From: Daniel Sabba <

From: Daniel Sabba < To: mjeevacation(kgmail.corni" jeevacation(kgmail.com> CC: Vahe Ste anian Arians Dwver Morris Subject: Fw: NY Spot trading Morning Report - Mar 11 Date: Wed, 11 Mar 2015 13:41:21 +0000 Inline-Images: ATT00002.gif; ATT00003.gif; ATT00004.gif; ATT00005.gif , Paul Classification: Public See euro commentary below. From: DBSpot Trading Sent: Wednesday, March 11, 2015 09:35 AM Subject: NY Spot trading Morning Report - Mar 11 Deutsche Bank Spot Trading Morning Report EUR (Michael Waugh-Bacchus) Open 1.0570 Support 1.0563 (Low Sep 2003) Resistance 1.0907 (Hi 6 Mar) • Euro heavy as ever as Draghi reinforces commitment to their bond buying programme. Every morning this week I walk in log on to EBS and note net aggressive flows in excess of 4 bio. With bond yields under the severest of pressure it's hard to make a case for the trend of late to be compromised. Position wise I lighten yesterday a 1.0700 and of course feel under invested, short is the way , good luck. GBP (Michael Waugh-Bacchus) Open 1.5060 Support 1.5033 (low 6 Mar) Resistance 1.5209 (Low 5 Mar) • The strength of the dollar will sure prevail heading in FOMC next week. Better names appear to be selling cbl and I will add to shorts on a break of 1.5025 targeting 1.4810-20 , good luck. CHF (John Carrion) Open 1,0685 Open 1.0065 Support 1,0550 Support 0,9830 Resistance 1,0800 Resistance 1,0236 (pre eurchf peg-level) • The powerful dollar rally continued overnight with USD/CHF touching the 1.0000 level. Some short term targets have been reached here and we are not far from the level where the SNB EFTA01196854 pulled the peg (1.0236) so expect some more two way interest to evolve over the next few days. Please Note • This email is distributed for information purposes only and does not constitute research nor is it not intended as such. The information has been prepared by Deutsche Bank Global Markets Sales & Trading desks. The information contained in this document is based on material we believe to be reliable; however, we do not represent that it is accurate, current, complete, or error free. This document does not constitute an offer, an invitation to offer or a recommendation to enter into any transaction. This material does not represent a formal or official view of Deutsche Bank as the views expressed herein are solely those of the author(s), which may differ from those of Deutsche Bank Research Fx Spot Trading Deutsche Bank Pascioltiv- Perform- This communication may contain confidential and/or privileged information. If you are not the intended recipient (or have received this communication in error) please notify the sender immediately and destroy this communication. Any unauthorized copying, disclosure or distribution of the material in this communication is strictly forbidden. Deutsche Bank does not render legal or tax advice, and the information contained in this communication should not be regarded as such. EFTA01196855