Softer than forecast US ISM mfg.........>

EURO-DOLLAR: Softer than forecast US ISM mfg (following earlier releases of

stronger Mfg data from China and the EZ), along little progress in Sino-US trade

negotiations, acted to weigh on the USD as the NY market returned in full

strength from their Thanksgiving holiday period. Some trimming back of USD longs

also aided the move as EUR/USD extended its recovery off an early NY low of

$1.1003 to $1.1090 before it settled around $1.1080 into the close.

Consolidation in Asia as rate was restricted to a range of $1.1071-83. Focus on

US tariff talk as US again threatens France, Austria and Italy with retaliation

for their digital services tax proposals (which would affect US companies in

this sector).

- EZ data calendar seen light. ECB speakers include de Cos & Coeure. Hearings

scheduled from ECB Board nominees Panetta & Schnabel. US Trump in Europe for

NATO talks, watch for comments/Tweets. 

- Resistance $1.1090-1.1100 (tech focus on Nov21 high $1.1097), $1.1120/25,

$1.1140/50. Support $1.1010/00, $1.0980.