The earlier break under $1.1112 to......>

EURO-DOLLAR: The earlier break under $1.1112 to $1.1107 saw rate post a fresh

2019 year low(lowest level since May 2017), the move seen in reaction to the

Wall St open as risk aversion continued to weigh. However, momentum was not

enough to bring pressure to bear on $1.1100. Failure prompted a sharp round of

short covering, prompted by a poor set of US PMI numbers, then aided by 10y

UST's being squeezed to multi year lows. Rate broke back above its earlier Asian

high of $1.1157, momentum taking it above Wednesday's high of $1.1180 before

meeting resistance at Tuesday's high of $1.1188. A break here to expose next

resistance at $1.1200/05($1.1203 61.8% $1.1263-1.1107).

- Friday brings ECB Nowotny giving a briefing to IMF delegation in Vienna at

0830GMT. 

- US Durable Goods at 1230GMT.