The US dollar hit bottom and rebounded in the short term, but there is heavy resistance above, and the general direction is still bearish

The US dollar hit bottom and rebounded in the short term, but there is heavy resistance above, and the general direction is still bearish

On Friday (December 8th), due to US policymakers no longer raising interest rates further and instead planning to cut rates three times next year, the Nasdaq 100 index closed at a historic high, with the last time reaching a historic high being two years ago. After a major shift in the attitude of the Federal Reserve, both the S&P 500 index and the technology dominated index set a record for seven weeks of consecutive gains. Even opposition from New York Fed Chairman John Williams failed to curb the gains. In an interview on Friday, he said it was “too early” to consider a rate cut in March.

The gold market is expected to once again stand firm by the end of this week, testing the key resistance level of $2050 per ounce. Despite the enormous market potential, analysts point out that precious metals still need to recover from recent sharp declines after reaching historical highs. Analysts point out that the fate of gold may improve as it enters the final full trading week of 2023.

The S&P 500 index closed relatively flat, with a weekly increase of 2.5%. The Dow Jones Industrial Average rose 0.2%, hitting a historic high for the third consecutive time. Despite mixed trading on Friday, US treasury bond bonds rose across the board.