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The USD marginally underperformed.......>

EURO-DOLLAR
EURO-DOLLAR: The USD marginally underperformed overnight, but is starting to
recover at the European crossover. Improved risk appetite in the early part of
Asia was seen after President Trump's positive remarks on getting a trade deal
done with China. EURUSD lifted to $1.1334, but later faded to settle in the
middle of its 18 pip range. Option-related support is seen at $1.1300 which
holds a very large E2.46bn expiry for today's NY cut. The 21-dma provides
near-term resistance at $1.1356, above here opens a run at the Dec11 high &
50-dma at $1.1400/04. Quiet on the calendar today with Eurozone Industrial
Production the main highlight at 1000GMT. Industrial production in the Euro Area
is anticipated to grow by 0.3% m/m in October. In September, it declined by
0.3%. US CPI follows at 1330GMT, the MNI median is expecting November CPI to be
flat on a m/m basis. Euro-dollar last $1.1325.

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