XRP rose by 10.1% on November 27, bringing its total market capitalization to $83.739 billion, marking a cumulative increase of 30.22% for the week, as the cryptocurrency market experienced a significant rebound.
On Monday, gold prices fell below $2,630, with bears dominating the market. If the $2,600 support is breached, it may further test the 100-day moving average, while bulls need to reclaim the 50-day moving average to reverse the trend.
The three major U.S. stock indexes closed higher on Monday and set intraday historical highs, while most major European and Asian stock markets rose. The upcoming Thanksgiving holiday may lead to a decrease in trading volume this week.
Eurozone's November PMI fell significantly below expectations, indicating a contraction in economic activity. The Euro dropped to a 23-month low against the US Dollar, and the yields on major European bonds declined notably.
Chicago Fed President Goolsbee stated that unless there are significant signs of economic overheating, the Federal Reserve will continue to cut interest rates, gradually moving towards a neutral rate level.
Significant progress has been made in the ceasefire agreement between Israel and Hezbollah, while Trump's trade reversal has weakened gold's safe-haven appeal, leading to a sell-off that pushed prices to a one-week low.
On November 25, CBOT grains rebounded as wheat, soybeans, and corn rose slightly, driven by a weaker dollar and Black Sea supply concerns. Fund position dynamics add short-term uncertainty.
On November 25, US crude traded near $71.15 after rising 6% last week. Geopolitical tensions support prices short-term, but weak demand and a strong dollar may cap gains.
Hua Chuang Securities suggests the Trump administration lacks effective tools to intervene in the dollar. The strong dollar may persist due to its policy mix, with intervention being costly and risky.
This week, the domestic futures market diverged as industrial products faced supply-demand pressure with weak fluctuations, while oils and fats weakened on lower policy expectations. The overall trend remains weak.
The Global Precious Metals MMI index rose by 6.48% month-on-month, but a stronger dollar post-election and policy concerns have dampened market bullish sentiment, with palladium prices dropping to a nine-week low.
On November 25, the U.S. dollar index fell, spurring capital inflows and lifting Asia-Pacific stocks. The Nikkei 225 surged nearly 2%, while the MSCI Asia-Pacific index (ex-Japan) rose 0.66%, ending its losing streak.
Reports of a possible Russian attack on Ukrainian government buildings have intensified geopolitical tensions, causing gold prices to soar by nearly 20 dollars to 2689.61 dollars per ounce, with market risk-aversion sharply increasing.
The CBOT grain futures market fell across the board on Friday, influenced by ample global supply, shifts in capital flow, and international trade dynamics, leading to a short-term expectation of low-level fluctuations.
The U.S. Dollar Index broke through the 107 mark, reaching a 13-month high due to strong unemployment claims data and the Federal Reserve's hawkish stance, while Bitcoin continued to soar to a record high, nearing the $100,000 threshold.
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