DAILY MARKET OUTLOOK on Major
Update Time: 12 Sept 2018 06:30 GMT
EUR/USD - 1.1592
Yesterday's decline from 1.1644 (Europe) to 1.1565 due to renewed global trade tensions suggests euro's correction from Monday's 2-1/2 week low at 1.1526 has possibly ended and consolidation with downside bias is seen ahead of Thursday's ECB monetary policy meeting, below 1.1565 would pressure price towards 1.1526.
Only above 1.1644 would signal early retracement from August's 1.1734 peak has ended, then stronger gain to 1.1659 and later to 1.1680/90 would be seen.
Data released on Wednesday :
Japan business survey index, Australia consumer sentiment, Italy industrial output, EU employment change, industrial production, U.S. MBA mortgage application, PPI, beige book, and Canada capacity utilization.
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.
Recommended Content
Editors’ Picks
USD/JPY holds above 155.50 ahead of BoJ policy announcement
USD/JPY is trading tightly above 155.50, off multi-year highs ahead of the BoJ policy announcement. The Yen draws support from higher Japanese bond yields even as the Tokyo CPI inflation cooled more than expected.
AUD/USD extends gains toward 0.6550 after Australian PPI data
AUD/USD is extending gains toward 0.6550 in Asian trading on Friday. The pair capitalizes on an annual increase in Australian PPI data. Meanwhile, a softer US Dollar and improving market mood also underpin the Aussie ahead of the US PCE inflation data.
Gold price keeps its range around $2,330, awaits US PCE data
Gold price is consolidating Thursday's rebound early Friday. Gold price jumped after US GDP figures for the first quarter of 2024 missed estimates, increasing speculation that the Fed could lower borrowing costs. Focus shifts to US PCE inflation on Friday.
Stripe looks to bring back crypto payments as stablecoin market cap hits all-time high
Stripe announced on Thursday that it would add support for USDC stablecoin, as the stablecoin market exploded in March, according to reports by Cryptocompare.
US economy: Slower growth with stronger inflation
The US Dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.