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EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Retains an underlying heavy feel into the European close, the rate
having seen an extended low of $1.0775 in early NY, revisited into the release
of the Weekly Jobless Claims, the data coming in higher than expected though
initial reaction was fairly muted. However, rate did eventually claw its way
higher, touching $1.0816 before turning lower through the 1600BST fix, as risk
was given another shove back by US Trump's comments concerning trade links with
China, currently resting on $1.0780. Support now seen into $1.0780/75 ahead of
the May7 low of $1.0767. A break of this latter level to expose the Apr24 low of
$1.0727. Resistance remains into $1.0820/25 ahead of $1.0850. 
- For Friday, German and Eurozone prelim GDP, US retail sales/industrial
production also cross. The
speakers schedule is quiet, with no major central bankers on the docket. 
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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