Having slipped to a low of $1.1425......>

EURO-DOLLAR: Having slipped to a low of $1.1425 during Monday's subdued

trade(markets generally quiet due to this week's Lunar New Year holidays, China

closed all week) the rate did manage to recover but met resistance at the

$1.1440 level before it closed around $1.1435. Asia managed to nudge rate up to

$1.1441, the move aided by positive AUD reaction to the RBA announcement.

However, recovery effort again met decent resistance and rate eased off to

$1.1429, trading around $1.1430 into Europe. Support remains at $1.1425, with

further support seen through to $1.1400. Resistance remains around $1.1440, a

break to open a move on toward $1.1450/60.

- EZ focus turns to final EZ services & composite PMI due later today, as well

as German industrial output & remarks from ECB's Mersch due Thursday. ECB's econ

bulletin & the EU Commission's econ forecasts also come out Thursday.