Stretched its recent easing to..........>

EURO-DOLLAR: Stretched its recent easing to $1.2160(61.8% $1.1916-1.2555 2018

range) in late NY Wednesday, the level marking the opening Asian low before rate

edged its way back to $1.2182, settling around $1.2175 into Europe. Focus today

on the ECB meeting, though traders widely expect no change to rates or forward

guidance. ECB Draghi press conference will be closely watched. Traders also

aware that the $1.2200 level holds the strike of very large expiries for today's

NY cut, totalling E5.24bn, which could act as an anchor, if not attraction.

Support remains at $1.2160/50, a break to open a deeper move toward $1.2100.

Resistance seen from above $1.2180 through to $1.2200, break to expose main near

term resistance between $1.2240/50. US data includes Weekly Jobless Claims,

Advance Trade Balance and Durable Goods with effects on UST yields to be

monitored.