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ARGENTINA

Guzman To Speak On Paris Club Negotiations

GBPUSD TECHS

Bearish Risk Still Present

US TSYS

Modest Tail On 2Y Auction

EQUITIES

E-Mini S&P Extends Bounce to 100 Points

EURO SUMMARY
EURO SUMMARY: Eur/Usd: Asia open $1.1740, range $1.1739-82. Europe open $1.1771,
range $1.1762-89.
* Recovery off Friday's initial NFP/AHE react low of $1.1670 continued through
Monday to $1.1756. 
* Rate eased to $1.1739 at the close of a US/Canada holiday thinned trading
session. 
* Early consolidation in Asia saw rate cling to a tight range around $1.1740
before Tokyo returned from its long weekend. 
* Eur/Jpy demand from Japanese Asset mangers cited for the spike up to Y1.1782.
* Order exhaustion then saw rate drift back to $1.1766 ahead of Europe. 
* Rate recovered to $1.1775, dipped to $1.1766 then rallied sharply to $1.1789
on general Usd sell pressure, led by Usd/Jpy. 
* Rate then fell back to $1.1762 as Eur/Gbp pressed to fresh intraday lows,
sterling retaining its buoyant tone seen Monday. 
* Rate recovered to $1.1786 before it settled between $1.1775/80 late morning. 
* Markets await US return and directional influence. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com