Euro FX futures surged back above 1.12 on Thursday, reversing off a new year-to-date low near 1.11 set in the prior session. The currency rebounded as the U.S. dollar weakened, though the CVOL index showed volatility edging higher despite the price recovery. Markets face potential weekend event risks involving Middle East tensions and European sovereign debt, while immediate focus turns to Fed Chair Warsh speaking in Bangkok and Friday's release of the New York Fed Services Index and industrial production data.