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EUR/USD retained its month-end..........>

MNI (London)
EURO-DOLLAR: EUR/USD retained its month-end buoyant tone, with follow on fix
related flow able to extend Thursday's rally to $1.1018, after breaking above
the Apr15 high of $1.0991. Post fix rate has drifted back to $1.0985 where it
seems to be finding some support, stronger interest likely to emerge between
$1.0970/60. Rise was also aided by the thinner conditions with a good part of
Europe closed today for the May Day holiday, as well as EUR/GBP's rise, having
broken above its key 10-dma(current Gbp0.8745) with sights likely set on a test
of the topside of its 1.0% 10-dma envelope, currently coming through at
Gbp0.8832. Risk outlook remained on the back foot through the day which
benefited flows into JPY and CHF, which countered any EUR strength in the
related crosses. Market takes into next week this week's monpol announcements
from the Fed and ECB, with data focus set firmly on next Friday's US Employment
Report, the unemployment rate expected to surge to a record high of 16%.
Resistance noted at $1.1018, a break to expose $1.1050/60.    
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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