The rise of the US dollar is hindered

Gold is weak and difficult to change

Despite Federal Reserve Chairman Jerome Powell warning that monetary policy may need to be tightened to curb inflation, Wall Street is still rising on suspicion that interest rates will rise. Last Friday, the US dollar index remained basically stable, with mixed gains and losses in major non US currencies; The US stock market resumed its upward trend after ending its continuous upward trend last Thursday; Spot gold fell below the $1,940 level, barely holding onto support near the 200-day moving average of $1,935.

Powell stated on Thursday (November 9th) that the struggle to restore price stability "still has a long way to go", and if inflation remains above target, the Federal Reserve may raise interest rates again. However, last week's unemployment report showed a weak labor market and speculation that the Consumer Price Index (CPI) will show a slowdown in inflation next week, prompting bulls to take action.

Michael James, managing director of stock trading at Wedbush Securities, said: "Despite Powell's comments, most of the content was considered too hawkish and ignored. People don't really believe that the Federal Reserve will raise interest rates in the future.