DAILY MARKET OUTLOOK on Major
Update Time: 22 Jan 2020 03:30GMT
EUR/USD - 1.1081
Despite euro's rebound from Monday's 3-week low at 1.1077 to 1.1118 in New York yesterday, subsequent retreat suggests recovery has ended and below 1.1077 would extend recent decline from December's 4-1/2 month peak at 1.1239 to 1.1041, then 1.1005/10.
On the upside, only above 1.1129 would risk stronger retracement to 1.1142/46, then 1.1172.
Data to be released on Wednesday:
Australia consumer sentiment, France business climate.
Italy industrial orders, industrial sales, UK PSNB, PSNCR.
U.S. MBA mortgage applications, national activity index, monthly house price, existing home sales, and Canada CPI, new housing price index, wholesale trade, Bank of Canada interest rate decision.
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