Daily market outlook on major
Update Time: 13 Apr 2021 09:30GMT
USD/JPY - 109.39
Despite the greenback's erratic decline from March's 1-year peak at 110.96 to a 2-week bottom at 109.01 Thursday in tandem with falling U.S. yields, subsequent rebound suggests a temporary low has possibly been made and consolidation with upside bias remains for stronger retracement to 110.10/15, however, 110.38 (previous support) should remain intact and yield retreat early next week.
On the downside, only below 109.01 would revive bearishness for one more fall to 108.67/70 before prospect of correction due to loss of momentum.
Data to be released on Tuesday
New Zealand NZIER confidence, retail sales, Australia NAB business conditions, NAB business confidence.
U.K. BRC retail sales, GDP, Industrial output, manufacturing output, construction output, trade balance, Italy industrial output, Germany wholesale price index, ZEW economic sentiment, ZEW current conditions, EU ZEW survey expectation.
U.S. core CPI, CPI, redbook.
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