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Rate recovered off an early Europe......>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Rate recovered off an early Europe low Monday of $1.1361 to $1.1416
ahead of the NY open before it pared gains. Rate dropped back to $1.1368 in
early NY, recovered to $1.1400 before it settled around $1.1380 into the close.
Trade through Asia saw rate lift off an early low of $1.1371 to $1.1385 before
it drifted back to the $1.1380 area into Europe. German state CPI releases in
focus Tuesday, ahead of the pan-German release early afternoon(market median
0.1%mm, 2.4%yy). Spain also releases Inflation data this morning, both Germany
and Spain releases to provide some indication for Wednesday's EZ flash CPI
release. Germany Employment Report followed by EZ GDP and EZ Economic Indicators
provide the data focus this morning. ECB Praet and ECB Lautenschlaeger speak
during the afternoon. Risk was given added buoyancy during Asian trade as market
reacted to comments from US Trump suggesting a 'great deal' coming with China.
Attention turning to Wednesday's speculated month-end flow, early models have
suggested strong USD demand to be seen, accompanied by suggested influence of
USD demand from SOMA. US Employment Report Friday waits in the wings. Resistance
$1.1385 ahead of $1.1400. Support $1.1368/61. 
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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