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EUR/USD last $1.1392, virtually.........>

EURO-DOLLAR
EURO-DOLLAR: EUR/USD last $1.1392, virtually unchanged on the day. On Thursday,
the rate gyrated within a 36 pip range before closing just 3 pips lower. 
- Worth mentioning final Dec reading of EZ CPI confirmed a slowdown to 1.6%,
short of the ECB's target, with questions circling regarding the ECB's current
forward guidance re: MonPol. ECB's Lautenschlaeger spoke in the European
morning, sticking to the view that the ECB will embark on a hiking cycle at some
point this year. This is in-keeping with the latest MNI sources piece, which
noted that the ECB is increasingly concerned with a deepening economic slowdown,
but more hawkish members want to see more data before abandoning hopes of a rate
hike this year (see MNI Main Wire at 11:18 GMT 01/17). 
- Bulls need to reclaim yesterday's peak at $1.1406 before challenging the
21-DMA at $1.1426, while bears eye yesterday's low of $1.1370 before targeting
the cloud base at $1.1359. 
- EZ focus today falls on comments from ECB's Visco, speaking alongside Italy's
FinMin Tria. Next week, all eyes will be on the ECB, set to deliver its MonPol
decision Thursday.

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