Invesco DB USD Index Bullish Fund ETF (ARCA: UUP)

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PowerShares DB USD Index Bullish

The fund invests in futures contracts in an attempt to track its index. The index is calculated to reflect the changes in market value over time, whether positive or negative, of long positions in DX Contracts.

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L&#39;indice PMI dei servizi USA aumenta a luglio, superando le aspettative e rassicurando i mercati globali su una recessione.

Servizi USA: l&#39;indice PMI aumenta a luglio rassicurando i mercati

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I dati sull&#39;occupazione USA deludono e provocano il crollo dei mercati globali: segnali di debolezza economica e rischi geopolitici.

Dati deludenti sull&#39;occupazione USA e i mercati crollano

Invesco DB USD Index Bullish Fund ETF

On Wednesday, December 4th, U.S. markets closed higher, boosted by strong tech earnings from Salesforce and optimistic comments from Fed Chair Jerome Powell. Powell's remarks on the economy and inflation, along with expectations of a rate cut, helped lift market sentiment.
According to economic data, U.S. private businesses added 146K jobs in November, which is below estimates. Factory orders rose 0.2% to $586.7B, while the ISM services PMI fell to 52.1, missing expectations.
Most S&amp;P 500 sectors declined, with energy, materials, and financials seeing the biggest losses, while consumer discretionary and technology stocks ended higher.
The Dow Jones Industrial Average was up 0.69% and closed at 45,014.04, the S&amp;P 500 gained 0.61% to 6,086.49, while the Nasdaq Composite soared 1.30% to finish at 19,735.12.
Asia Markets Today
<ul>
<li>On Thursday, Japan's Nikkei 225 gained 0.38% and ended the session at 39,382.50, led by gains in the Shipbuilding, Retail and Warehousing sectors.</li>
<li>Australia's S&amp;P/ASX 200 rose 0.15% and ended the day at 8,474.90, led by gains in the Gold, IT and Consumer Discretionary sectors.</li>
<li>India's Nifty 50 rose 0.94% to 24,696.45, and the Nifty 500 gained 0.75%, closing at 23,273.50. Gains in the Technology, Banking, and Consumer Durables sectors led the index.</li>
<li>China's Shanghai Composite gained 0.13% to close at 3,368.86, while the Shenzhen CSI 300 fell 0.23%, finishing the day at 3,921.59.</li>
<li>Hong Kong's Hang Seng was down 0.92% and closed the session at 19,560.44.</li>
</ul>
Eurozone at 05:15 AM ET
<ul>
<li>The European STOXX 50 index was up 0.65%.</li>
<li>Germany's DAX rose 0.64%.</li>
<li>France's CAC gained 0.44%.</li>
<li>U.K.'s FTSE 100 index traded higher by 0.09%.</li>
</ul>
Commodities at 05:15 AM ET
<ul>
<li>Crude Oil WTI was trading higher by 0.34% at $68.78/bbl, and Brent was up 0.29% at $72.54/bbl.</li>
<li>Oil prices edged up ahead of an OPEC+ meeting. Investors await decisions on extending supply cuts, while geopolitical tensions in the Middle East add uncertainty.</li>
<li>Natural Gas gained 1.91% to $3.102.</li>
<li>Gold was trading lower by 0.18% at $2,671.49, Silver was down 0.01% to $31.913, and Copper rose 0.23% to $4.2110.</li>
</ul>
U.S. Futures at 05:15 AM ET
Dow futures were up 0.02%, S&amp;P 500 futures slid 0.02% and Nasdaq 100 futures fell 0.10%.
Forex at 05:15 AM ET
<ul>
<li>The U.S. Dollar Index slipped 0.14% to 106.17, USD/JPY was down 0.21% at 150.28, and USD/AUD fell 0.14% to 1.5529.</li>
<li>Bitcoin <a href="https://www.benzinga.com/24/12/42331261/bitcoin-hits-historic-100000-milestone-michael-saylor-gets-ready-for-party" target="_blank" rel="noreferrer noopener">surged past $100,000</a> on Thursday, driven by expectations of a friendly U.S. regulatory shift, particularly with Trump's SEC nomination. Meanwhile, world stocks hit record highs, buoyed by positive remarks from Fed Chief Powell.</li>
</ul>
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Asia And Europe Markets Gains; Dollar Slips While Bitcoin Hits $100K - Global Markets Today While US Slept

The U.S. services sector experienced an unexpected slowdown in its growth momentum last month as respondents expressed caution regarding the economic impact of recent <a href="https://www.benzinga.com/news/econ-s">elections and impending tariffs.</a>
The Services Purchasing Managers Index released Wednesday fell to 52.1% in November, down from a two-year peak of 56% in October, missing expectations of a slower deceleration to 55.5%, according to data from the Institute for Supply Management. 
&#8220;The decrease in the Services PMI&nbsp;in November was driven by decreases in each of the four directly impacting subindexes – Business Activity, New Orders, Employment and Supplier Deliveries,&#8221; stated Steve Miller, chair of the ISM Services Business Survey Committee.
<h3 class="wp-block-heading">November ISM Services PMI: Key Highlights</h3>
<ul>
<li>The broader ISM Services PMI index recorded its fifth straight month of expansionary conditions in November, albeit at a slower speed compared to October. The survey results reinforce the view that the services sector &#8220;has returned to sustained growth,&#8221; Miller said. </li>
<li>The subindex for Business Activity eased from 57.2% in October to 53.7% in November.</li>
<li>The subindex for New Orders eased from 57.4% to 53.7%.</li>
<li>The subindex for Prices inched up from to 58.1% to 58.2%. </li>
<li>The subindex for Employment fell from 53% to 51.5%.</li>
</ul>
 &#8220;Generally, respondents' comments were neutral to positive, and both positive and negative impacts were attributed to seasonality,&#8221; Miller said. 
&#8220;Election ramifications and tariffs were mentioned often, with cautionary outlooks related to the potential impact on respondents' specific industries,&#8221; he added. 
<h3 class="wp-block-heading">Market Reactions</h3>
The U.S. dollar index (DXY) — as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) — fell in the aftermath of the ISM report and erased session gains.
Treasury yields also reversed their trend and flattened across the curve, with the 10-year yield returning to 4.23%, down from 4.27% hit earlier in the day. 
Stocks maintained modest early morning gains, with the S&amp;P 500 — tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) — up by 0.2%.
Blue chips, as monitored through the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>), also inched up by 0.2%. The tech-heavy Nasdaq 100, tracked by the Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), rose 0.6%.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/econ-s/24/12/42316647/interest-rate-cut-in-december-st-louis-feds-musalem-urges-patient-approach-in-last-mile-to-2">Interest Rate Cut In December? St. Louis Fed&#8217;s Musalem Urges &#8216;Patient Approach&#8217; In &#8216;Last Mile&#8217; To 2%</a></li>
</ul>
Photo via Shutterstock.

SPDR Dow Jones Industrial Average ETF Trust

US Services Sector Growth Cools More Than Expected In November As Businesses Show 'Cautionary Outlooks' On Tariffs

An interest rate cut at the upcoming Federal Reserve&#8217;s Dec. 18 meeting remains far from being a done deal, as St. Louis Fed President Alberto Musalem's latest remarks suggest policymakers may face a heated debate <a href="https://www.benzinga.com/news/econ-s">in the weeks ahead. </a>
Speaking at an economic symposium hosted by Bloomberg in New York, Musalem highlighted both progress and risks in the Fed's fight against inflation, indicating the need to approach interest rate cuts with caution.
Musalem reiterated his baseline expectation that inflation will gradually converge to the Fed's 2% target, stating that &#8220;additional easing of moderately restrictive policy toward neutral will be appropriate over time.&#8221;
See Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42314234/private-employers-add-fewer-than-predicted-jobs-in-november-manufacturing-was-the-weakest-weve-seen-since-spring">Private Employers Add Fewer November Jobs Than Expected: &#8216;Manufacturing Was The Weakest We&#8217;ve Seen Since Spring&#8217;</a>
Yet, he tempered this view with a strong emphasis on caution, signaling the need to &#8220;maintain policy optionality.&#8221; 
According to Musalem, &#8220;the time may be approaching to consider slowing the pace of interest rate reductions, or pausing,&#8221; to allow the central bank to better assess the evolving economic outlook.
<h3 class="wp-block-heading">Economic Strength Clashes With Inflation Risks</h3>
Recent data presents a mixed picture for the Fed. 
Musalem indicated that, since September, economic activity has exceeded expectations. Yet, inflation remains &#8220;higher than desired,&#8221; and the labor market is still close to full employment.
&#8220;I expect the labor market will remain consistent with full employment while the unemployment rate rises modestly toward estimates of its natural rate,&#8221; he added.
However, he cautioned that &#8220;easing policy too much too soon poses a greater risk than easing too little, or too slowly.&#8221; 
He highlighted that premature or excessive rate cuts could add pressure to higher long-term yields, which could, in turn, slow economic activity and pressure employment levels.
&#8220;A rapid easing of policy could be detrimental to both sides of the FOMC's dual mandate,&#8221; Musalem explained, referencing the Fed's twin goals of price stability and maximum employment.
<h3 class="wp-block-heading">Productivity As A Key Factor</h3>
Musalem identified productivity growth as a crucial factor in sustaining disinflation while allowing the economy to continue expanding. 
Yet, uncertainties cloud the outlook. &#8220;If productivity growth slows, inflation convergence could be challenged,&#8221; he said, adding that sustaining the current economic expansion will require inflation to return to 2% sustainably.
&#8220;I favor a patient approach,&#8221; Musalem said. Core PCE inflation — currently above target — remains a significant concern, even as the economy grows above its long-term potential and the labor market shows resilience.
&#8220;Going the last mile to return inflation to 2% will help keep inflation expectations anchored and provide the price stability underpinning needed to maintain maximum employment and a sustained economic expansion,&#8221; he added. 
<h3 class="wp-block-heading">Market Reaction</h3>
Musalem's remarks impacted financial markets, with traders adjusting their expectations for the December meeting.
The implied probability of a 25-basis-point rate cut fell to 68%, down from 72% the previous day, according to Fed funds futures tracked by CME FedWatch tool. The remaining 32% now favor the scenario of rates remaining unchanged.
The U.S. dollar strengthened in response, with the dollar index (DXY) — tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) — rising 0.3%. The greenback gained more than 1% against the Japanese yen.
Meanwhile, Treasury yields climbed, with the 10-year yield rising by 5 basis points to 4.27%, reflecting the market's reassessment of future rate cuts.
Interestingly, the stronger dollar and higher Treasury yields did not dampen equity market sentiment. Wall Street remained on track for gains in early morning trading. 
Now Read:
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42299957/feds-kugler-sees-inflation-progress-but-warns-policy-is-not-on-a-preset-course">Fed&#8217;s Kugler Sees Inflation Progress But Warns: &#8216;Policy Is Not On A Preset Course&#8217;</a></li>
</ul>
Image: Pixabay

Interest Rate Cut In December? St. Louis Fed's Musalem Urges 'Patient Approach' In 'Last Mile' To 2%

The pace of monthly employment growth among U.S. private businesses decelerated in November and <a href="https://www.benzinga.com/news/econ-s">slightly missed economist expectations. </a>
Private employers added 146,000 new payrolls in November, down from the downwardly revised 184,000 in October and slightly below the expected 150,000, as reported by&nbsp;Automatic Data Processing Inc.&nbsp;on Wednesday. 
"Strong hiring at large employers led this month&#8217;s growth, yet industry performance was mixed" according to the November&#8217;s ADP National Employment Report.
"Manufacturing was the weakest we&#8217;ve seen since spring. Financial services and leisure and hospitality were also soft."&nbsp;Nela Richardson, chief economist at ADP, added.
The ADP National Employment Report sets the stage for the highly anticipated non-farm payrolls data from the Bureau of Labor Statistics on Friday, where economists forecast a significant employment jump from October&#8217;s 12,000 to 200,000.
<h2 class="wp-block-heading">ADP Employment Report For November: Key Highlights</h2>
<ul>
<li>In November, goods-producing industries saw an increase of only 6,000 jobs.</li>
<li>Manufacturing lost 26,000 payrolls, while construction added 30,000 jobs.</li>
<li>Service-providing industries experienced a more robust employment growth, adding 140,000 jobs. </li>
<li>Education and health services led with 50,000 new payrolls; trade, transportation, and utilities added 28,000. </li>
<li>Employment in leisure and hospitality grew by 15,000, while information and financial services activities witnessed weak growth, up by 4,000 and 5,000, respectively. </li>
<li>Salary growth for job stayers rose to 4.8% year-over-year, marking the first increase in 25 months. For job changers, pay gains rose to 7.2%</li>
</ul>
<h3 class="wp-block-heading">Market Reactions</h3>
The U.S. dollar gained ground on Wednesday, with the U.S. dollar index – as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) – up 0.3% on the day.
Yields on longer-dated Treasuries surged, with the 10-year yield rising by 5 basis points to 4.27%. 
Equity futures were up during the premarket trading in New York. Contracts on the S&amp;P 500 rose 0.3%, while those on the Nasdaq 100 and the Dow Jones were up 0.7% and 0.4%, respectively. 
On Tuesday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) closed at $604.16, setting a record-high closing price.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42310998/us-stocks-likely-to-open-higher-as-investors-gear-up-for-a-historically-strong-month-for-markets-wells-fargo-strategists-expect-trump-administrations-policies-set-a-backdrop-for-where-equities-continue-to-rally-in-2025">US Stocks Likely To Open Higher As Investors Gear Up For A Historically Strong Month: Wells Fargo Strategists See Trump Policies Setting A Backdrop Where &#8216;Equities Continue To Rally&#8217;</a></li>
</ul>
Photo: Shutterstock

Private Employers Add Fewer November Jobs Than Expected: 'Manufacturing Was The Weakest We've Seen Since Spring'

On Tuesday, December 3rd, U.S. markets closed mixed, with the S&amp;P 500 and Nasdaq reaching record highs, fueled by gains in the tech, communication services, and consumer discretionary sectors. The Dow finished slightly lower. Investors are awaiting key data, including the monthly employment report and ISM services index.
Federal Reserve officials expressed confidence that inflation is on track to reach the 2% target and highlighted the strength of the job market, though they stopped short of indicating support for another rate cut.
In economic data, job openings increased by 372,000 to 7.744 million in October, up from a revised 7.372 million in September, surpassing market expectations of 7.48 million.
S&amp;P 500 sectors ended lower, with utilities, industrials, and financials suffering the biggest losses, while communication services and information technology stocks closed higher.
The Dow Jones Industrial Average was down 0.17% and closed at 44,705.53, the S&amp;P 500 gained 0.05% to 6,049.88, and the Nasdaq Composite rose 0.40% to finish at 19,480.91.
Asia Markets Today
<ul>
<li>On Wednesday, Japan&#8217;s Nikkei 225 gained 0.06% and ended the session at 39,232.00, led by gains in the Banking, Insurance and Transportation Equipment sectors.</li>
<li>Australia&#8217;s S&amp;P/ASX 200 fell 0.38% and ended the day at 8,462.60, led by losses in the A-REITs, Financials, and Utilities sectors.</li>
<li>India&#8217;s Nifty 50 rose 0.02% to 24,461.60, and the Nifty 500 gained 0.31%, closing at 23,093.30. Gains in the Real Estate, Banking, and Consumer Durables sectors led the gains.</li>
<li>China&#8217;s Shanghai Composite declined 0.42% to close at 3,364.65, and the Shenzhen CSI 300 fell 0.54%, finishing the day at 3,930.56.</li>
<li>Hong Kong&#8217;s Hang Seng was down 0.02% and closed the session at 19,742.46.</li>
</ul>
Eurozone at 05:30 AM ET
<ul>
<li>The European STOXX 50 index was up 0.43%.</li>
<li>Germany&#8217;s DAX rose 0.77%.</li>
<li>France&#8217;s CAC gained 0.17%.</li>
<li>U.K.&#8217;s FTSE 100 index traded lower by 0.41%.</li>
</ul>
Commodities at 05:30 AM ET
<ul>
<li>Crude Oil WTI was trading higher by 0.71% at $70.44/bbl, and Brent was up 0.72% at $74.20/bbl.</li>
<li>Oil prices saw a slight increase as traders expect OPEC+ to extend supply cuts amid ongoing geopolitical tensions. Geopolitical unrest in the Middle East and South Korea supported the prices.</li>
<li>Natural Gas slipped 0.66% to $3.022.</li>
<li>Gold was trading lower by 0.17% at $2,663.69, Silver was down 0.54% to $31.323, and Copper fell 0.27% to $4.1905.</li>
</ul>
US Futures at 05:30 AM ET
Dow futures were up 0.43%, S&amp;P 500 futures gained 0.21%, and Nasdaq 100 futures rose 0.52%.
Forex at 05:30 AM ET
The U.S. dollar index gained 0.13% to 106.50, the USD/JPY rose 0.79% to 150.76, and the USD/AUD rose 1.14% to 1.5594.
Photo by Pavel Bobrovskiy via Shutterstock

Oil Hits $70 In Supply Cut Hope, Dollar Gains, Asia And Europe Markets Mixed - Global Markets Today While US Slept

Federal Reserve Governor Adriana Kugler said on Tuesday that inflation &#8220;appears to be on a sustainable path&#8221; but indicated that challenges still persist, adding that monetary &#8220;policy is not <a href="https://www.benzinga.com/topic/interest-rates">on a preset course.&#8221;</a>
Speaking at the Detroit Economic Club, Kugler described recent inflation readings as encouraging. Personal consumption expenditures rose 2.3% over the past year, and core PCE—the Fed&#8217;s favorite inflation gauge—increased 2.8%.
&#8220;I am encouraged that inflation expectations appear to remain well anchored,&#8221; she said. 
&#8220;I viewed the elevated inflation readings as partly stemming from seasonal and one-off factors not fully accounted for in the data,&#8221; she added.
Kugler highlighted the Fed's recent interest rate cuts in September and November as steps toward a more neutral monetary policy stance. 
<h3 class="wp-block-heading">Labor Market Shows Signs Of Cooling, Yet Hurricanes And Strikes Disrupt Statistics</h3>
Kugler said monthly payroll gains have slowed, from an average of 260,000 in the first quarter to below 200,000 by midyear. 
The unemployment rate has risen from 3.7% in January to 4.1% in October, which she described as &#8220;near the level I judge as roughly consistent with our maximum-employment mandate.&#8221;
Disruptions in October's employment report, including hurricanes and strikes, accounted for 100,000 to 120,000 missing jobs, with a rebound expected in the months ahead.
&#8220;Will see some bounce back,&#8221; she said in response to a question about the upcoming November jobs report, set to be released this Friday
<h3 class="wp-block-heading">Economic Growth, Low Inflation Fueled By Productivity Gains</h3>
Kugler said 2024 economic growth has outpaced expectations, with GDP growth nearly doubling earlier forecasts. She attributed this to two key supply-side factors: a surge in immigration earlier in the year and higher productivity growth.
Revisions in September revealed that productivity growth since 2020 has averaged 1.9% annually, compared to 1.4% in the five years prior. 
&#8220;Emerging technologies, most notably artificial intelligence, may also be starting to contribute to enhanced productivity,&#8221; she said. 
Kugler highlighted this significant development, saying it boosts the economy's capacity for growth without overheating.
&#8220;My speculation was that higher productivity was a possible explanation for the unusual combination of strong economic output, a cooling labor market, and declining inflation,&#8221; she added. 
<h3 class="wp-block-heading">Outlook: Risks And Flexibility</h3>
Kugler said she will continue to assess incoming data to determine the appropriate policy course, emphasizing that the Fed's decisions are not on a preset path. 
She said the Fed remains vigilant for potential risks, including slowing immigration, trade policy changes, and negative supply shocks that could impact economic growth and inflation.
<h3 class="wp-block-heading">Market Reactions</h3>
Interest rate futures saw little movement after Kugler&#8217;s remarks, with market-implied odds showing a 74% probability of a 25-basis-point rate cut at the Fed&#8217;s Dec. 18 meeting, as per the CME FedWatch tool.
The U.S. Dollar Index—as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>)—slightly weakened, extending session losses to negative 0.3%.
Large-cap U.S. stocks remained broadly flat for the day, with the S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) hovering at $603.30. 
Read Next:
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<li><a href="https://www.benzinga.com/24/12/42291861/trumps-tariff-plan-risks-economic-pain-for-north-america-goldman-sachs-warns">Trump&#8217;s Tariff Plan Risks Economic Pain For North America, Goldman Sachs Warns</a></li>
</ul>
Image created using a photo from Wikimedia and background generated via Midjourney.

Fed's Kugler Sees Inflation Progress But Warns: 'Policy Is Not On A Preset Course'

On Monday, December 2nd, U.S. markets closed mixed, driven by tech stocks, while the Dow fell. Investors await key economic data, including Friday&#8217;s jobs report. The Fed may cut interest rates, but inflation concerns linger. Super Micro Computer surged 28.7% after announcing plans to find a new finance chief. Despite strong sectors, more stocks declined than advanced, with trading volume lower than average.
Economic data shows that U.S. construction spending rose 0.4% in October, reaching an annual rate of $2,174 billion. The ISM manufacturing PMI increased to 48.4 in November, surpassing the expected 47.5 and up from 46.5 in October.
Most S&amp;P 500 sectors closed lower, with utilities, real estate, and financial stocks declining, while communication services and consumer discretionary stocks saw gains.
The Dow Jones Industrial Average was down 0.29% and closed at 44,782.00, the S&amp;P 500 gained 0.24% to 6,047.15, and the Nasdaq Composite rose 0.97% to finish at 19,403.95.
Asia Markets Today
<ul>
<li>On Tuesday, Japan&#8217;s Nikkei 225 gained 1.84% and ended the session at 39,207.50,   led by gains in the Gas &amp; Water, Banking and Retail sectors.</li>
<li>Australia&#8217;s S&amp;P/ASX 200 rose 0.56% and ended the day at 8,495.20, led by gains in the Healthcare, Consumer Discretionary and Industrials sectors.</li>
<li>India&#8217;s Nifty 50 rose 0.72% to 24,451.65, and Nifty 500 gained 0.78%, closing at 23,013.80.</li>
<li>China&#8217;s Shanghai Composite gained 0.44% to close at 3,378.81, and the Shenzhen CSI 300 rose 0.11%, finishing the day at 3,951.89.</li>
<li>Hong Kong&#8217;s Hang Seng was up 1.00% and closed the session at 19,746.32.</li>
</ul>
Eurozone at 05:30 AM ET
<ul>
<li>The European STOXX 50 index was up 0.75%.</li>
<li>Germany&#8217;s DAX rose 0.56%.</li>
<li>France&#8217;s CAC gained 0.61%.</li>
<li>FTSE 100 index traded higher by 0.68%.</li>
</ul>
Commodities at 05:30 AM ET
<ul>
<li>Crude Oil WTI was trading higher by 1.03% at $68.78/bbl, and Brent was up 0.92% at $72.49/bbl.</li>
<li>Oil prices rose nearly one percent as traders awaited OPEC+ decisions on output cuts. OPEC+ is likely to extend cuts amid weak global demand and geopolitical tensions.</li>
<li>Natural Gas slipped 1.28% to $3.172.</li>
<li>Gold was trading higher by 0.35% at $2,667.64, Silver was up 1.87% to $31.442, and Copper rose 1.36% to $4.1870.</li>
</ul>
U.S. Futures at 05:30 AM ET
Dow futures were down 0.01%, S&amp;P 500 futures gained 0.05% and Nasdaq 100 futures slid 0.01%.
Forex at 05:30 AM ET
<ul>
<li>The U.S. dollar index fell 0.19% to 106.24, the USD/JPY was up 0.15% to 149.81, and the USD/AUD declined 0.26% to 1.5401.</li>
<li>The U.S. dollar steadied after gaining strength on Monday, driven by political tensions in France and strong U.S. economic data, but came under pressure following remarks from Federal Reserve official hinting at a potential rate cut in December.</li>
</ul>
Photo by Pavel Bobrovskiy via Shutterstock

Asia And Europe Markets Gain; Oil Rises Ahead of OPEC+ Meeting - Global Markets Today While US Slept

The U.S. manufacturing sector showed signs of improvement in November, yet it failed to avoid another <a href="https://www.benzinga.com/news/econ-s">month of contractionary conditions.</a>
The Manufacturing Purchasing Managers&#8217; Index (PMI) rose from October&#8217;s 46.5% to 48.4% in November, exceeding analyst expectations of 47.5%, as tracked by TradingEconomics.
<h3 class="wp-block-heading">November&#8217;s ISM Manufacturing PMI: Key Highlights</h3>
Despite the improvement, the PMI data released Monday by the Institute for Supply Management (ISM) remains below the 50% threshold, signaling contraction in the manufacturing sector for the eighth consecutive month.
The outcome marks the slowest contraction in the manufacturing sector since June.
The manufacturing sector has contracted in 24 of the last 25 months. In contrast, the broader U.S. economy, supported by services, has continued to expand for the 55th month in a row.
Key components of the PMI reflected varying degrees of improvement:
<ul>
<li>New Orders: Returned to expansion territory for the first time in eight months, rising from 47.1 in October to 50.4.</li>
<li>Production: Improved slightly from 46.2 to 46.8 but remained in contraction.</li>
<li>Employment: Contracted less sharply, with the index climbing from 44.4 to 48.1. </li>
<li>Inventories: Rose from 42.6 to 48.1.</li>
<li>Prices: Declined, with the Prices Index dropping from 54.8 to 50.3, indicating reduced price pressures.</li>
<li>Supplier Deliveries: Improved, as the index fell from 52 to 48.7, suggesting faster delivery times.</li>
</ul>
"U.S. manufacturing activity contracted again in November, but at a slower rate compared to last month. Demand continues to be weak but may be moderating," Timothy Fiore, chair of the ISM Manufacturing Business Survey Committee, said.
Fiore highlighted positive developments in demand, noting the rebound in the New Orders Index and a moderate rise in the New Export Orders Index, which increased by 3.2 percentage points but remained in contraction. Challenges persist, as the Backlog of Orders Index dipped further into &#8220;strong contraction territory.&#8221;
"Production execution eased in November, consistent with demand sluggishness and weak backlogs," Fiore added. On the supply side, he observed improvements in lead times but cautioned about the reappearance of some product shortages.
<h3 class="wp-block-heading">Market Reactions</h3>
The U.S. dollar index (DXY), tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), surged 1% on Monday. The dollar&#8217;s rally was supported not only by the upbeat PMI report but also by growing political uncertainty in Europe, where France&#8217;s government faces a potential no-confidence vote due to budgetary pressures.
U.S. equities were mixed in early trading. The S&amp;P 500 – tracked by SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)  edged up 0.1%, while the Dow Jones Industrial Average slipped 0.4%. Tech stocks outperformed, driving the Nasdaq 100 – tracked by Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) – up 1%.
In the bond market, U.S. Treasury yields rose modestly. The 10-year yield climbed by 5 basis points to 4.23%. 
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Photo via Shutterstock.

US Manufacturing Output Tops Forecasts In November: Is The Sector's Crisis Over?

The U.S. dollar has entered its most historically bearish month of the year, with December often marking a period of seasonal <a href="https://www.benzinga.com/etfs/currency-etfs">weakness for the greenback</a>.
Over the past half of a century, the U.S. Dollar Index — as tracked by the the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) — has declined by nearly 1% on average in December.
With a 7-year streak of losses in this month and new political and economic catalysts on the horizon, could this December finally be different?
See Also: <a href="https://www.benzinga.com/government/regulations/24/12/42265847/biden-targets-china-with-new-chip-restrictions-nvidia-slides">Biden Targets China With New Chip Restrictions, Nvidia Slides</a>
<h2 class="wp-block-heading">December: A Month The Dollar Dreads</h2>
Data doesn&#8217;t lie. 
Dating back to 1984 — a 40-year period — the U.S. Dollar Index (DXY), has averaged a 0.91% decline in December, with gains occurring just 35% of the time, according to seasonality data from TradingView.
December hasn't been kind to the greenback since 2017 either—the dollar has closed in the red every year for the last seven Decembers.
Some of the worst December declines for the dollar include 2008, with a drop of 6%, 1991, with a drop of 5.3% and 2000 with a drop of 5.1%. 
Occasionally, the dollar does buck the trend, as seen in 2009 (+4%) and 2011 (+2.3%), but such outliers remain rare.
Dimitri Speck, founder and head analyst at Seasonax, said, "Seasonality also exists in the Forex market. The weakness in the US dollar at the end of the year is driven by US tax legislation."
Speck highlights how U.S. companies reduce tax liabilities by minimizing reported cash on balance sheets at year-end, shifting funds to overseas accounts. This fuels demand for foreign currencies, pressuring the dollar lower. 
&#8220;Many US-based companies save on their tax liabilities by reporting small amounts of cash at the balance sheet date at the end of the year. It can be worthwhile to shift money to the accounts of overseas subsidiaries. The resultant additional demand for foreign currencies affects the exchange rate,&#8221; he said.
Yet, &#8220;after the turn of the year, the tide immediately turns,&#8221; as companies transfer funds back to the U.S., leading to a January recovery for the greenback. 
<h3 class="wp-block-heading">A Resilient Dollar In 2024</h3>
In 2024, the dollar has defied gravity.
The DXY index is up 5% year-to-date, staging a remarkable comeback after its 2.1% decline in 2023. 
Notably, the recent rally has been turbocharged by an eight-week winning streak between October and November, marking the greenback's third-strongest two-month gain since 2016.
Third-quarter GDP grew at an annualized 2.8% and the labor market remaining robust.
These factors give the Federal Reserve room to implement only gradual rate cuts, rather than a more aggressive easing path, a sentiment echoed recently by Fed Chair Jerome Powell.
<h3 class="wp-block-heading">A Tug-of-War Between Fundamentals and Seasonality</h3>
Despite the dollar's momentum, December's seasonal headwinds loom large. 
According to Seasonax, the greenback tends to lose ground especially quickly in the second half of the month, before regaining strength in January.
Will the dollar's 2024 strength be enough to break the December curse? Or will year-end tax-driven flows overpower bullish momentum?
For now, history—and some clever accounting tricks by U.S. corporations—suggest December could once again deal a blow to the greenback.
Dollar dominance is also vulnerable if BRICS nations decide to trade in non-dollar currencies. President-elect Donald Trump has threatened the alliance with <a href="https://www.benzinga.com/news/global/24/12/42257504/trump-threatens-brics-nations-with-100-tariffs">100% tariffs if it de-dollarizes</a>.
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</ul>
Image: Shutterstock

Dollar Enters Its Most Bearish Month Of The Year: Could December 2024 Be Any Different?

On Friday, November 29, U.S. markets closed higher, with the S&amp;P 500 and Dow Jones reaching record highs during a shortened Black Friday session. The rally was fueled by strong performances in the technology and retail sectors, with gains in major tech stocks and a rebound in chip stocks driving momentum. Retail shares climbed as the holiday shopping season kicked off, supported by robust consumer spending projections.
Investors weighed optimism over strong sales and pro-business policies against concerns about inflation and the Federal Reserve&#8217;s anticipated rate cut in December.
S&amp;P 500 sectors closed higher, led by technology, materials, and consumer discretionary stocks, while real estate and utilities lagged, ending the session lower.
The Dow Jones Industrial Average was up 0.42% and closed at 44,910.65, the S&amp;P 500 gained 0.56% to 6,032.40, and the Nasdaq Composite rose 0.83% to finish at 19,218.17.
Asia Markets Today
<ul>
<li>On Monday, Japan&#8217;s Nikkei 225 gained 0.92% and ended the session at 38,500.50, led by gains in the Gas &amp; Water, Banking and Retail sectors.</li>
<li>Australia&#8217;s S&amp;P/ASX 200 rose 0.14% and ended the day at 8,447.90, led by gains in the IT, Consumer Discretionary and Energy sectors.</li>
<li>India&#8217;s Nifty 50 rose 0.59% to 24,272.75, and the Nifty 500 gained 0.66%, closing at 22,835.65. The gains were led by gains in the Real Estate, Consumer Durables, and Metals sectors.</li>
<li>China&#8217;s Shanghai Composite gained 1.13% to close at 3,363.98, and the Shenzhen CSI 300 rose 0.79%, finishing the day at 3,947.63.</li>
<li>Hong Kong&#8217;s Hang Seng was up 0.65% and closed the session at 19,550.29.</li>
</ul>
Eurozone at 05:30 AM ET
<ul>
<li>The European STOXX 50 index was up 0.06%.</li>
<li>Germany&#8217;s DAX rose 0.58%.</li>
<li>France&#8217;s CAC declined 0.34%.</li>
<li>FTSE 100 index traded higher by 0.04%.</li>
</ul>
Commodities at 05:30 AM ET
<ul>
<li>Crude Oil WTI was trading higher by 0.90% at $68.63/bbl, and Brent was up 0.90% at $72.49/bbl.</li>
<li>Oil prices rose driven by strong Chinese factory activity and escalating Middle East tensions.</li>
<li>Natural Gas slipped 5.98% to $3.162.</li>
<li>Gold was trading lower by 0.81% at $2,659.16, Silver was down 1.20% to $30.735, and Copper slid 0.42% to $4.1227.</li>
</ul>
U.S. Futures at 05:30 AM ET
<ul>
<li>Dow futures were down 0.13%, S&amp;P 500 futures were down 0.19%, and Nasdaq 100 futures slid 0.19%.</li>
<li>U.S. futures dipped as December begins, with jobs data and Fed comments in focus. Stellantis shares plunged after CEO Carlos Tavares resigned.</li>
</ul>
Forex at 05:30 AM ET
<ul>
<li>The U.S. dollar index rose 0.54% to 106.32, the USD/JPY rose 0.40% to 150.35, and the USD/AUD gained 0.33% to 1.5406.</li>
<li>The U.S. dollar gained strength with the dollar index rising, driven by resilient U.S. economic data, political uncertainty in France, and President-elect Donald Trump&#8217;s tariff threats.</li>
</ul>
Photo by Pavel Bobrovskiy via Shutterstock

Asia And Europe Markets Up, Oil Gains On China Activity, Dollar Strengthens - Global Markets Today While US Slept

The U.S. dollar is poised to end an eight-week winning streak with its worst weekly drop since mid-August, as resilient European currencies and a surging Japanese yen <a href="https://www.benzinga.com/topic/forex">pull the greenback lower. </a>
A currency-weighted gauge of the dollar, tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), has declined more than 1.4% this week, signaling a shift in market sentiment against the greenback.
<h3 class="wp-block-heading">A Softening Dollar Amid Tariff Threats</h3>
Despite looming trade tariff threats from President-elect Donald Trump, the dollar has struggled to maintain its upward momentum. Trump recently reiterated his commitment to imposing <a href="https://www.benzinga.com/24/11/42178994/trump-says-he-will-impose-25-tariffs-on-canada-mexico-on-first-day-of-office-and-extra-tariffs-on-china-until-they-pay-attention">a 25% tariff on goods</a> from Mexico and Canada and an additional 10% on imports from China. Yet these aggressive trade policies failed to buoy the U.S. currency.
This week, the dollar fell 1.3% against both the euro and the British pound, but its steepest declines were against the Japanese yen. 
The yen, tracked by the Invesco CurrencyShares Japanese Yen Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXY#NYSE">FXY</a>), gained significant ground amid speculation that the Bank of Japan (BoJ) could announce an interest rate hike in December.
<h3 class="wp-block-heading">Dollar-Yen Pair Slumps As BoJ Rate Hike Looms</h3>
The dollar-yen pair dropped to the 150 level on Friday morning, marking a 1% decline during the session and extending its weekly loss to 3%. This marks the pair's lowest levels since October 21.
The catalyst for the yen&#8217;s rally came from Thursday&#8217;s release of Tokyo's November Consumer Price Index (CPI), which surpassed expectations. 
The headline inflation rate rose 2.6% year-over-year (YoY), beating forecasts of 2.2% and up sharply from October's 1.8%. Core inflation also climbed to 1.9% YoY, in line with projections but higher than the prior month's 1.8%.
Japan's October retail sales and industrial production data also indicated steady economic growth, reinforcing the narrative of an improving economy.
Masato Koike, senior economist at Sompo Institute Plus, told Reuters that increases in consumer prices have also spilled over to services-related items, which is &#8220;positive news for the BoJ in normalizing policy."
<h3 class="wp-block-heading">Analysts See BoJ Tightening Path</h3>
The stronger-than-expected inflation data has fueled expectations of a December rate hike by the BoJ. 
According to BBVA forex analyst Alejandro Cuadrado, the Tokyo inflation numbers have significantly increased the likelihood of policy action by the BoJ on Dec. 19.
"The market is currently pricing in a 60% probability of a 15-basis-point hike to bring the reference policy rate to 0.4%," Cuadrado said.
Cuadrado also emphasized the importance of the U.S.-Japan yield differential, which could drive further yen gains in the medium term. 
He added, "The BoJ will continue to raise rates, while we also think that the market could now be slightly more hawkish about what the Fed may ultimately do."
<h3 class="wp-block-heading">Why the Dollar-Yen Exchange Rate Matters for Stocks</h3>
The dollar-yen exchange rate has proven to be a critical barometer of global risk sentiment, particularly during periods of heightened market volatility. This dynamic was on full display over the summer, when abrupt yen appreciations in early August triggered sharp sell-offs across global equity markets.
Traders were unnerved by the prospect of an unexpected monetary tightening by the BoJ, fearing it could unravel large speculative positions — the so-called &#8216;carry trade&#8217; — that had bet on a widening interest rate differential between the Fed and the BoJ.
Such a scenario would have seen significant liquidity flow back into the yen, reducing capital availability for riskier assets like stocks.
Between Aug. 2 and Aug. 5, the Nasdaq 100 — tracked by the Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) — had tumbled by a cumulative 8% in three sessions, registering its worst 3-day performance in over two years.
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Analyst Ratings

Dollar Snaps 8-Week Winning Streak, Falls To 1-Month Low Versus Yen As Traders Brace For Bank Of Japan Interest Rate Hike

On Wednesday, November 27th, U.S. markets ended lower, with the Nasdaq suffering the steepest losses as technology stocks led the decline. Concerns over the Federal Reserve&#8217;s cautious stance on interest rate cuts resurfaced after data indicated stubbornly high U.S. inflation.
According to economic data, the PCE price index rose 2.3% annually in October, up from 2.1%, while core PCE inflation edged higher at 2.8%. Personal spending and income exceeded expectations, and Q3 GDP growth held steady at 2.8%.
Asia Markets Today
<ul>
<li>The Dow Jones Industrial Average was down 0.31% and closed at 44,722.06, the S&amp;P 500 declined 0.38% to 5,998.70, and the Nasdaq Composite dropped 0.60% to finish at 19,060.48.</li>
<li>On Friday, Japan&#8217;s Nikkei 225 declined 0.52% and ended the session at 38,148.50, led by losses in the Shipbuilding, Precision Instruments, and Retail sectors.     </li>
<li>Australia&#8217;s S&amp;P/ASX 200 fell 0.10% and ended the day at 8,436.20, led by losses in the A-REITs, Industrials and Telecoms Services sectors.</li>
<li>India&#8217;s Nifty 50 rose 0.87% to 24,122.85, and Nifty 500 gained 0.72% closing at 22,676.60, led by gains in the Oil &amp; Gas, Auto and Technology sectors.</li>
<li>China&#8217;s Shanghai Composite gained 0.93% to close at 3,326.46, and the Shenzhen CSI 300 rose 1.14%, finishing the day at 3,916.58.</li>
<li>Hong Kong&#8217;s Hang Seng was up 0.29% and closed the session at 19,423.61.</li>
</ul>
Eurozone at 06:00 AM ET
<ul>
<li>The European STOXX 50 index was down 0.03%.</li>
<li>Germany&#8217;s DAX rose 0.12%.</li>
<li>France&#8217;s CAC gained 0.04%.</li>
<li>The FTSE 100 index traded lower by 0.09%.</li>
</ul>
Commodities at 06:00 AM ET
<ul>
<li>Crude Oil WTI was trading lower by 0.51% at $68.37/bbl, and Brent was down 0.82% at $72.17/bbl.</li>
<li>Oil prices fell over 3% this week as the Middle East ceasefire eased supply risks, while 2025 forecasts indicate excess supply despite expected OPEC+ cuts.</li>
<li>Natural Gas gained 3.50% to $3.314.</li>
<li>Gold was trading higher by 0.82% at $2,686.59, Silver was up 1.92% to $31.142, and Copper slid 0.05% to $4.1363.</li>
</ul>
U.S. Futures at 06:00 AM ET
Dow futures gained 0.31%, S&amp;P 500 futures were up 0.30% and Nasdaq 100 futures rose 0.40%.
Forex at 06:00 AM ET
The U.S. dollar index fell 0.18% to 105.95, the USD/JPY was down 1,07% to 149.91, and the USD/AUD slid 0.05% to 1.5379.
Photo by Pavel Bobrovskiy via Shutterstock

Asia And Europe Markets Mixed; Oil Falls And Dollar Cools - Global Markets Today While US Slept

As U.S. markets paused for Thanksgiving, European equities staged a rebound on Thursday, snapping a three-day losing streak. Lower-than-expected consumer inflation data from Germany rekindled optimism for more aggressive rate cuts by <a href="https://www.benzinga.com/topic/interest-rates">the European Central Bank (ECB)</a>.
Germany&#8217;s annual inflation rate edged higher, rising from 2.0% in October to 2.2% in November , but came in just below market expectations of 2.3%. On a monthly basis, Germany&#8217;s consumer price index (CPI) fell 0.2%, marking the sharpest decline in over a year. The unexpected contraction in monthly CPI added to speculation that the ECB could accelerate monetary easing to support the region&#8217;s economy.
<h3 class="wp-block-heading">European Equities Post Gains</h3>
The Euro STOXX 50, a key benchmark for the eurozone's 50 largest blue-chip stocks, closed up 0.5%, buoyed by gains in industrials and energy stocks. Among the biggest winners were:
<ul>
<li>Airbus SE (OTCPK: AEDSY): +4.2%</li>
<li>RWE AG (OTCPK: RWEOY): +2.7%</li>
<li>ASML Holding NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>): +2.3%</li>
</ul>
<h3 class="wp-block-heading">Dollar Rebounds, Yen Slips After Wednesday&#8217;s Rally</h3>
Meanwhile, the euro slipped 0.2%, trading at $1.0550 against the U.S. dollar. A currency weighted measure of the greenback – tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) – was also up by 0.2%. 
The yen was the underperformer among major currencies, falling by 0.3% following a 1.3% rally on Wednesday. 
<h3 class="wp-block-heading">Commodities: Gold Shines, Oil Sees Volatility</h3>
Commodities were mixed in Thursday&#8217;s session:
<ul>
<li>Gold futures edged up 0.2%, eyeing their sixth gain in the last seven trading days. </li>
<li>Natural gas futures climbed 2.3%, recovering some ground after an 8.5% drop on Wednesday. Thus far in November, natural gas prices are up by 20%. </li>
<li>Oil prices had a choppy session, initially rising on reports of Israeli forces citing violations of the Israel-Hezbollah ceasefire agreement. However, as tensions eased, oil pared gains to trade flat.</li>
</ul>
<h3 class="wp-block-heading">Crypto Struggles To Maintain Momentum</h3>
Cryptocurrencies saw a pullback after recent gains:
<ul>
<li>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 0.9% to around $95,000, failing to sustain momentum from Wednesday's 4.6% rally.</li>
<li>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) dropped 3%, erasing part of its 10% surge the previous day. The pullback highlighted a weaker appetite for risk-on assets within the crypto space.</li>
</ul>
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42234954/will-apple-or-nvidia-be-the-worlds-most-valuable-company-by-the-end-of-2024-polymarket-traders-have-a-clear-favorite">Will Apple Or NVIDIA Be The World&#8217;s Most Valuable Company By The End Of 2024? Polymarket Traders Have A Clear Favorite</a></li>
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

$ETH

ASML

European Stocks Close Higher, Dollar Gains, Bitcoin Eases To $95,000: What's Driving Markets Thursday?

A widely expected increase in the October Personal Consumption Expenditures (PCE) price index — commonly regarded as the Federal Reserve's preferred inflation gauge — triggered fresh losses for the U.S. dollar, while Treasury yields and U.S. stocks <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42216384/feds-favorite-inflation-gauge-heats-up-as-predicted-personal-incomes-soar-december-interest-rate-cut-in-doubt">also slid in tandem.</a>
By 11:10 a.m. ET in New York, the U.S. Dollar Index (DXY), tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), was down 0.8%, reflecting broad weakness in the greenback. Meanwhile, 10-year Treasury yields fell by five basis points to 4.26%, and the S&amp;P 500, replicated by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), dropped 0.4%.
Tech stocks were hit harder, with the Nasdaq 100 — tracked by the Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) — plunging 1.3%.
<h1 class="wp-block-heading">October PCE Inflation Matches Expectations</h1>
The headline PCE price index rose by 2.3% year-over-year in October, up from 2.1% in September, in line with forecasts. Core PCE inflation, which strips out volatile energy and food prices, also ticked higher, climbing from 2.7% to 2.8% annually, meeting economist predictions.
In a positive twist, personal spending and income data slightly beat expectations. Meanwhile, the second estimate for third-quarter U.S. GDP growth remained unchanged at a solid 2.8% annualized rate.
Joseph Brusuelas, economist at RSM US, highlighted the strength of household finances ahead of the critical holiday shopping season. &#8220;Strong personal spending and a 0.6% increase in personal income underscores just how robust the economy and households remain as we approach Black Friday and year-end 2024,&#8221; Brusuelas said.
Despite inflationary signals, Brusuelas maintains that the Federal Reserve is likely to lower interest rates by 25 basis points during its Dec. 18 meeting. Market-implied probabilities echoed this sentiment, with a 70% chance of a rate cut priced into futures markets.
<h1 class="wp-block-heading">Yen Surges On Bank of Japan Rate-Hike Bets</h1>
Yet, while U.S. economic data took center stage, Wednesday's market action appeared more influenced by carry-trade unwinding and growing speculation around a potential Bank of Japan (BOJ) interest rate hike in December.
The Japanese yen jumped 1.2% against the dollar, extending its winning streak to three consecutive sessions. 
Such a strong daily move by the yen certainly strides with statistics revealing an October U.S. inflation uptick. 
&#8220;Investors are betting on an interest-rate hike from the Bank of Japan next month,&#8221; noted BBVA forex strategist Alejandro Cuadrado in a client note on Tuesday.
The interest rate futures curve now implies a 65% probability of a BOJ rate hike in December, compared to just 30% at the start of November.
The yen's Wednesday outperformance has revived memories of the carry-trade turmoil from early August, when a sudden shift in yen-dollar dynamics sent shockwaves across global markets. 
Since that episode, the yen had depreciated by over 5% against the dollar, weighed down further by the victory of Donald Trump in the 2024 U.S. presidential elections.
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</ul>
Photo: Pixabay

Global

Dollar, Treasury Yields, Stocks Fall In Tandem After October Inflation Uptick

An inflation gauge that&#8217;s closely watched by the Federal Reserve rose as anticipated in October, while personal income and spending data continues to reveal a <a href="https://www.benzinga.com/news/econ-s">resilient U.S. consumer. </a>
Earlier on Wednesday, the second estimate of the third-quarter economic growth was 2.8%, in line with the data initially reported. 
<h3 class="wp-block-heading">Inflation Rises Again In October</h3>
The Personal Consumption Expenditures (PCE) price index rose 2.3% in October on a year-over-year basis, accelerating from September&#8217;s 2.1% reading but matching economist expectations of 2.3%, based on TradingEconomics projections. 
On a monthly basis, the PCE index increased by 0.2%, in line with both the prior reading and forecasts of 0.2%.
When excluding volatile food and energy costs, the core PCE price index — widely regarded as the Fed&#8217;s most reliable inflation measure — climbed to 2.8% year-over-year in October, up from September&#8217;s 2.7% and in line with economist forecasts.
On a monthly basis, core PCE inflation remained steady at 0.3%, mirroring September&#8217;s pace.
Personal income soared by 0.6% in October, higher than the 0.3% figure recorded in the prior month and exceeding market expectations. 
Personal spending, while showing signs of slowing from 0.5% in September to 0.4% in October, also came in above expectations of 0.3%.
<h3 class="wp-block-heading">Inflation Data Keeps December Rate Odds Steady</h3>
The economic data released on Wednesday underscores the resilience of the U.S. economy while signaling that inflationary pressures may require careful monitoring in the months ahead.
Market expectations for a Federal Reserve interest rate cut in December remained steady Wednesday. 
Prior to the release of the GDP and PCE reports, traders assigned a 66% probability to a 25-basis-point rate cut at the Federal Open Market Committee meeting Dec. 18. The latest data did not alter those odds, according to the CME FedWatch tool.
The U.S. dollar index (DXY) — as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) — was 0.6% lower on Wednesday.
Stocks traded mostly flat on Wednesday morning, with the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) edging down 0.1% as of 10:05 a.m. EST in New York. The subdued activity reflects a light trading session ahead of the Thanksgiving holiday.
Read Next:
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<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42198763/fed-minutes-reveal-confidence-in-inflation-reduction-yet-flag-divergent-views-on-interest-rate-path-ahead">Fed Minutes Reveal &#8216;Confidence&#8217; In Inflation Reduction, Yet Flag Divergent Views On Interest Rate Path Ahead</a></li>
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Photo via Shutterstock.

Fed's Favorite Inflation Gauge Heats Up As Predicted, Personal Incomes Soar

On Tuesday, November 26th, U.S. markets ended higher, with tech stocks rebounding as investors weighed Fed minutes signaling policy uncertainty and Trump&#8217;s new tariff threats. Automakers Ford and GM saw declines due to fears of rising supply chain costs and trade tensions.
In economic data, the S&amp;P Case-Shiller index rose 4.6% year over year in September, down from 5.2% in August. Meanwhile, new single-family home sales in the U.S. dropped 17.3% in October to an annualized rate of 610,000.
The majority of S&amp;P 500 sectors rose, led by utilities, communication services, and consumer discretionary, while energy and materials fell.
The Dow Jones Industrial Average was up 0.28% and closed at 44,860.31, the S&amp;P 500 gained 0.57% to 6,021.60, and the Nasdaq Composite rose 0.63% to finish at 19,174.30.
Asia Markets Today
On Wednesday, Japan&#8217;s Nikkei 225 declined 0.78% and ended the session at 38,111.50, led by losses in the Shipbuilding, Paper &amp; Pulp, and Chemical, Petroleum &amp; Plastic sectors.
Australia&#8217;s S&amp;P/ASX 200 gained 0.57% and ended the day at 8,406.70, led by gains in the Gold, Consumer Discretionary, and Telecoms Services sectors.
India&#8217;s Nifty 50 rose 0.35% to 24,278.20, and Nifty 500 gained 0.59%, closing at 22,696.15, led by gains in the Power, Capital Goods, and Public Sector Undertakings sectors.
China&#8217;s Shanghai Composite gained 1.53% to close at 3,309.78, and the Shenzhen CSI 300 rose 1.74%, finishing the day at 3,907.04.
Hong Kong&#8217;s Hang Seng was up 2.32% and closed the session at 19,603.13.
Eurozone at 05:30 AM ET
The European STOXX 50 index was down 0.85%.
Germany&#8217;s DAX fell 0.52%.
France&#8217;s CAC declined 1.23%.
FTSE 100 traded higher by 0.12%.
Commodities at 05:30 AM ET
Crude Oil WTI was trading higher by 0.29% at $68.96/bbl, and Brent was up 0.25% at $72.50/bbl.
Oil prices steadied as markets assessed an Israel-Hezbollah ceasefire and anticipated OPEC+ delaying output hikes.
Natural Gas slid 4.27% to $3.319.
Gold was trading higher by 1.05% at $2,673.40, Silver was up 0.33% to $30.935, and Copper rose 0.98% to $4.1578.
U.S. Futures at 05:30 AM ET
Dow futures declined 0.08%, S&amp;P 500 futures were down 0.17% and Nasdaq 100 futures slid 0.33%.
Forex at 05:30 AM ET
The U.S. Dollar Index fell 0.53% to 106.45, USD/JPY was down 1.12% at 151.37 and USD/AUD slid 0.14% to 1.5425.
The U.S. dollar dropped to a one-week low as markets digested Trump&#8217;s tariff pledges and prepared for month-end rebalancing, while the yen strengthened on expectations of rate hikes.
Photo by Pavel Bobrovskiy via Shutterstock.

Asia Mostly In Green, Europe Markets Decline; Crude Oil And Gold Rise While Dollar Dips - Global Markets Today While US Slept

Federal Reserve policymakers unanimously decided to reduce interest rates by 25 basis points to a range of 4.5%-4.75% during their November meeting, as they expressed confidence that inflation was moving sustainably toward their 2% target, according to <a href="https://www.benzinga.com/topic/interest-rates">meeting minutes released Wednesday.</a>
Participants highlighted several factors expected to maintain downward pressure on inflation, including diminishing business pricing power, the Fed&#8217;s restrictive monetary policy stance, and well-anchored long-term inflation expectations. 
<h3 class="wp-block-heading">Easing Inflation, But Core Pressures Persist</h3>
The minutes revealed that nearly all participants believed the latest data supported the view that inflation was steadily moderating, albeit with volatility in month-to-month readings. 
Inflation, they noted, had eased significantly from its peak. However, core inflation measures—excluding volatile food and energy prices—remained &#8220;somewhat elevated.&#8221;
Policymakers also discussed upside risks to inflation, including potential disruptions in global supply chains due to geopolitical events, a faster-than-anticipated loosening of financial conditions, unexpectedly robust consumer spending, persistent shelter price increases, and surging insurance costs across health, automotive, and housing sectors.
<h3 class="wp-block-heading">Resilient Economy and Labor Market Underpin Consumer Spending</h3>
Economic data reviewed at the meeting pointed to stronger-than-expected growth in consumer spending and overall economic activity. 
While participants generally agreed that the labor market remained solid, they emphasized the importance of closely monitoring indicators for signs of softening, which could influence the Fed&#8217;s future policy direction.
&#8220;Participants remarked that consumption had been supported by a solid labor market, rising real wages, and elevated household wealth,&#8221; the minutes stated. &nbsp;
<h3 class="wp-block-heading">Diverging Views on Monetary Policy Adjustments</h3>
The minutes also shed light on varying perspectives regarding the Fed&#8217;s next steps. 
While some participants suggested the central bank could pause its easing cycle and hold rates at restrictive levels if inflation remained sticky, others indicated that policy easing could be accelerated if economic conditions weakened, such as a downturn in the labor market or a notable slowdown in economic activity.
&#8220;Many participants observed that uncertainties concerning the level of the neutral rate of interest complicated the assessment of the degree of restrictiveness of monetary policy and, in their view, made it appropriate to reduce policy restraint gradually,&#8221; according to the November minutes. 
<h3 class="wp-block-heading">Market Reactions</h3>
The release of the Fed meeting minutes had little impact on short-term interest rate markets. 
Fed funds futures continued to show a 59% probability of another 25-basis-point rate cut in December, unchanged from market expectations prior to the minutes&#8217; publication.
The U.S. dollar index (DXY), tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), held steady, gaining 0.2% on the day. Meanwhile, Treasury yields saw marginal changes, with the 10-year Treasury yield broadly holding at 4.32%.
The S&amp;P 500 index – tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) – also held its marginal session gains, up 0.3%. 
Read Next:
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42194139/consumer-confidence-hits-2-year-high-as-recession-fears-fade-stock-market-optimism-soars-to-record-high">Consumer Confidence Hits 2-Year High As Recession Fears Fade: Stock Market Optimism Soars To Record High</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Fed Minutes Reveal 'Confidence' In Inflation Reduction, Yet Flag Divergent Views On Interest Rate Path Ahead

On Monday, November 24th, U.S. markets ended the day on a positive note, with gains fueled by a sharp drop in bond yields following Scott Bessent&#8217;s nomination as U.S. Treasury Secretary appointment eased concerns over government borrowing and trade tariffs, boosting market confidence. Small- and mid-cap stocks, which had underperformed earlier, saw strong gains, further supported by the Federal Reserve&#8217;s recent rate cuts.
In contrast, energy stocks declined as oil prices fell amid ongoing discussions of a potential ceasefire between Israel and Lebanon.
In economic data, the Chicago Fed National Activity Index dropped to -0.40 in October, down from -0.27 and below expectations of -0.20. Meanwhile, the Dallas Fed&#8217;s Texas manufacturing index improved to -2.7 in November, up from -3 but slightly missing forecasts of -2.4.
Most S&amp;P 500 sectors rose, led by real estate, materials, and consumer discretionary, while energy and tech lagged.
The Dow Jones Industrial Average was up 0.99% and closed at 44,736.57, the S&amp;P 500 gained 0.30% to 5,987.40, and the Nasdaq Composite rose 0.27% to finish at 19,054.84.
Asia Markets Today
<ul>
<li>On Tuesday, Japan&#8217;s Nikkei 225 declined 0.84% and ended the session at 38,411.50, led by losses in the Power, Automobiles &amp; Parts, and Railway &amp; Bus sectors.</li>
<li>Australia&#8217;s S&amp;P/ASX 200 fell 0.69% and ended the day at 8,359.40, led by losses in the Energy, Gold, and Financials sectors.</li>
<li>India&#8217;s Nifty 50 slid 0.12% to 24,192.95, while the Nifty 500 gained 0.05%, closing at 22,564.00. The decline was led by losses in the Power, Auto, and Oil and gas sectors.</li>
<li>China&#8217;s Shanghai Composite declined 0.12% to close at 3,259.76, and the Shenzhen CSI 300 fell 0.21%, finishing the day at 3,840.18.</li>
<li>Hong Kong&#8217;s Hang Seng rose 0.04% and closed the session at 19,159.20.</li>
</ul>
Eurozone at 05:30 AM ET
<ul>
<li>The European STOXX 50 index was down 0.77%.</li>
<li>Germany&#8217;s DAX fell 0.54%.</li>
<li>France&#8217;s CAC declined0.72%.</li>
<li>FTSE 100 index traded lower by 0.40%</li>
</ul>
Commodities at 05:30 AM ET
<ul>
<li>Crude Oil WTI was trading higher by 0.97% at $69.61/bbl, and Brent was up 0.88% at $73.14/bbl.</li>
<li>Natural Gas slid 0.26% to $3.434.</li>
<li>Gold was trading higher by 0.55% at $2,657.40, Silver was up 1.02% to $30.972, and Copper fell 0.10% to $4.1550.</li>
</ul>
US Futures at 05:30 AM ET
Dow futures declined 0.04%, S&amp;P 500 futures were down 0.02% and Nasdaq 100 futures slid 0.01%.
Forex at 05:30 AM ET
The U.S. dollar index fell 0.01% to 106.82, the USD/JPY was down 0.27% to 153.80, and the USD/AUD rose 0.21% to 1.5407.
Photo by Pavel Bobrovskiy via Shutterstock

Asia And Europe Markets Dip, Crude Oil And Gold Gain - Global Markets Today While US Slept

On Friday, November 22, U.S. markets closed higher, with all major indexes recording weekly gains. Optimism was driven by robust U.S. business activity and expectations of interest rate cuts.
However, tech faced pressure as Alphabet fell amid antitrust scrutiny, and Nvidia slipped following a cautious forecast. Investors also weighed geopolitical tensions, including Ukraine-Russia conflicts, and anticipated key developments, such as Trump&#8217;s Treasury Secretary selection.
According to economic data, the S&amp;P Global U.S. Services PMI rose to 57 in November from 55, while Manufacturing PMI edged up to 48.8 from 48.5. However, U.S. consumer sentiment dropped to 71.8, down from a preliminary 73 reading.
Industrials, financials, and consumer discretionary stocks led S&amp;P 500 gains Friday, while utilities and communication services lagged.
The Dow Jones Industrial Average was up 0.97% and closed at 44,296.51, the S&amp;P 500 gained 0.35% to 5,969.30, and the Nasdaq Composite rose 0.16% to finish at 19,003.65.
Asia Markets Today
<ul>
<li>On Monday, Japan&#8217;s Nikkei 225 gained 1.08% and ended the session at 38,735.00, led by gains in the Chemical, Petroleum &amp; Plastic, Mining and Textile sectors.</li>
<li>Australia&#8217;s S&amp;P/ASX 200 gained 0.28% and ended the day at 8,417.60, led by gains in the A-REITs, Healthcare, and Consumer Discretionary sectors.</li>
<li>India&#8217;s Nifty 50 rose 1.32% to 24,221.90, and Nifty 500 gained 1.58%, closing at 22,576.60, led by gains in the Oil &amp; Gas, Capital Goods, and Public Sector Undertakings sectors.</li>
<li>China&#8217;s Shanghai Composite declined 0.10% to close at 3,263.76, and the Shenzhen CSI 300 fell 0.46%, finishing the day at 3,848.09.</li>
<li>Hong Kong&#8217;s Hang Seng fell 0.41% and closed the session at 19,150.99.</li>
</ul>
Eurozone at 06:00 AM ET
<ul>
<li>The European STOXX 50 index was up 0.35%.</li>
<li>Germany&#8217;s DAX rose 0.45%.</li>
<li>France&#8217;s CAC gained 0.12%.</li>
<li>U.K.&#8217;s FTSE 100 index traded higher by 0.12%</li>
</ul>
Commodities at 06:00 AM ET
<ul>
<li>Crude Oil WTI was trading lower by 0.42% at $70.94/bbl, and Brent was down 0.40% at $74.32/bbl.</li>
<li>Oil prices steadied after last week&#8217;s 6% gains, driven by geopolitical tensions involving Russia and Iran. Markets await the OPEC+ meeting and rising Chinese crude demand, while potential U.S. sanctions on Iran threaten supply disruptions.</li>
<li>Natural Gas rose 3.99% to $3.418.</li>
<li>Gold was trading lower by 1.21% at $2,703.90, Silver was down 1.56% to $31.282, and Copper gained 0.67% to $4.1612.</li>
</ul>
U.S. Futures at 06:00 AM ET
Dow futures gained 0.68%, S&amp;P 500 futures were up 0.51% and Nasdaq 100 futures rose 0.61%.
Forex at 06:00 AM ET
The U.S. dollar index fell 0.55% to 106.97, the USD/JPY was down 0.23% to 154.38, and the USD/AUD rose 0.39% to 1.5355.
Photo by Pavel Bobrovskiy via Shutterstock

Asia Mixed, Europe Markets Gain While Gold And Dollar Dip - Global Markets Today While US Slept

Risk appetite remained robust in the final trading session of the week, with all major U.S. indices poised to close the week in positive territory. Small-cap stocks outperformed their large-cap counterparts, continuing their <a href="https://www.benzinga.com/news/small-cap">recent streak of dominance</a>.
Fresh business surveys highlighted a notable health in the U.S. economy, with private sector activity recording its strongest expansion in over two and a half years. The services sector, in particular, showed remarkable growth, maintaining its rapid pace of expansion.
The Russell 2000, a benchmark for small-cap equities, surged 1.7% on Friday, building on a 1.5% gain from the previous session. The S&amp;P 500 edged higher, heading for a five-day winning streak, and the Dow Jones Industrial Average climbed past the 44,000 mark, moving tantalizingly close to record highs. Technology stocks posted more modest gains.
The U.S. Dollar Index, tracked via the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), extended its rally for an eighth consecutive week—the longest streak in 14 months—surpassing the 107 level to hit a two-year high. The dollar's strength was fueled by a mix of robust U.S. economic data <a href="https://www.benzinga.com/news/econ-s/24/11/42138717/dollar-hits-2-year-highs-as-europes-recession-signals-spark-euro-pound-sell-offs">and economic malaise in Europe.</a>
In commodities, gold climbed for a fifth straight session, advancing 5.6% for the week, its best weekly performance since March 2023.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) also maintained its bullish momentum, soaring past $99,000 and edging closer to the highly anticipated $100,000 milestone. 
<h3 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,401.00</td>
<td>1.7%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>44,211.20</td>
<td>0.8%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,969.01</td>
<td>0.4%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,768.99</td>
<td>0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:05 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent111924&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.4% to $595.75.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.8% to $442.49.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched 0.2% up to $506.20.</li>
<li>The&nbsp;iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rallied 1.8% to $238.61.</li>
<li>The&nbsp;Consumer Discretionary Sector Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) outperformed, rising 1.6%. The&nbsp;Utilities Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) lagged, down 0.1%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
<ul>
<li>Intuit Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>) fell 4.4% in reaction to quarterly earnings. </li>
<li>Other stocks reacting to earnings reports were Copart Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPRT#NASDAQ">CPRT</a>), up 9.8%, Ross Stores Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROSS#NASDAQ">ROSS</a>), up 3.1%, and NetApp Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NASDAQ">NTAP</a>), down 2.7%. </li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42140842/sp-500-faces-volatile-2025-as-inflation-boom-could-return-bank-of-america-strategist">S&amp;P 500 Faces Volatile 2025 As &#8216;Inflation Boom&#8217; Could Return: Bank Of America Strategist</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

CPRT

INTU

NTAP

ROSS

Select Sector SPDR-Consumer Discretionary

Small Caps Rally, Gold Poised For Best Week Since March 2023, Bitcoin Tops $99,000: What's Driving Markets Friday?

The US Dollar takes a step back with markets in a holding pattern towards Friday's key NFP release.

US Dollar Edges Lower Ahead Of Jobless Claims, Trade Data

EUR/USD rises despite the French government's collapse. USD/JPY falls with BoJ rate hike bets in focus & ahead of jobless claims data.

Two Trades To Watch: EUR/USD, USD/JPY Forecast - Thursday, Dec. 5

The USD/JPY currency pair has seen a resurgence in bullish momentum, with gains extending to the resistance level of 151.22 before stabilizing around 150.00 at the time of writing.

USD/JPY Forecast: Bulls Reclaim Key Levels

USD/CAD edges lower on Thursday and snaps a three-day winning streak amid a softer USD. Rebounding US bond yields lend support to the USD and the pair ahead of the OPEC+ meeting.

USD/CAD Slides Back Closer To Mid-1.4000s Amid Modest USD Weakness

The euro traded with a firmer bias yesterday despite the French drama. It reached nearly $1.0545.

Fall Of French Government Does Not Roil The Markets

The upcoming NFP and ECB events have set EUR/USD FX options for volatility.

FX Options Insights - Thursday, Dec. 5

The AUD/USD pair ticks higher to near 0.6440 but remains trades inside Wednesday's trading range in North American trading hours on Thursday.

AUD/USD Price Forecast: More Downside Looks Likely Below 0.6400

U.S. Bond Yields Rise As Reserve Currency Status Wanes

Stock market operators across the major US indices hit pause overnight, steeling themselves for potential turbulence as the Labor Department prepares to release the pivotal November jobs data later on Friday

The Cautionary Canary Makes An Appearance Ahead Of NFP

Stocks tried to rally but foundered, with the futures falling even further from unchanged after the close.

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