EUR/USD - 0.9704

Despite resumption of downtrend to a fresh 20-year trough of 0.9537 (Europe) yesterday, subsequent rally due to selloff in usd in tandem with US yields to 0.9750 in New York signals a temporary low is made, intra-day retreat may head to 0.9640/50, below, 0.9600.

On the upside, only a daily close above 0.9750 would risk stronger retracement towards 0.9775 but 0.9810/13 should cap upside.

Data to be released on Thursday

Italy producer prices, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI.
U.S. GDP, PCE prices, initial jobless claims, continuing jobless claims, Canada GDP and average weekly earnings.
 

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