DAILY MARKET OUTLOOK on Major
Update Time: 14 Sept 2018 05:30 GMT
EUR/USD - 1.1690
Euro's impressive rise from 1.1609 (Europe) to 1.1701 yesterday's due to rally in the Turkish lira as well as soft U.S. CPI data suggests re-test of August's 1.1734 peak would be forthcoming soon after minor consolidation in Asia.
However, loss of momentum should cap price below July's high at 1.1791.
On the downside, only a daily close below 1.1659 (last week's top, now sup) confirms temporary top is made and risks stronger retracement towards 1.1609.
On the data front, Italy will release CPI, then EU's trade balance and labour costs.
We also have 2 ECB officials delivering speeches during European morning starting ECB Smets in Brussels at 07:00GMT and ECB's Nowotny in Vienna at 08:00GMT.
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
AUD/USD holds above 0.6500 in thin trading
The Australian Dollar managed to recover ground against its American rival after AUD/USD fell to 0.6484. The upbeat tone of Wall Street underpinned the Aussie despite broad US Dollar strength and tepid Australian data.
EUR/USD comfortable below 1.0800 lower lows at sight
The EUR/USD pair lost ground on Thursday and settled near a fresh March low of 1.0774. Strong US data and hawkish Fed speakers comments lead the way ahead of the release of the US PCE Price Index on Friday.
Gold price finishes Thursday’s session set to reach new all-time highs
Gold price rallied during the North American session on Thursday and hit a new all-time high of $2,225 in the mid-North American session. Precious metal prices are trending higher even though US Treasury yields are advancing, underpinning the Greenback.
Bitcoin price extends retreat from $69K as old whales shift their holdings to new whales
Bitcoin price continues to move further away from the $69,000 threshold, gaining ground as BTC bulls hope for a retest of the $73,777 peak. This is because of the general assumption that clearing this blockade would set the tone for a reach higher, marking a new all-time high.
Bears have been standing before a steamroller so far this year
Despite a pushback on rate cuts from Christopher Waller, and what was supposed to be cautious trading sentiment ahead of critical US inflation data released later on Friday, the S&P 500 rose on Thursday, marking its best first-quarter performance in five years.