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Recovery off Friday's post US NFP.......>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Recovery off Friday's post US NFP react low of $1.1040 extended
through Monday trade to a high of $1.1078 into early NY before momentum
faltered. Rate eased to a post fix low of $1.1055 before recovering to $1.1064
into the close. Early consolidation in Asia before rate edged to a high o9f
$1.1071 before it drifted back to $1.1065 into Europe.
- France IP and Mfg data 0745GMT, Italy IP 0900GMT, Germany ZEW 1000GMT provide
domestic data interest. Some recent signs that ZEW could be close to a base with
prospects for some recovery. Market median Expectations 0.3, Current situation
-22.1. 
- ECB Visco and Perrazzelli speak in Rome but ECB meeting this week places ECB
members in a black out so there should be no comments on monetary policy. 
- Support $1.1050/40, $1.1000, $1.0980. Resistance $1.1080, $1.1105/15. 
- Option expiries of note for today's NY cut, $1.1025-40(E1.01bln),
$1.1065-70(E2.35bln)
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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