Rate saw a sharp corrective pullback....>

EURO-DOLLAR: Rate saw a sharp corrective pullback from its NY high of $1.1409 to

$1.1355 Friday, the move seen driven by the rise in UST yields, before it closed

the week around $1.1365. Rate opened the main Asia session around $1.1385 and

edged to $1.1390, the rate marked up on better risk outlook (reports that

US/China getting close to a trade deal) as well as reaction to US Trump's

comments, again 'attacking' Fed Chair Powell over tight money policy which he

blames for causing a strong USD. Asian traders have noted that the rate has been

finding difficulty in clearing and holding above its 50-dma and 100-dma levels

(today $1.1388 and $1.1383 respectively, 55-dma $1.1388 also). with area from

above $1.1400 and up to the Feb28 high of $1.1420 also providing stiff

resistance. Traders note that $1.1400 holds the strike of an expiring option for

today's NY cut E1.26bn. Rate reversed tack and eased through the balance of the

Asian session to $1.1361. Friday low $1.1353. 

- ECB MonPol decision Thursday, followed ECB President Draghi press conference.

Elsewhere, EZ focus this week turns to Italian GDP (f) Tuesday, EZ GDP (f)

Thursday and remarks from ECB's Nowotny due Friday. US NFP Friday.