DAILY MARKET OUTLOOK on Major
Update Time: 11 Apr 2019 0 9:30 GMT
USD/JPY - 111.12
Despite dollar's resumption of decline from last Friday's near 3-week high at 111.82 to an 8-day low of 110.85 in New York yesterday, subsequent rebound suggests temporary bottom made and consolidation with mild upside bias towards 111.28/29 would be seen, however, 111.57/58 would cap upside.
On the downside, only below 110.85 would extend marginal fall to 110.53/54 before prospect of rebound due to loss of momentum.
After yesterday's U.S. CPI data n FOMC minutes, we have a slew of data due out later in the day starting with weekly initial jobless claims, final Marcg PPI and core PPI.
Pay attention to speeches by a number of Fed officials (please refer to our EI section for details).
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