Recovery off Wednesday's month-end......>

EURO-DOLLAR: Recovery off Wednesday's month-end low of $1.1302 extended through

Thursday's trade to a high of $1.1424 before it settled around $1.1410 into the

close. Profit taking was cited in early Asia as rate continued to further pare

Thursday's gains, the eased to $1.1391 in fairly subdued pre NFP market

conditions. Rate managed to recover back above $1.1400 before lethargic markets

were awoken by a BBG headline saying that Trump to ask cabinet to draft a

possible China trade deal after his call with President Xi. Reaction took rate

to $1.1428 ahead of the European open, Europe taking it to $1.1430 before

momentum faded. However, rate retains a buoyant feel at writing, currently

around $1.1422. Resistance seen into the Oct25 ECB react high of $1.1432, with

interest said to extend toward $1.1440. Support $1.1390/85. Large option

expiries today of note at $1.1400(E3.08bn), $1.1325(E3.38bn) for today's NY cut,

though this to come after release of key US Employment Report (market median NFP

200k, AHE 0.2%mm). This morning we have release of EZ Manufacturing PMI's,

though will be overshadowed by the US data.