Extended its recovery off Wednesday's...>

EURO-DOLLAR: Extended its recovery off Wednesday's posted YTD low of $1.0992

through Thursday to an eventual high of $1.1039, settling around $1.1030 into

the close. Components of US GDP came in softer than forecast added to pressure

on the USD, with the BOE MPC keeping rates on hold taking cable higher and

dragging EUR/USD with it. Risk appetite took a knock into the close as the US

CDC confirmed the first case of person-to-person spread of Coronavirus within US

borders. However, this was tempered by the WHO declaring coronavirus a global

health emergency. Inline China Mfg PMI, and an uptick in non-Mfg PMI (though

surveys were taken pre LNY and virus spread), eased risk aversion in Asia which

saw EUR/USD pare gains, rate pressed back to $1.1019 into Europe. Support seen

into $1.1000 (1.0998 61.8% $1.0972-1/1039; area between $1.0990-1.1000 holds

expiries for E2.12bln), $1.0992, $1.0980. Resistance into $1.1040, with expiries

noted between $1.1040-60 amounting to E1.39bln).

- France GDP came in at -0.1%qq. Germany Retail Sales came in weaker than

forecast at -3.3%mm vs forecast -0.5%. EZ GDP at 1000GMT ahead of US PCE,

Chicago PMI and UofM. Month-end and USD sales predicted.