DAILY MARKET OUTLOOK on Major
Update Time: 27 July 2022 03:00GMT
EUR/USD - 1.0137
Euro's selloff on Tuesday from 1.0250 and then break of Friday's 1.0131 low to as low as 1.0108 in New York on broad-based rebound in usd signals 1st leg of correction from mid-July's 20-year bottom at 0.9953 has ended at 1.0278 (Thursday) and weakness to 1.0077
is seen, reckon 1.0048/50 would remain intact.
On the upside, only a daily close above 1.0180 would prolong choppy sideways swings and risk stronger gain towards 1.0204, then 1.0250/57.
Data to be released on Wednesday:
Australia CPI, Japan coincident index, leading indicator
U.K. BRC shop price index, Germany Gfk consumer sentiment, France consumer confidence, Italy business confidence, consume confidence, Swiss investor sentiment.
U.S. MBA mortgage application, durable goods, durables ex-transport, durables ex-defense, goods trade balance, wholesale inventories, pending home sales and Fed interest rate decision.
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