Reversed away from Thursday's...........>

EURO-DOLLAR: Reversed away from Thursday's European morning high of $1.1173 with

the corrective pullback picking up momentum into early NY as US data came in on

the firmer side (Retail Sales, Initial Jobless Claims and Phila Fed). Rate

pressed down to $1.1128 before closing the day around $1.1135. Rate touched an

early high of $1.1143 in Asia only to be eased down to $1.1131 as USD/JPY

rallied into the Tokyo fix (made fresh YTD highs of Y110.29) but had recovered

to $1.1140 into Europe. 

- Support $1.1130/20, stronger into $1.1100. Resistance $1.1145/50, $1.1170/80

ahead of $1.1200. 

- Decent sized option expiries for today's NY cut should act to keep rate hemmed

in between $1.1100-1.1200. Notable strikes are $1.1090-1.1105(E2.64bln),

$1.1120-25(E2.1bln), $1.1145-55(E2.84bln), $1.1165-66(E661mln),

$1.1175-85(E1.1bln), $1.1200(E3.41bln).

- ECB Current Account at 0900GMT. EZ Final CPI at 1000GMT. 

- US Housing data at 1330GMT, IP/Mfg and Cap.Ut. at 1415GMT. Prelim. UofM at

1500GMT.