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

EURO-DOLLAR: Rate was pressed to an extended low of $1.0817 in US afternoon

trade Thursday, some suggesting that the EUR was under pressure as investors

seen underwhelmed by the EZ fiscal actions to overcome COVID-19 linked economic

effects, the North-South divide evident. However, EUR/USD managed to recover

ahead of the close though met headwinds around the $1.0850 level. Early Asia

demand, linked to reaction to positive soundings from the use of a Gildead

Sciences drug remdesivir on severe COVID-19 sufferers, cleared rate above the

$1.0850 area taking it onto a high of $1.0879 in a general risk on move, though

was said to have met EUR/JPY linked resistance into $1.0880. Rate settled around

$1.0870 through to the European open but was seen under fresh downside pressure

into the new session, taking rate back toward the $1.0850 level.

- Focus to remain on COVID-19 developments. EZ final CPI provides morning

interest, though not usually a market mover. 

- Fed Bullard speaks at 1200GMT. ECB Rehn speaks at 1300GMT.

- Support $1.0830, $1.0817, $1.0800, $1.1780 ahead of $1.0769(Apr06 low).

Resistance $1.0880, $1.0900.