Slipped lower following the ECB rate....>

EURO-DOLLAR: Slipped lower following the ECB rate announcement, and during

Draghi press conference, though announcement and press conference didn't provide

any major shocks with only reaction seen on comments concerning reinvestments.

One major bank suggested move lower in the rate was more a case of general USD

demand linked to positioning with liquidity beginning to be an issue as we

approach the Christmas and Year-end holidays. Rate traded down from $1.1392 to a

low of $1.1331, recovered to $1.1372 before it settled around $1.1360 into the

close. A fairly muted Asian session, despite disappointing China activity data,

saw rate hold between $1.1355/65 before Europe influenced it lower. Early sales

pressed rate to an extended low of $1.1346, currently around $1.1350. Support

seen at Thursday's mentioned low at $1.1331. Resistance $1.1365/72 ahead of

$1.1400.

- Option expiries of note: $1.1250(E1.44bn), $1.1300(E1.07bln) 

- ECB Guindos speaks at 0815GMT, Nowotny at 0900GMT.

- Flash PMI's from France, Germany and EZ provide morning's data interest. US

Retail Sales and IP later.