The single currency sat toward the bottom.....>

FOREX: The single currency sat toward the bottom of the G10 currency table

Thursday after the ECB cut both their inflation and growth forecasts for 2019

and halted their asset purchase program. EUR/USD was sold well below the $1.1350

mark but the pair managed to recoup the bulk of the day's losses ahead of the US

close. Reports suggesting some ECB members wanted an even more cautious tone to

the press conference added further weight in US trading hours.

-The JPY underperformed all others despite a poor showing from equity markets as

strong resistance ahead of Y113.50 was gradually erased. The Tankan survey due

Friday will be watched closely for confirmation of the move higher.

-Further volatility was seen in the SEK as November unemployment rate came in

well below expectations (5.5% vs. Exp. 5.7%), helping the SEK rally through the

50-dma against the EUR.

-Focus Friday turns to prelim December PMIs from across the Eurozone and US as

well as the November US retail sales report. ECB speakers due Friday include de

Guindos, Nowotny, Lautenschlaeger, de Cos, Razmusa, Angeloni and Visco.