DAILY MARKET OUTLOOK on Major
Update Time: 03 Dec 2019 09:30GMT
USD/JPY - 109.09
Dollar's retreat from a 6-month high at 109.72 to 108.93 in New York yesterday suggests upmove from Aug's 33-month trough at 104.46 has made a temporary top there, subsequent rebound would bring choppy trading before prospect of another fall, below 108.88/93 would extend to 108.48 but 108.25 should hold today due to oversold condition.
On the upside, only above 109.41 signals correction has ended and may risk re-test of 109.72.
Data to be released on Tuesday:
UK BRC retail sales, Markit construction PMI, Australia current account, RBA interest rate decision, Swiss CPI, France budget balance, EU producer prices.
U.S. redbook, ISM New York index.
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