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April 03, 2019 17:46 GMT
Recovery off Tuesday's low of $1.1184...>
EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Recovery off Tuesday's low of $1.1184 extended through Wednesday
trade to a European morning high of $1.1255 before it settled between $1.1240-50
into NY. Risk appetite was evident through Asia and into Europe before this
outlook dampened into NY and eased rate back to $1.1225. Fresh demand emerged to
lift rate through the 1600BST fix to $1.1249, currently seen settled around
$1.1245. As reported in this morning the $1.1250 level holds the strikes of
more than E3bn of expiries at the Thursday and Friday NY cuts, E1.24bn/E1.91bn
respectively which could be helping to keep rate anchored in this area. Thursday
brings Germany Factory Orders at 0600GMT, market median 0.3%mm, -3.1%yy ahead of
US initial weekly jobless claims, though seen as curtain raisers for Friday's US
Employment Report(market median NFP 180k, AHE 0.3%mm, 3.4%yy). Resistance
$1.1250/55, $1.1280/85, $1.1300. Support $1.1225/15, $1.1200.
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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