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Release Tuesday of weaker than..........>

MNI (London)
EURO-DOLLAR: Release Tuesday of weaker than forecast Germany ZEW data provided
the added weight to take rate to an extended low of $1.1690, off Monday's high
of $1.1791. Rate recovered through the NY session to $1.1750 ahead of the close.
Announcement late Tuesday providing proposed details of the next 10% tariffs to
be imposed on $200bn of Chinese imports saw a quick move into Jpy, sales of
EUR/JPY acted to weigh back on EUR/USD and took rate back to $1.1724 before it
settled around $1.1730 for the balance of the session, markets settled as the
USD/CNY was fixed in the expected area(Cny6.6234). Support seen at $1.1710,
stronger between $1.1690/80. Resistance $1.1750, $1.1760/65 ahead of
$1.1790/1.1800. Speeches in Frankfurt from ECB President Mario Draghi at
0700GMT, ECB Executive Board member Peter Praet at 0730GMT get the day underway.
The next batch of speeches at 1200GMT with BBK Board member Claudia Buch
speaking in Frankfurt and at the same time ECB Executive Board member Yves
Mersch, also in Frankfurt. US Trump begins Europe tour, attends NATO Summit in
Brussels. US PPI in focus into NY trade. 
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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