Slow session in Asia as markets gear....>

EURO-DOLLAR: Slow session in Asia as markets gear up for what is expected to be

an event filled day. Trade in Asia was confined to a range of $1.1256-67, this

after rate had attained an extended recovery high Tuesday of $1.1284. Overnight

downgrading of global growth outlook by Moodys has weighed on equities. ECB Rate

Announcement and ECB Draghi press conference at 1145GMT and 1230GMT respectively

provide the initial focus. No change in rates widely expected with market hoping

for details concerning TLTROs from the Q&A session. US CPI due at 1230GMT also

in view, market median 0.4%mm, 1.8%yy. If release disappoints to the downside

could prompt further talk of Fed rate cuts. FOMC Minutes at 1800GMT provide

interest after the European close, FOMC seen in balance for no rate moves in

2019. Emergency EU Brexit Summit could have some effect via EUR/GBP. 

- Support $1.1255/50, $1.1225/20. Resistance $1.1284/85, $1.1300, $1.1320/30,

$1.1350. 

- Option expiries of note for today's NY cut seen at $1.1245-50(E1.26bn),

$1.1275(E1.25bn)