EUR/USD recovered off a Wednesday low...>

EURO-DOLLAR: EUR/USD recovered off a Wednesday low of $1.1286(low seen as a

reaction to strong U.S. ADP employment data revision and a BBG headline stating

that the ECB are said to be cutting their outlook by enough to warrant "new

loans" - presumably further TLTRO operations). Rate managed to bounce back to

$1.1325 into the 1600GMT fix before it settled between $1.1305/10 into the

close. Asia consolidated between $1.1303/16 as markets turn focus on to today's

ECB rate announcement (no change widely expected), and ECB Draghi's press

conference and any reference to TLTRO. Ahead of this some focus will be diverted

toward release of EU Q4 GDP 2nd read and EU Employment data. US Employment

Report Friday hovers in the background. 

- Support remains at $1.1290/86, $1.1278 and $1.1250. Resistance $1.1325,

$1.1350. 

- Option expiries of note today, $1.1240-50(E2.32bn), $1.1360-65(E1.67bn),

$1.1370-80(E2.02bn), $1.1500-05(E1.33bn)