Trial now
CROSS ASSET

Equities Extend Recovery, Nears Friday High

COLOMBIA

April Trade Deficit Widens

EURO-DOLLAR
EURO-DOLLAR: Recovery off traded low of $1.1325 aided by cable's stronger
bounce, the rate able to edge on to a high of $1.1360 before momentum faded.
Rate was seen settling around $1.1350 during the NY afternoon. Growth concerns
continued to apply a negative weight on the EUR, following the miss in Germany
IP(after poor Germany Factory Orders Wednesday) while EU Moscovici highlighted
that the economic slowdown in Europe is to be more pronounced than expected,
with "considerable uncertainty" surrounding Italian fiscal policy. Friday brings
France and Italy IP which will should provide more interest than usual. Support
now seen at $1.1330/25 ahead of $1.1300 with focus on $1.1290/80. Resistance
$1.1360 ahead of $1.1380 and $1.1400/10. Option expiries for Friday's NY cut
seen at $1.1280(E805mln), $1.1380(E767mln) and $1.1750(E558mln).
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com