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Reports made late on Sunday suggested...>

EURO-DOLLAR
EURO-DOLLAR: Reports made late on Sunday suggested that German CSU party leader
Seehofer has resigned as the German interior minister re: disputes with Merkel's
governing CDU over migrants, with other reports suggesting that the matter will
go to a vote within the CSU.
- Recent comments from Seehofer point to him remaining in politics if the CDU
backs down on migration matters.
- EUR has been volatile in early dealing, and was aided by comments from German
Chancellor Merkel who stressed that she will pursue migrant pacts with Germany's
EU partners, after her CDU party gave her firm support on the matter.
- EUR/USD last $1.1676, off of the early $1.1632 low.
- Support is noted at $1.1600 (High June 28 now support). The cross trades above
$1.1670 (21-DMA), hovering around $1.1677 (Daily Bear Channel top off Apr 19
high) with the next level of resistance seen at $1.1723 (Low June 13).
- Regional manufacturing PMI data & comments from ECB's Praet provide the points
of interest for EUR traders today.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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