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Strong NFP/AHE react saw Eur/Usd drop...>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Strong NFP/AHE react saw Eur/Usd drop to $1.2410 before it
recovered to $1.2491. Rate the eased off to $1.2449 ahead of its $1.2457 close.
Weekend reports that Germany's Merkel had failed to conclude coalition
negotiations with the SPD(talks to reconvene today), along with France Macron's
party losing 2-seats(first electoral test since coming to power in June - still
controls 309 seats in 577 seat National Assembly) acted to press Eur/Usd back to
$1.2425 in early Asia before general Usd sales allowed rate to edge up to
$1.2466. Corrective pullbacks were buoyed above $1.2450 ahead of Europe but rate
has since made a show below in early trade, touched $1.2447, currently around
$1.2451. Despite the data boost the Eur continues to trade with an underlying
buoyant tone. 
*Data: EZ Services/Composite PMI's 0900GMT, Sentix Investor Confidence 0930GMT,
EZ Retail Sales 1000GMT.
* ECB Draghi speaks in European Parliament 1600GMT. 
* Support $1.2425, $1.2410. Resistance $1.2466, $1.2490/1.2500. 
* Option expiries of note, $1.2350(E1.64bn), $1.2550(E1.22bn)
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MarketsForeign Exchange News
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MarketsForeign Exchange News

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