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-Asian News Asian stocks have made a hesitant start to the week, while gold hit a new peak over $2100 and Treasuries ran into profit-taking on their recent stellar gains. Oil failed to sustain an early rally that followed news of attacks on commercial shipping in the Red Sea. Three vessels came under attack in international waters on Sunday, while Yemen’s Houthi group claimed drone and missile attacks on two Israeli vessels in the area. USOil remains weighed by OPEC’s meeting last week and trades at $. -Cryptos & Bitcoin The weaker USD and traders expecting a 98% chance that the Federal Reserve will hold interest rates steady at next week’s policy meeting and consider cuts in the first half of next year have helped the crypto market. Bitcoin rallied over $40,000 for the first time since April and up over 60% from the September test of $25,000. Friday’s NFP data could add positivity with expectations of 180,00 new jobs for November compared to 150,000 in October. -US Bonds November has been one of the best-performing months for bonds with a significant increase in their prices. Yields have fallen sharply and US 10-year notes currently trade at about %, down from the previous near 5% level. With the Fed Funds futures pricing in no change to interest rates at the December 13th FOMC meeting and a 14% chance of a rate CUT by the March 20th meeting, the momentum may be set. -Market talk The US Dollar bounced a tad to start the first full trading week of December (USDIndex at , from lows on Friday), however, it remains under pressure following a weak November, where it lost significantly to major rivals. Stock markets closed positively on Friday with the bellwether S&P 500 (SPX500) breaching 4600, the US100 rotates around 16000 and the US30 at new 2023 highs. After a very volatile week, USOil closed under $ and trades at $ today. However, Gold and Bitcoin have stolen the show today, breaching $2100 and $40,000, respectively. Gold spiked on the weaker US dollar and Federal Reserve interest rate expectations, currently trading at t $2070, down from the peak of $2150 during Asia trading hours. Bitcoin rallied for the same reasons as the Fed is likely to cut rates as early as March. Check the UPCOMING WEBINARS here: • Download the BDSwiss iOS app: • Download the BDSwiss Android app: • Join our Telegram Channel: • Like us on Facebook: • Follow us on Twitter: • Follow us on LinkedIn: • Follow us on Instagram: • Subscribe to our Channel: Your capital is at risk. T&Cs apply.
