[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]09 Jan 2017[/B] [I]02:05 GMT[/I]
EUR/USD - 1.0533
Euro’s strong retreat in post-NFP New York session from 1.0622 to as low as 1.0525 confirms first leg of correction from last Tuesday’s near 14-year trough at 1.0341 has ended there and 1-2 days of consolidation with downside bias remains for weakness to 1.0481/83, however, reckon 1.0433 (previous res, now sup) would contain downside and yield another rebound.
On the upside, only above 1.0575/85 suggests pullback is possibly over and risks re-test of 1.0622 later.
Data to be released today:
Japan market holiday, Australia building approvals, China CPI, PPI, Germany industrial production, trade balance, current account, exports, imports, Swiss retail sales, UK Halifax house price, Italy unemployment rate, EU sentix index and unemployment rate.