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FxWirePro: EUR/USD Daily Outlook

EURUSD has shown weakness after comments from Fed's Bullard and Chairman Powell on the rate cut. Federal Reserve Bank of St.Louis President James Bullard said that a lowering of the central bank's short-term rate target "may be warranted soon". The Fed chairman Powell failed to commit to easing. The pair declined temporarily till 1.13441 and is currently trading around 1.13613.

US durable goods order           Actual       Forecast    Previous  

Core Durable Goods orders m/m    0.3%      0.1%         0.0% (positive for US dollar)

Durable Goods Orders m/m    -1.3%            -0.2%        -2.1% (negative for US dollar)
 (Overall mixed)


Technically, near term support is around 1.13416-350 (23.6% fib and 200- day MA) and any convincing break below will drag the EURUSD till 1.1260 (20 and 100 day MA)/1.1200.

On the higher side, minor bullishness above 1.14000 and major trend reversal only above 1.1450 (Mar 20th high and major trend line resistance).

It is good to buy on dips around 1.1350-525 with SL around 1.1300 for the TP of 1.1445.

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July 2 15:00 UTC Released

DKCurrency Reserves

Actual

449.6 Stale

Forecast

Previous

451.7 Stale

July 2 13:45 UTC Released

USISM NY Biz Conditions

Actual

50 %

Forecast

Previous

48.6 %

January 31 00:00 UTC 764672764672m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 764672764672m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 776492776492m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 764672764672m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 776492776492m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 764672764672m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 764672764672m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 764672764672m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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