Gold prices have conquered $2010 and hit a six-month high, Oversupply expectations cover the oil market, Oil prices continue to be under pressure before the OPEC+meeting
WCG Markets:2023-11-28
Global markets enter the new week in a risk on tone with as market participants are positioning for no more rate hikes out of the Federal Reserve and pricing in cuts from Q2 2024.
US New Home Sales are due, along with the Dallas Fed Manufacturing Index.
EUR/JPY rally showed some weakness on Monday, with the pair witnessing a two-week high of 163.72, but buying pressure fades as the cross retreats below the 163.00 figure toward the 162.00 handle. At the time of writing, the EUR/JPY pair exchanges hands at 162.73, down by 0.40%.
On Cyber Monday it is expected U.S. shoppers will spend up to $12.4 billion on heavily discounted clothing, electronics, toys, cosmetics, and other products. Investors say possible winners for the day include Apple, Walmart, and Amazon due to strong online traffic.
Digital asset fund management company CoinShares published its digital asset fund flow weekly report on November 27, noting that markets’ expectation of exchange-traded funds (ETF) in the United States influenced the largest rise in inflows since late 2021.
Last Friday, the U.S. dollar index shocked downward in the U.S. plate once fell to 103.35 intraday low, and finally closed down 0.32% at 103.41. 10-year U.S. bond yields closed at 4.472%; on the Fed's policy rate is more sensitive to the two-year U.S. bond yields stabilized above the 4.9%, and finally closed at 4.955%.
FP Markets enhances its Commodity CFDs Offering with a range of popular new commodities.
USD printed an inside day with prices trading in a narrow range on Thanksgiving. Bond markets were closed amid thinner volumes elsewhere. Markets are looking ahead to US PMI data.
Today, the trading session was relatively calm as Wall Street stay closed due to Thanksgiving.
Forexcheif broker wishes to inform traders that trading schedule alterations will be implemented on November 23-24, 2023, in observance of the Thanksgiving holiday in the United States. The broker is therefore requesting their users to kindly take this information into account while conducting your transactions.
On Friday (November 24th), gold prices broke through $2000 per ounce, and there were almost no trading leads during the US market holiday. The focus now is on upcoming business activity data to find more clues about the world's largest economy. Gold has risen for the second consecutive week, and the market is increasingly convinced that the Federal Reserve has completed its interest rate hike.
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Nvidia (NVDA) contributed to the pressure on the Nasdaq 100 index as it slid a further 1.93%. Reuters reported that the chip-maker is delaying the launch of a new artificial intelligence chip for Chinese customers.
In a bold and strategic move that has caught the attention of financial enthusiasts globally, a millionaire from Singapore is actively pursuing the acquisition of Vonway Global, an emerging star in the world of trading brokerage. This unexpected development not only highlights the allure of the financial sector but also signals the millionaire's keen eye for identifying and investing in potential rising stars.
In late trading on Friday (November 24) in Asia, due to the impact of the US Thanksgiving holiday, the recent market trading was flat. The US dollar index saw a slight consolidation yesterday, receiving support from below and rising, ultimately closing near the intraday high.
The US dollar weakened, while gold slightly rose during Thanksgiving OPEC+postpones meeting, oil prices continue to decline
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