According to the New York Fed, US consumer inflation expectations for the year ahead decreased 5.2% in November, a level not seen since August 2021, from 5.9% in October. Median home price growth expectations fell to 1%, its lowest reading since May 2020. Meanwhile, price changes declined by 0.6% for gas (to 4.7%), 0.8% for food (to 8.3%), and 0.1% for rent . The median expected change in the cost of medical care remained unchanged at 9.6%, while the median expected change in the cost of college education increased by 0.1% to 9.4%. Greenback strengthened in the afternoon and is trading to new session highs versus the JPY, AUD, and NZD.
EURUSD pair erased early gains and is currently testing an upward trendline. Should a break lower occur, downward move may accelerate towards major support at 1.0500, which is marked with previous price reactions and 200 SMA (red line). Source: xStation5
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AUDUSD pair fell over 1.0% on Monday after buyers once again failed to break above 200 SMA (red line). The nearest support at watch lies at 0.6700. Source: xStation5
