Saw a low of $1.1379 in opening NY......>

EURO-DOLLAR: Saw a low of $1.1379 in opening NY trade Thursday, recovered to

$1.1410 before it eased back to $1.1381 during the NY afternoon, recovering

ahead of the close to $1.1403. This late recovery gained some traction in Asia,

the rate able to edge its way to $1.1414 before it settled around $1.1410

through the balance of the session. Early Europe currently taking another look

at that $1.1414 level at writing. Resistance seen into $1.1426(hourly high

Oct24). ECB announcement in focus, no change in rates widely expected with main

focus on the economic outlook(having seen soft flash PMI's released earlier in

the week). Equity markets continue to be a cause of concern, though effects into

FX so far seen fairly muted. Risk aversion remains, despite official

rhetoric/actions in China to help steady markets. Support remains around $1.1380

ahead of $1.1350. Resistance $1.1426, with E1.15bn of expiries at today's NY cut

with strikes between $1.1420/30 noted. Further resistance seen into $1.1440/50.

Germany IFO due at 0800GMT ahead of ECB (rate announcement 1145GMT/ECB Draghi

press conference 1230GMT). US Trade, Durable Goods and Weekly Jobless Claims due

at 1230GMT.