The latest rally in the US dollar is due to the optimistic look of Trump's policy regarding economic growth. Equities rally and the currency is strengthening as President-elect boosts confidence in the future of the US economy. Donald Trump steps into power in January and until then he must form his administration which will be responsible for taking care of all duties of the Presidential institution.
Traders and investors appear to be optimistic as the market is handling this transition very well so far. Gold is down to multi-month low at $1,212, Silver also registered a major blow that drove price down to $17.07.
Chart: EUR/USD D1
The move to the downside will likely continue.
ReplyDeleteHas it was expected....
ReplyDeleteThank you for the relevant information.
ReplyDeleteLooks like it will keep pushing lower.
ReplyDeleteIt's going even lower.
ReplyDeleteAs always, very detailed analysis.
ReplyDeleteGreat post! I fully agree with your view.
ReplyDeleteNo sign of bottoming yet.
ReplyDelete