Recovery off Friday's low of $1.1213....>

EURO-DOLLAR: Recovery off Friday's low of $1.1213 extended through Monday's

session to $1.1333 on the back of a resurgence in positive risk outlook(strong

Empire State data, Fed announcement on corporate bond buys). Rate eased to

$1.1307 before edging back to $1.1323 into the close. Asia reacted to the

recovery in US equities/positive risk outlook and took EUR/USD through Friday's

high of $1.1340 and on to $1.1349, as it reacted to plans for a USD1tln package,

before meeting headwind resistance into $1.1350.

- Support $1.1320, $1.1307, $1.1300. Resistance $1.1350, $1.1367/73 (Mar11

high/76.4% 1.1422-1.1213) 

- Germany final CPI at 0700BST, Germany ZEW at 1000BST. US Retail Sales at

1330BST provide main data focus. 

- Fed Powell speaks at 1500BST, though more interest in Fed Clarida at 2100BST.

- Risk outlook remains the key driver for direction via equity market

performance.