Recovery off last Thursday's initial....>

EURO-DOLLAR: Recovery off last Thursday's initial ECB react low of $1.0927

extended to $1.1109 Friday before rate settled around $1.1075 in post fix trade

through to the close. EUR was given a lift on further reports (WSJ) that there

was a significant split in the ECB board's decision for QE. Asia witnessed an

opening volatile swing as traders reacted to the weekend attack on the Saudi oil

production facilities. Bloomberg chart shows an opening range of $1.1067-93

before it settled between $1.1070/85, the rate then slowly drifting off to

$1.1068 into Europe. 

- Support $1.1060/50, with decent sized option expiries noted lower down at

$1.1025(E1.03bln of EUR puts) and in the area between $1.1010-1.0990 E2.18bln,

of which E2.05bln are EUR puts. Resistance remains at $1.1100-10, a break

exposes the 50-dma at $1.1127 and 55-dma at $1.1139. 

- Attention this week on ECB speakers, following last week's ECB decision. ECB

Coeure gives opening remarks at G7 conference at 0645GMT. More interest in ECB

Lane at 1200GMT when he gives a keynote speech in London. More ECB speaking

events noted through the week. FOMC rate decision Wednesday in focus.