The demand for safe haven has rebounded, and the US dollar rose slightly last Friday Expectations of Fed interest rate cuts cool, gold prices hit biggest weekly drop in three years

18 Nov, 2024

Last Friday, the US dollar index fluctuated and fell during the Asian and European trading periods.

Last Friday, the US dollar index fluctuated and fell during the Asian and European trading periods. However, due to the unexpected retail sales data in October in the United States, the decline of the US dollar index narrowed and ultimately closed down 0.18% at 106.67. The benchmark 10-year US Treasury yield closed at 4.4440%; The two-year US Treasury yield, which is more sensitive to monetary policy, closed at 4.3310%. Gold prices fell slightly last Friday, marking the largest weekly decline in over three years, as expectations of a Fed rate cut cooled and boosted the US dollar, weakening investors' interest in gold. Spot gold fell 0.1% to $2565.49 per ounce. Last week, gold prices fell more than 4% and hit their lowest point since September 12th last Thursday. US futures closed 0.1% lower at $2570.10. With the commitment of President elect Trump of the United States to resolve the conflict between the Middle East and Russia-Ukraine conflict, international oil prices have declined. WTI crude oil ultimately closed down 2.43% at $66.90 per barrel; Brent crude oil closed down 1.95% at $71.00 per barrel.

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