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Sharp react rally on release of poor....>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Sharp react rally on release of poor US Retail Sales data, the rate
bouncing off a pre release low of $1.0789 to $1.0851 before momentum faded and
the ongoing war of words between the US and China reignited risk aversion, which
mainly benefited JPY and CHF. EUR/USD eased to $1.0804 into the European close,
with recovery efforts so far holding shallow as we head into the end of the
week. 
- Risk remains a key driver of direction, the situation between the US and China
will be watched carefully. 
- Support now seen into $1.0800, $1.0789, $1.0780/75 ahead of $1.0767.
- Resistance $1.0851, $1.0885, $1.0896/1.0900. 
- German ZEW survey, Fed minutes and global prelim PMI data for May take focus
in the coming week.
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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