Market movements: The dollar is falling while gold and Bitcoin are rising!

The financial markets experienced noticeable volatility on Friday as the U.S. markets resumed trading after the Thanksgiving holiday. The performance of key assets, including currencies like the dollar and cryptocurrencies like Bitcoin, as well as oil and stocks, varied due to significant economic and geopolitical factors.

These movements demonstrate how much the markets are affected by global economic changes, while attention remains focused on developments in monetary policy and geopolitical tensions that impact the markets.

Decline of the U.S. Dollar Index

The U.S. Dollar Index fell by 0.32% to settle at 105.81 points. This decline came amid weak U.S. bond yields, alongside increased market expectations for the Federal Reserve to lower interest rates at its next meeting. According to the FedWatch tool, the probability of a 25 basis point rate cut reached 66%.

Rise in Gold Prices

Spot gold contracts achieved significant gains, rising by $22 to reach $2,660 per ounce. The weakness of the dollar and growing expectations of interest rate cuts supported the yellow metal. Additionally, geopolitical tensions, particularly the Russia-Ukraine war, increased the demand for gold as a safe haven.

Strong Rise in Bitcoin

Bitcoin rose by 2.40% to reach $97,350, supported by increased cash flows into spot Bitcoin funds. The dollar's weakness also boosted demand for the leading cryptocurrency, amid investor optimism regarding its future prospects.

Decline in Crude Oil Prices

Oil prices decreased due to reports about the possibility of easing tensions in the Middle East, as well as discussions about disagreements within the OPEC+ alliance regarding production levels. U.S. crude futures fell by 0.36% to settle at $68.61 per barrel, while Brent crude contracts dropped by 0.40% to $72.36 per barrel.

Improvement in U.S. Stock Indexes' Performance

U.S. stock indexes achieved some gains, with the Dow Jones Industrial Average rising by 0.42%, nearing 44,910.65 points. The S&P 500 index increased by 0.56% to 6,032.38 points, while the Nasdaq Composite Index gained about 62 points to settle at 20,272.04 points.

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