DAILY MARKET OUTLOOK on Major
Update Time: 14 Aug 2018 09:30 GMT
USD/JPY - 111.02
Despite the greenback's fall to 110.11 yesterday, subsequent rally to 111.14 today on easing of contagion fears from Turkish lira crisis suggests decline from July's 6-month peak at 113.17 has ended there and choppy trading with upside bias would be seen for gain towards 111.47/50.
However, loss of momentum would keep price below 111.88/90 and yield retreat later this week.
On the downside, only below 110.52 would indicate said recovery has ended instead and turn outlook bearish for a re-test of aforesaid support.
Data to be released on Tuesday :
Japan industrial output, capacity utilization, France ILO unemployment rate, Germany GDP, CPI, HICP, France CPI, CPI (EU norm), ZEW economic sentiment, ZEW current conditions, Swiss producer/import price, UK claimant count, ILO unemployment rate, employment change, average weekly earnings, EU GDP, industrial production, ZEW economic sentiment.
U.S. import prices, export prices, Redbook sales.
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