DAILY MARKET OUTLOOK on Major
Update Time: 02 Oct 2018 05:30 GMT
EUR/USD - 1.1576
Yesterday's resumption of decline from last Monday's 3-1/2 month peak of 1.1815 to a 2-1/2 week low at 1.1564 suggests marginal weakness would be seen after consolidation, however, loss of downward momentum should keep price above key sup at 1.1526 (September's bottom) and bring a much-needed correction later.
On the upside, a daily close above 1.1629 signals temporary low is made and yield stronger gain to 1.1651, however, reckon 1.1685 would cap upside.
The euro countries' eco. calendar is pretty light with EU PPI being the only data due out. However, we have ECB Galhau speaking in Paris at 14:30GMT.
There is EU Eco. and Financial Affairs Council meeting (ECOFIN) today which starts at 09:00GMT and ECB VP de Guindos will participate.
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