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Rate eased from its Thursday high of....>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Rate eased from its Thursday high of $1.1176 to $1.1132 then
bounced to $1.1159 into the month-end 1600GMT fix. Weak Chicago PMI also weighed
on the USD. Rate found support at $1.1140 in late NY before closing at $1.1150.
Asia took recovery on to $1.1167 then consolidated above $1.1160 into a holiday
thinned Europe (All Saints Day). Tech traders have noted the Oct monthly close
above September's high of $1.1109 and expect this to signal further buoyancy.
However, Asian traders reported resistance into $1.1180 though add that interest
to buy dips (trimming back short positions) expected to keep the underlying tone
buoyant. US Employment Report (1230GMT - Market median 85k), with US Mfg ISM at
1400GMT (median 49.0). Analyst notes this morning suggest strong US data likely
to have more of a market effect following disappointing Chicago PMI. Back from
their blackout period, Fed's Clarida, Quarles, Williams, Kaplan and Daly on the
agenda. Option expiries $1.1100(E1.17bln), $1.1150(E3.39bln of which E2.95bln
EUR calls), $1.1175-80(E837mln), $1.1200(E5.35bln of which E5.28bln EUR calls),
$1.1210-25(E968mln). Support $1.1140/30, $1.1100, $1.1080. Resistance $1.1180,
$1.1200. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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