Touched a fresh 2020 low of $1.0778.....>

EURO-DOLLAR: Touched a fresh 2020 low of $1.0778 in early Europe Thursday,

influenced by USD/JPY's extended recovery with the USD making gains across the

board. A choppy session followed as rate recovered to $1.0821 in early NY, then

dropped back to $1.0783 through the 1600GMT fix. Recovery made a brief show back

above before it sank back to $1.0783 into the close. In Asia, risk was again

bruised by reports of further COVID-19 spread outside of China (S.Korea, 2 cases

in Australia from returnees from the Diamond Princess liner), which allowed

EUR/USD to edge to $1.0795, holding above $1.0790 into Europe. 

- Focus turns to release of flash PMI's in France, Germany and the EZ, from

0815GMT thought to 0900GMT. Earlier releases in Asia reflected the negative

effects of COVID-19 on Japan and Australia Mfg PMI.

- Support remains into the reported option linked interest into $1.0775, a break

to expose $1.0750, then $1.0730. 

- Resistance $1.0800, $1.0821, $1.0840/50.

- COVID-19 developments remain key for risk. ECB Lane(dovish) speaks in NY at

1700GMT.