React spike to $1.1611 Friday,..........>

EURO-DOLLAR: React spike to $1.1611 Friday, following the headline miss in NFP

(157k vs 190k forecast) proved short lived as market turned attention to the

revision and the fact that AHE had hit forecast as well as the Employment Rate.

Rate reversed as traders quickly moved back into the dollar, took rate to an

intraday low of $1.1560 where it met decent demand interest. Rate managed to

recover to $1.1604 but sellers again merged to press rate back to $1.1564 ahead

of the close. Asia edged rate to $1.1574 in early dealing but rate again came

under pressure which pressed it to a low of $1.1557. A shallower recovery to

$1.1569 before rate settled on $1.1560 into Europe. Fresh early sales eased rate

to $1.1555 but rate continues to meet decent demand into the dips. Talk Friday

suggested this support seen down to $1.1520, with the YTD low at $1.1509 sitting

close behind. Some suggestion of a $1.15-1.20 option structure in play which

could also add support. Germany Factory Orders due for release at 0600GMT(market

median -0.5%mm) provides early interest ahead of Germany VDMA machine orders

data at 0800GMT. US/China trade spat continues to affect risk outlook, Larry

Kudlow admitted to some dialogue with China at the highest level.