EUR/USD has drifted 6 pips northwards...>

EURO-DOLLAR: EUR/USD has drifted 6 pips northwards thus far and last sits at

$1.1382. This occurs after the rate finished Wednesday 15 pips higher on the

day. 

- Yesterday, EUR garnered strength after the EU announced it reached an accord

with Italy on the latter's 2019 fiscal plan and hence will not trigger the

excessive deficit procedure. Fallout from the agreement between Rome and

Brussels continued to lend support throughout the day. 

- However, the rate pared most of earlier gains after U.S. FOMC released its

MonPol decision and a rate hike allowed USD to rally across the board. 

- Bulls look to $1.1439, where the rate peaked yesterday, before challenging the

100-DMA at $1.1487. Conversely, bears need a break below yesterday's low

($1.1355-60 Expiries E1.05bn) at $1.1360 before attempting a move through the

21-DMA at $1.1352. 

- EZ calendar for the remainder of this week is quite light, includes French GDP

due Friday.