DAILY MARKET OUTLOOK on Major
Update Time: 13 Mar 2019 06:30 GMT
EUR/USD - 1.1290
The single currency's rise to 1.1307 in New York yesterday suggests medium-term decline has made a temporary low at last Thursday's 20-month trough at 1.1177 and consolidation with upside bias remains for stronger retracement towards 1.1321/26 would be seen, however, loss of momentum would keep price below 1.1351/55 and yield retreat later this week.
On the downside, only below 1.1249 would indicate aforesaid recovery has ended instead and risk would increase for stronger weakness towards 1.1222.
Data to be released on Wednesday :
Australia consumer sentiment, Japan corporate goods price, machinery orders.
EU industrial production, and U.S. MBA mortgage application, durable goods, durables ex-transport, durables ex-defense, PPI, construction spending.
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