Optimism over the US-China trade........>

EURO-DOLLAR: Optimism over the US-China trade talks, as well as positive noises

for a Brexit deal from the UK and Irish PM's (no details), helped to boost risk

appetite Thursday, drove EUR/USD to a recovery high of $1.1034, following the

move above trend resistance at $1.1010(off Jun25 high) and eventual break of

$1.1021(61.8% $1.1109-1.0879). ECB Minutes were basically ignored, though some

interest in analysing the apparent policy split on the board. EURT/USD drifted

lower through the NY session, dropping to $1.1002 into the 1600BST fix. Recovery

to $1.1023 before rate settled around $1.1005/10 into the close. US Trump

comments further fuelled trade talk optimism into Asia and was able to lift rate

off its early low of $1.1005 (broken trend resistance) to $1.1020, currently

around $1.1014 at writing. 

- Support $1.1005/00, $1.0980. Resistance $1.1020, $1.1034, $1.1050/60. 

- Into Europe and wary optimism remains for both Trade Talks and Brexit deal

negotiations, but Friday being Friday market may want to take some of the

positive exposure off the table into the weekend if we don't get any

confirmation for this current feel.