Sharp pullback from the ECB/ECB.........>

EURO-DOLLAR: Sharp pullback from the ECB/ECB Draghi react highs of $1.2537 to

$1.2364 in NY as market reacted to Trump comments that he wants to see a

stronger Usd and that Mnuchin's comments were taken out of context. Rate

recovered to $1.2431 but had drifted back below $1.2400 into Asia. Rate posted a

low of of $1.2370 before fresh demand emerged which lifted rate to $1.2433, with

corrective pullbacks this time supported above $1.2410. Market seen on headline

watch with Trump due to speak in Davos today, CNBC interview set for 1100GMT,

with main address due at 1300GMT. ECB Coeure speaks at 1000GMT. US Q4 GDP

1330GMT also in focus. Recovery continues into Europe, though at a slow pace, as

rate edges on to $1.2440.

* Support $1.2370/64. Resistance $1.2450-70. 

* EZ M3 Money Supply 0900GMT. ECB Survey of Professional Forecasters 0900GMT.