On Tuesday Westpac recommended..........>

EURO-DOLLAR: On Tuesday Westpac recommended entering a short EUR/USD position.

They suggest using staggered entry points of $1.1315 and then $1.1370, with

equal capital allocation. They target a move to $1.1135, with a stop at $1.1435.

- Westpac reason:

- The U.S. economy continues to outpace the Eurozone as shutdown distortions

unwind.

- The Eurozone's persistent lack of any inflationary pressures and low activity

are extending in 1Q'19.

- Yield spreads are likely to weigh on EUR as the potential of the ECB TLTRO's

are priced into markets.

- Current EUR/USD rebounds are likely to falter in the lower half of the range

seen over the past 6 months.

- Pre-FOMC purdah period on members to focus attention on economic data and

surveys.