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Release Friday of US production data,...>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Release Friday of US production data, which showed a slight miss,
provided the catalyst for USD sales, ignoring the better revisions in the data.
UST yields also eased through Friday's NY session which allowed EUR/USD to
recover off its early NY low of $1.1300 to $1.1344 before it settled around
$1.1320 into the close. Early consolidation in Asia saw rate hug $1.1325, dipped
to $1.1319 in early Tokyo before risk appetite sparked a round of EUR/USD demand
which lifted the rate to $1.1339 ahead of Europe. Buoyant tone remains into
early Europe though range remains uninspiring. 
- Resistance noted between $1.1345-50 ahead of $1.1362-67(50-dma/55-dma,
100-dma, with $1.1363 the 76.4% retracement of the move from $1.1420 to
$1.1177). Support $1.1320, $1.1300-1.1290. 
- Option expiry of note at today's NY cut, $1.1250 for E1.42bn.
- Light data calendar Monday. Traders highlight US FOMC Wednesday and EZ
Services PMI data Friday.  
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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