Reply To: Forex Traders Weekly Outlook – US Dollar Correction Continues with Lower Yields

#48426
TradersCom
Keymaster

In forex the USD is weaker with the AUD the strongest and the #CHF the weakest.

– Hopes that China’s #ZeroCovid policy may shift supporting the #AUD and #NZD with the trade relationships and lowered the safe haven flow to the USD.

In Europe preliminary CPI data out of the Germany moved lower in November (down -0.5% vs -0.2% est. YoY falls to 10% vs 10.4% est). The EURUSD is higher but has chopped up and down in the Europe so far with price action mostly between the 100 hour MA above at 1.0392 and the 200 hour MA at 1.03505.

Yesterday the EURUSD moved sharply to the upside in the early European session before rotating back lower and eventually taking out the Asian session lows in a wild up and down trading day.

Spot gold is trading up $13 or 0.74% at $1754.29
spot silver is trading up $0.36 or 1.73% at $21.28