EUR/USD trades flat at $1.1151 after....>

EURO-DOLLAR: EUR/USD trades flat at $1.1151 after plunging 57 pips yesterday.

- The rate registered losses from off and the underlying tone remained heavy

through the day, amid pre-ECB positioning and general USD strength, stemming

from a continued trim in pricing for a 50bps cut from the Fed in July.

- Bears look for a convincing breach of yesterday's low/lower Bollinger band

(2%) at $1.1146/38 before attempting a run at the cycle low of $1.1107. Bulls

look to recover the psychologically significant $1.1200 level.

- Ifo Chief Fuest told MNI that the positive impact of restarting the ECB's

asset purchase programme on EZ growth "would be really limited."

- Spain's acting PM lost the first investiture vote after failing to secure the

backing of left-wing Podemos party. In Italy, tensions between the ruling

coalition partners continue to simmer, while PM Conte is set to address

lawmakers on the "Russiagate" scandal later today.

- Flash PMI readings from across the EZ headline the docket today, ahead of

German Ifo survey expected tomorrow. The main point of note this week, however,

is ECB MonPol decision, which will be delivered on Thursday.