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EUR/USD gyrated around unchanged........>

EURO-DOLLAR: EUR/USD gyrated around unchanged levels overnight, sticking to a 15
pip range.
- EUR has managed to consolidate the bulk of its BBG ECB sources-inspired gains,
although EUR/USD failed to print a fresh session high on the back of story. The
piece failed to offer little in the way of fresh insight into the thinking of
the Governing Council, highlighting that a move in interest rates in "September
or October next year is on the cards." This didn't provide any real shock to
most, as the hawks on the governing council were always likely to be unhappy
with a hike at the very end of the calendar year.
- The IMF trimmed its 2018 growth forecast for Germany, tracking Germany's
domestic economic institutions & gov't.
- EUR/USD last ~$1.1660, resistance noted at $1.1690/93 (Jun29 high/Jul2 high),
with support at $1.1621/10 (Jul3 low/Hourly support)
- ECB's Weidmann, Mersch & Nowotny headline on Thursday.
- Nearby FX options expiries for todays 10AM NY cut: $1.1500(E2.79bn),
$1.1600(E911mn), $1.1620-25(E1.29bn), $1.1700(E2.31bn)
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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