Rate continues its recovery, edging.....>

EURO-DOLLAR: Rate continues its recovery, edging to $1.0918 in opening Europe

trade as markets reflect risk concerns linked to the COVID-19 infection spread,

with its effects on growth, with growing calls for the Fed to cut rates twice in

2020. Resistance is seen into $1.0920/30, though traders do note that the

$1.0915-25 area holds the strikes for E1.27bln of option expiries for today's NY

cut. A break of $1.0930 to expose stronger resistance into $1.0950, with the top

of the 1.0% 10-dma envelope currently coming through at $1.0952, the $1.0950-55

area holding the strikes of E1.2bln EUR calls for today's cut. The $1.0900 level

holds the strikes for E1.93bln of EUR calls at Friday's month-end NY cut. 

Support seen into $1.0900 ahead of the earlier low at $1.0878.

- EZ M3 Money Supply and Confidence data at 1000GMT provides domestic interest. 

- US Core PCE Personal Consumption, Q4 GDP 2nd estimate and Durable Goods at

1330GMT. Pending Home Sales at 1500GMT. 

- ECB Lagarde, Panetta, Schnabel, Guindos and Lane all due to speak. Fed Evans

also on the docket.