Recovery off Wednesday low of $1.1570...>

EURO-DOLLAR: Recovery off Wednesday low of $1.1570 extended to $1.1650 post

London fix, with reports that the US was looking to negotiate with China over

trade boosting risk appetite. Rate settled back between $1.1625-30, after

touching a pullback low of $1.1617, into the close. EUR/JPY traded higher in

Asia on the back of the risk outlook, pulled EUR/USD up to $1.1643 before it ran

into headwind sell interest. Asian traders have suggested stronger resistance

between $1.1650/60. Rate settled back between $1.1631/39 into Europe. Fresh

sales in Europe has taken rate back to retest that NY pullback low of $1.1617, a

break to open a deeper move toward $1.1605/00. Focus today on the ECB rate

announcement. No change widely expected with more attention placed on ECB Draghi

press conference following reports Wednesday the ECB to lower growth forecasts.

Traders also draw attention toward the decent sized option expiries for today

and Friday totalling $1.1625 for E1bn; $1.1600 for E3bn; $1.1550 and $1.1500 for

E2.9bn each.