EUR/USD: Daily recommendations on major
|EUR/USD - 1.0523
Although euro's retreat from last Thursday's 8-day high of 1.0641 suggests recovery from April's fresh 5-year bottom at 1.0472 has possibly ended and despite yesterday's wild swings in post-US CPI, subsequent retreat from 1.0576 on broad-based rebound in usd signals consolidation with mild downside bias remains for weakness towards 1.0483 but 1.0472 should remain intact initially.
On the upside, only a daily close above 1.0600 would risk re-test of 1.0641, break, 1.0698/00 later.
Data to be released on Thursday
New Zealand food price index, inflation forecast, Japan current account, trade balance, Eco watchers outlook, Eco watchers current, Australia consumer inflation, Swiss producer/import price.
U.K. RICS housing price balance, GDP, trade balance, construction output, manufacturing output, industrial output, NIESR GDP estimate.
U.S. initial jobless claims, continuing jobless claims and PPI.
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