USD/JPY hints a move to 123.77 – Commerzbank

FXStreet (Edinburgh) - In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could see its upside reaching the 123.77 recent high.

Key Quotes

“USD/JPY charted an almost replica session to leave the outlook unchanged”.

“The market is seeing decent recovery off the 122.20 support”.

“The intraday Elliott wave counts are more positive and currently imply a move to 123.77 then recent high. Above here will target 125.00/28 (the August high)”.

Dec 2, 2015

AUD/USD could reach 0.7300 – OCBC

FX Strategist at OCBC Bank Emmanuel Ng sees the likeliness of the Aussie dollar to visit the 0.7300 handle...

UK construction PMI falls to a 7-month low on weak expansion of housing activity

The Markit/CIPS UK Construction Purchasing Managers' Index fell to 55.3 in November from 58.8 in October. Growth in Britain's construction industry dropped to a seven-month low in November, staying below the forecast figure of 58.2 arrived at by economists in a Reuters poll. According to the survey, the weakest expansion in housing activity since mid-2013 caused a sharp decline in construction PMI.