EURUSD touched recovery highs of........>

EURO-DOLLAR: EURUSD touched recovery highs of $1.1174 on Friday after the dollar

lost ground post US GDP data. The rate later drifted throughout the session to

close the week around $1.1150/55. The start of Golden Week holidays knocked

volumes overnight with major FX currency pairs tied to narrow range trade. EUR

shrugged off preliminary results of the Spanish parliamentary elections, which

saw the incumbent Socialist Party (PSOE) gain 29% of the popular vote.

- EURUSD last trades $1.1158 with near-term resistance at $1.1171.73 from the

Asia high & 100-hma, above here opens a run at the $1.12 level. While downside

focus remains on Friday's ytd low of $1.1112, traders have also reported on

protection ahead of $1.1100.

- Early bank models have suggested moderate dollar selling for month-end.

- It's a busy week on the calendar with standouts from German state CPI, German

CPI, EU Mfg PMI's, EU CPI & GDP