EUR/USD last sits at $1.1191, almost....>

EURO-DOLLAR: EUR/USD last sits at $1.1191, almost unch. on the day, after

cratering 114 pips yesterday, in the wake of the ECB MonPol decision and the

subsequent press conference with ECB Pres Draghi. The ECB altered its forward

guidance and said that key interest rates will remain unchanged "at least

through the end of 2019," as well as announcing a fresh round of TLTROs. The

Bank also trimmed its 2019 GDP forecast to +1.1% from 1.6% and slashed inflation

estimates across all time horizons. Worth mentioning BBG sources suggested that

some of the ECB officials think that the new 2019 GDP forecasts are still too

optimistic. EUR/USD hit levels not seen since June 2017 as a result.

- Worth mentioning final EZ Q4 GDP was revised to +1.1% Y/Y from +1.2%

yesterday, but no impact on price action was noted.

- Bears look for a breach of yesterday's YTD low of $1.1177 before targeting the

lower Bollinger band (3%) at $1.1154, while bulls need a break above the lower

1.0% 10-DMA envelope at $1.1206 before challenging the Nov 12 low of $1.1216.

- EZ focus today turns to French & Italian industrial output, as well as German

factory orders and remarks from ECB's Nowotny.