The rate extended its rally on..........>

EURO-DOLLAR: The rate extended its rally on Thursday, making a brief show above

$1.1700 before easing back below. The bounce was aided by the release of softer

than forecast U.S. CPI, with ECB President Draghi's press conference being

deemed less dovish than previous instances.

- The pair last deals at ~$1.1690. Resistance remains around $1.1700, after the

pair managed to close above its 100-DMA ($1.1666), with any break opening up the

August 30 high ($1.1718), while bears need a clean break of $1.1600 to resume

the downtrend.

- EZ labour cost & trade balance headline the regional docket on Friday, with

ECB's Nowotny due to speak. It is also worth noting that ECB's Razmusa will

speak later today, she is deputising for Rimsevics amid his bribery probe. Focus

next week will turn to final CPI data for August and preliminary PMI data, as

well as a speech from Draghi.