DAILY MARKET OUTLOOK on Major
Update Time: 17 May 2019 05:30 GMT

EUR/USD - 1.1177
Despite euro's resumption of decline from this week's 1.1265 (Monday) high to 1.1168 yesterday due to usd's strength in New York after upbeat U.S. data and rebound in U.S. yields, as price is expected to remain confined inside recent 1.1265-1.1135 range, reckon lower level would hold and yield rebound later today or Monday.

On the upside, a daily close above 1.1200 would be the 1st signal low is made and price would head back to 1.1225, then 1.1244/46.

Data to be released on Friday :
New Zealand manufacturing PMI, PPI inputs, PPI outputs, EU construction output, HICP, and U.S. leading indicator, University of Michigan sentiment.

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