Having touched a recovery high of.......>

EURO-DOLLAR: Having touched a recovery high of $1.1028 in Wednesday's opening

trade, off Tuesday's low of $1.0998, the rate struggled to hold those gains and

eased to a fresh YTD low of $1.0992 in early NY. Recovery was given a boost

through the FOMC announcement and Powell press conference to $1.1021 before it

settled around $1.1010 into the close. A fairly muted response to the FOMC, 

main rate unchanged, as widely expected, tweaked IOER by +5bp, and signalled

that repo operations will continue at least through April. Some changes in

inflation language, but had little noticeable effect. Wuhan virus returned to

the fore and dented riskier assets. The WHO's Emergency Committee will convene

today to decide whether to declare a global emergency. Despite this EUR/USD was

contained through Asia within $1.1008/18.

- Germany state CPI's begin with Saxony at 0800GMT, ahead of pan-Germany CPI at

1300GMT (market median -0.7%mm, 1.7yy). Germany Employment data at 0855GMT. EU

Sentiment indicators at 1000GMT. US Weekly Jobless Claims, GDP at 1330GMT. 

- Support $1.0992, $1.0980, $1.0950($1.1000-05 expiries E1.76bln). Resistance

$1.1020/30, $1.1035/50(expiries E1.85bln)