Trump trade continues, US dollar rises on Wednesday Gold may fall towards $2500

On Wednesday, due to the expected rebound of the US CPI in October, the US dollar index remained strong and unchanged, ultimately closing up 0.522% at 106.48
CWG Markets | 65 dagar sedan

On Wednesday, due to the expected rebound of the US CPI in October, the US dollar index remained strong and unchanged, ultimately closing up 0.522% at 106.48, setting a new high for the year. The collective surge in US bond yields, with the benchmark 10-year US bond yield closing at 4.468%; The two-year US Treasury yield, which is more sensitive to monetary policy, closed at 4.294%.

The US CPI for October met market expectations, and expectations for a Fed rate cut in December heated up. On Wednesday, spot gold rose and fell back, ultimately closing down 0.98% at $2572.93 per ounce. Spot silver ultimately closed down 1.24% at $30.34 per ounce.

International crude oil has rebounded under the push of short covering, but the strong US dollar has limited its gains. The WTI crude oil market experienced a V-shaped reversal, ultimately closing up 0.1% at $67.91 per barrel; Brent crude oil closed up 0.21% at $71.76 per barrel.

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Markets turn cautious ahead of Trump inauguration

Markets turn cautious ahead of Trump inauguration

Fed’s Waller hints at first half rate cut, but dollar edges up. Wall Street slips despite solid US retail sales and strong bank earnings. China GDP beat also fails to lift markets as Trump inauguration looms. Pound continues to bleed, stronger yen weighs on Nikkei.
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Daily Global Market Update

Daily Global Market Update

The GBP/USD traded sideways with a positive trend signal, while Bitcoin fell 1.2%, showing a negative ROC. US Crude dropped 1.9% but showed positive momentum, and the AUD/USD dipped 0.2% with a positive CCI. Coinbase reintroduced Bitcoin-backed loans, US retail sales rose, and gold hit a one-month high. Key economic updates include Japan's investment data and UK's retail sales.
Moneta Markets | 2 dagar sedan