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Recovery off Tuesday's freshly..........>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Recovery off Tuesday's freshly printed YTD low of $1.0926 extended
through Wednesday trade to $1.1038 (tech traders having noted the key reversal
close Tuesday). Risk tone improved on the back of HK withdrawing its extradition
bill Wednesday, with reports overnight confirming ministerial level Sino-US
trade talks to take place in early Oct buoying that outlook. EUR/USD managed to
extend the topside slightly to $1.1039 though rate slowly eased off to $1.1025
through a fairly subdued trading session. Tech traders have noted that the DXY
has found support on approach to its 50% retrace level at 98.27 (rise from Aug23
to Sep03). 
- Support $1.1025, $1.1005/1.0995, $1.0980. Resistance $1.1045/50, $1.1070/75,
$1.1100/10. 
- Focus on German Factory Orders at 0600GMT. ECB de Guindos speaks at 0700GMT.
- Focus on US ADP 1215GMT ahead of Friday NFP. Weekly Jobless Claims at 1230GMT,
US non-mfg ISM, Factory Orders at 1400GMT.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MarketsForeign Exchange Bullets
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MarketsForeign Exchange Bullets

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