DAILY MARKET OUTLOOK on Major
Update Time: 12 Dec 2019 03:30GMT
EUR/USD - 1.1138
The single currency's rally above last Wednesday's 4-week peak at 1.1115 to 1.1144 on usd's weakness in post-FOMC trading suggests a re-test of October's 2-month peak at 1.1179 would be seen after consolidation, break would extend upmove from October's low at 1.0880 to 1.1195/00 but loss of momentum would keep price below 1.1205 and yield much-needed correction later.
On the downside, only below 1.1097 would indicate a temporary top has been mad risk would increase for a much-needed retracement to 1.1071.
Data to be released on Thursday :
New Zealand food price index, Japan machinery orders.
UK RICS housing price balance, parliamentary election, Germany CPI, HICP, Swiss producer/import price index, SNB interest rate decision, France CPI (EU norm), CPI, EU industrial production, ECB interest rate decision, ECB deposit rate decision.
U.S. initial jobless claims, PPI, core PPI.
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