DAILY MARKET OUTLOOK on Major
Update Time: 16 May 2019 05:30 GMT

EUR/USD - 1.1206
Despite euro's resumption of decline from this week's 1.1265 high (Monday) to 1.1178 on Italy's budget deficit concerns, intra-day jump to 1.1225 after news Trump may delay auto-tariffs suggests choppy trading inside recent 1.1135-1.1265 broad range would continue with upside bias.

Only below 1.1178 risks marginal weakness but loss of downward momentum should keep price well above 1.1135 and bring another rebound later.

Data to be released on Thursday :
Japan corporate goods price, China house price index, Australia employment change, unemployment rate, Italy CPI, trade balance, EU trade balance, U.S. building permits, housing starts, initial jobless claims, Philadelphia Fed survey, and Canada manufacturing sales ADP employment change.

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