Rate was pressed to an extended low.....>

EURO-DOLLAR: Rate was pressed to an extended low of $1.0995 post Wednesday fix

before it picked up demand that took it back to $1.1009 before closing around

$1.1007. Rate edged to $1.1011 in opening Asian trade only to ease back to

$1.1000 in early Japan trade. A brief recovery to $1.1006 before rate moved down

to retest Wednesday's low, the move seen influenced by EUR/JPY sales. Reported

technical support between $1.0994/91(61.8% 1.0879-1.1179/Oct15 low) seen aiding

current buoyancy, though recovery efforts prove difficult. A break below $1.0990

likely to accelerate sell interest, and would expose next support at $1.0950.

Risk currently on the back foot, market awaiting for new positives concerning

US/China trade negotiations. Resistance noted into $1.1020. 

- Focus this morning on Germany Q3 GDP(0700GMT), market consensus looking for it

to decline again by -0.1%, which if proves to be the case will put Germany into

a technical recession and could place additional pressure on the EUR. EZ GDP at

1000GMT. 

- ECB speakers Guindos(0945GMT), Lane(1100GMT), Knot(1400GMT) and

Villeroy(1515GMT).