EUR/USD - 1.2075
Although euro's rebound from yesterday's low at 1.2052 (Europe) to 1.2099 in New York due to intra-day retreat in U.S. yields suggests decline from Tuesday's 10-week peak at 1.2181 has made a temporary bottom, outlook remains bearish for further weakness after consolidation, loss of downward momentum should keep price well above daily sup at 1.1987.
Only a daily close above 1.2116 dampens bearish view and risks stronger gain to 1.2130/40 before prospect of decline next week.
Data to be released on Friday:
New Zealand manufacturing PMI, Australia consumer inflation experience.
U.S. import prices, export prices, retail sales, industrial production, capacity utilization, manufacturing output, business inventories, U. Mich. sentiment, Canada manufacturing sales, wholesales trade.
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.