected signal for easing at the September

meeting but disappointed those that had speculated that they may have announced

moves at yesterday's meet. Rate initially jumped to $1.1161 before it dropped

down to $1.1102 where it ran into decent demand placed ahead of $1.1100. Traders

mentioned good sized bids on the machine at the $1.1100 level. Strong buys

prompted spec shorts to cover back and drove rate up to $1.1188 before momentum

faded. Rate eased to $1.1127 before it settled between $1.1140-50 through to the

close. This late consolidation continued into Asia, with trade contained within

$1.1142-51 into Europe. Minor support seen into $1.1120 ahead of stronger

interest into $1.1100. Resistance $1.1188.

- France PPI at 0645GMT, Italy Confidence data and ECB Survey of Professional

Forecasters Q3 at 0800GMT provide the domestic interest. 

- US Q2 GDP provides the main interest on the day at 1230GMT.