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PIPELINE

$8B Debt Issuance to Price, $3B Egypt 3Pt Leads

EURGBP TECHS

Sharp Retracement

FED

NY Fed Weekly Economic Index (WEI)

Solid EU Svcs PMI's Underpin......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Solid EU Svcs PMI's Underpin
EURUSD breached 1.12 yesterday for the first time since early March. Despite
this, strong EU Svcs PMI reads amid the broader risk outlook extended the
recovery toward 1.1250. Bulls need to clear the 1.1330/35 area, before
challenging broken trendline resistance & 100-dma at 1.1349/58. Bears continue
to focus on a downside break of the Mar 7 low at 1.1177, opening channel base
support off the Nov lows at 1.1163.