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.
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