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Peso Loses Some Altitude


Coronavirus Cases Drop To Two-Month Low

EURO SUMMARY: *Oct10 Euro-dollar open $1.1740, range $1.1739 to $1.1782
*Euro opened in Asia toward the upper side of the tight $1.1718 to $1.1756 range
witnessed yesterday, where consolidation was the theme in holiday-thinned
*After trading sideways within a $1.1739-49 range, demand reported in Euro-yen
from Japanese Asset mangers pushed the Euro from the mid-$1.1740's to $1.1782
before fading
*Firmer US rate yields then pressured the Euro to $1.1766, the benchmark 10-year
US treasury yield was up 0.38% for the session.
*The focus now beginning to shift toward the release of today's French, Italian
Industrial Production and UK Manufacturing Production.
*Resistance is seen at $1.1788 (Oct4 high), with reported offers around $1.1800,
while initial support is located at $1.1739 (Asia low), a break exposes $1.1718
(Oct9 low).