Fed Powell induced recovery from........>

EURO-DOLLAR: Fed Powell induced recovery from Wednesday was given an added

buoyancy from the release of FOMC Minutes Thursday, traders see Fed confirming

it has shifted to data dependency for its future rate path into 2019, though

confirming another hike to come at the Dec meeting. EUR/USD did see a high of

$1.1402 Thursday, with pullbacks contained around $1.1365 before it edged back

to $1.1390 into the close. Rate consolidated, albeit with an underlying firm

tone, through Asia between $1.1385-1.1400. Month-end and final model calls now

suggest USD sales to be seen, due to the late month rally in US equities.

However, this could be countered by $12.6bn of SOMA. Focus this morning on Flash

EZ CPI, headline expected at 2.0%yy, Core 1.1%yy. France CPI released ahead will

be watched after Germany and Spain releases Thursday came in on the slightly

softer side. Resistance noted around $1.1400, with more focus on $1.1430 then

$1.1450. Support $1.1350. Option expiries of note today seen with strikes at

$1.1350-55(E1.76bn), $1.1400(E1.11bn), $1.1410(E499mn), $1.1420-30(E1.55bln)

which could act to keep the rate anchored.