The US dollar rebounded after short-term oversold, but the overall trend remains bearish

Gold consolidation at high levels, oil prices plummeted by over 2% after being hindered from rising

On Thursday (November 30th), the US stock market rebounded at the end of the day, with the three major stock indexes achieving a complete victory in November, partly due to market speculation that the Federal Reserve will end its aggressive interest rate hikes.

After soaring $3 trillion this month, the S&P 500 index is currently only 5% below its historical high. According to data compiled by Bloomberg, the benchmark US stock market rose by over 8% in November, marking the largest monthly increase for the index since July 2022. Treasury bond lost momentum after its historic rise. The US dollar closed higher, recording its worst month in a year.

The year-on-year growth rate of the core PCE price index in the United States slowed to 3.5% in October, the lowest level since April 2021, in line with market expectations, with a previous value of 3.7%. Personal income increased by 4.5% year-on-year, the lowest level since December 2022; Expenditure increased by 5.3% year-on-year, the lowest since February 2021.