EUR/USD moved from lows of $1.1536,.....>

EURO-DOLLAR: EUR/USD moved from lows of $1.1536, through Tuesday's recovery high

of $1.1570(off earlier low of $1.1505), to a high of

$1.1594 in quick order on the back of a Corriere report which suggested that the

Italian budget plan seeks to cut the deficit to 2% of GDP in 2021. This steps

down from a projected 2.4% in 2019 and 2.2% in 2020 according to the report.

Previous government rhetoric had pointed to a 2.4% deficit to GDP ratio over 3

years. League party source has 'confirmed' 2.2% for 2020, 2.0% for 2021.

- Recent resistance interest at $1.1580 suggested to have been moved up to

$1.1600, a break to expose the $1.1620/30 area. Support now seen at $1.1530/25

with stronger option linked support remaining in place toward $1.1500 ($1.1505

Oct2 low/$1.1500 expiry for today's NY cut E1.52bn. Option expiries for Friday

Oct5 noted at $1.1450 E2.16bn, $1.1500 E1.65bn).

- Italy GDP remains the key focus. EZ Services/Composite PMI's due for release

this morning, along with EZ Retail Sales.