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.
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.
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.
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.
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.
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.
Russia launched hypersonic missile strikes against Ukrainian military facilities, triggering market risk aversion and pushing gold to rise for four consecutive days, reaching a two-week high.
The Bank of Japan may raise interest rates further at the December meeting, as the market focuses on expectations of the neutral interest rate and the impact of various economic data on the decision.
Driven by the tensions between Russia and Ukraine and the sentiment for safe-haven assets, spot gold rose to $2,655.27 per ounce on Wednesday, reaching a new high in over a week.
The latest report from the European Central Bank states that trade tensions, weak economic growth, and geopolitical uncertainty pose threats to financial stability in the Eurozone.
The Japanese yen lacks upward momentum due to uncertainties in the Bank of Japan's policy. The USD/JPY remains strong, supported by U.S. Treasury yields, while the market awaits guidance from Japan's CPI data.
JPMorgan predicts the Euro may fall to 1.00-1.02 against the Dollar in coming quarters, driven by U.S. tariff and fiscal policies strengthening the Dollar, while ECB's accommodative stance pressures the Euro.
As post-election fervor fades, the dollar's momentum levels off. Technical indicators and market signals suggest limited short-term gains, with currency divisions adding uncertainty.
Spot gold hit a one-week high on Wednesday, driven by Russia-Ukraine tensions and a weaker US dollar. Safe-haven buying and Fed policy remain key drivers of gold price fluctuations.
Goldman's latest report forecasts that the pound will rise significantly in the coming months and is optimistic about the dollar's strong performance over a longer period, which may have a profound impact on the foreign exchange market.
Influenced by inflation and employment market data, the Federal Reserve may adopt a two-stage rate-cutting strategy. The probability of a short-term pause in rate cuts is low, and the future path depends on economic data performance.
The surge of the US dollar has been thwarted, and the Japanese yen is rebounding, showing resilience driven by policy expectations and profit-taking. The volatility in global currency markets continues to heat up.
The Canadian dollar's performance is highly correlated with the US dollar, and its future trend will depend on Canadian CPI data, central bank policy expectations, and changes in oil prices.
Goldman Sachs has altered its long-term bearish outlook on the US dollar, believing that tariff policies and US economic growth will help the dollar remain strong over the next year.
Gold has continued to decline, marking the largest weekly drop in three years. Analysts predict it may fall to $2,400 by the end of the year, although global uncertainties continue to provide support for safe-haven demand.
Bank of Japan Governor Kazuo Ueda stated that the possibility of raising interest rates has increased due to economic improvement, but no specific timeline was indicated, leading to a weakening of the yen.
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