Recovery off the Aug01 low of $1.1027...>

EURO-DOLLAR: Recovery off the Aug01 low of $1.1027 continued through Friday's

trade to $1.1116, despite a slight blip lower on release of the US Employment

Report, though this was quickly brushed aside. Rate held above $1.1100 through

to the close. Early Asia continued Friday's late consolidation before risk

aversion gained a boost into the Tokyo open. The US-China simmering trade spat

boosted JPY, aided in part by the soft CNY fix which saw USD/CNY edge above

Cny7.00, sales of USD/JPY, which took rate below Y106.00, prompted a push up to

$1.1133 in EUR/USD. Rate dipped to $1.1112 before it settled around $1.1130 for

the balance of the session and into Europe.

- EZ Services/Composite PMI data provides the morning's data interest. 

- US PMI and ISM non-mfg data in focus for this afternoon. 

- Expect some resistance into $1.1150, stronger at the Jul31 high of $1.1162.

Support $1.1100, $1.1080.

- US-China trade spat remains in view for risk outlook. Beware Trump tweets.

Fedspeak this week includes Bullard(Tue), Evans(Wed).