Market disappointed by US Trump's.......>

EURO-DOLLAR: Market disappointed by US Trump's press briefing, after he had

promised to unveil very dramatic measures to mitigate consequences of the

COVID-19 spread, with economic steps to be major. Risk positions were pared,

sending USD/JPY lower, which in turn saw EUR/USD extend its recovery off late

Tuesday lows of $1.1275 to $1.1367 into Europe. Rate was knocked back from its

high as market reacted to the 50bp rate cut by the BOE, which knocked cable

lower, with EUR/USD dragged back by the move (EUR/GBP spiked to Gbp0.8848,

though holds below the topside of its 2.0% 10-dma envelope, currently trades

back at Gbp0.8815). EUR/USD traded down to $1.1337, holding just shy of its

$1.1332 38.2% retrace of the recovery from Tuesday's low to this morning's high.

Expect further demand to be seen into $1.1320 ahead of $1.1310/00. Resistance

$1.1390/1.1400.

- Spain Retail Sales 0800GMT, Italy PPI 0900GMT. US CPI at 1330GMT, medians

0.0%mm, 2.2%yy; core 0.2%mm, 2.3%yy

- Markets will be hoping for something more from US Trump to aid markets.