Recovery off Friday's low of $1.1125....>

EURO-DOLLAR: Recovery off Friday's low of $1.1125 extended to $1.1206 ahead of

Monday's NY open, the move aided by the earlier releases of stronger than

forecast Germany Retail Sales as well as EZ Services/Composite data, as well as

a tentative move back into risk. However, rate met sell interest in NY, pressed

back to $1.1181 into the 1600GMT fix before recovering, closing the day around

$1.1197. Subdued activity in Asia, rate's recovery remained below $1.1200 in

Asia, slipped back to retest that NY low of $1.1181 in opening European trade,

influenced in part by an extended sell off in AUD/USD. Asian traders have

suggested that option plays could be helping to keep rate hemmed in, noting

expiries this week at $1.1150 and $1.1200. 

- Focus this morning on EZ flash CPI, market median 0.3%mm, 1.3%; core 1.3%yy.

EZ Retail Sales released at same time of 1000GMT. US Trade 1330GMT, non-mfg ISM,

Factory Orders, Durable Goods sue at 1500GMT.