US October PCE Inflation Edges Up; Gold Plummets Nearly 20 Dollars!

TOPONE Markets | 2024-11-28 11:55

Zusammenfassung：Hot spot trackingThe revised U.S. GDP in the third quarter was 2.8%, unchanged from the initial value. Bullish for USD.U.S. durable goods orders rose slightly in October; initial jobless claims fell.

Hot spot tracking

The revised U.S. GDP in the third quarter was 2.8%, unchanged from the initial value. Bullish for USD.

U.S. durable goods orders rose slightly in October; initial jobless claims fell. Bullish for USD.

Core PCE prices in October were in line with expectations year-on-month. A slight rebound is negative for the US dollar.

Product Hot Comment

Forex
ProductYesterday's ChangeYesterday's CloseToday's OpenEUR/USD▲0.75%1.056561.05658GBP/USD▲0.88%1.26791.26803AUD/USD▲0.33%0.649990.64999USD/JPY▼-1.30%151.094150.945GBP/CAD▲0.71%1.778861.77806NZD/CAD▲0.84%0.82680.82633
📝 Review:The U.S. dollar index fell to a two-week low on Wednesday as investors remained wary of Trump's tariff pledges. It finally closed down 0.75% at 106.07. The benchmark 10-year U.S. bond yield closed at 4.2640%; the two-year U.S. bond yield closed at 4.2370%.
🕵️ Operation suggestion:USD/JPY 151.438 Buy Target Price 152.696

Gold
ProductYesterday's ChangeYesterday's CloseToday's OpenGold▲0.13%2636.042637.94Silver▼-1.10%30.08130.055
📝 Review:Affected by the weakening of the US dollar, spot gold continued to strengthen in the Asian and European markets. However, as U.S. PCE inflation picked up slightly in October, gold prices gave back most of their gains during the day. It finally closed up 0.30% at $2,635.79 per ounce. Spot silver was even more affected by the PCE data and finally closed down 1.14% at $30.07 per ounce.
🕵️ Operation suggestion:Gold 2636.57 Sell Target Price 2609.04

Crude Oil
ProductYesterday's ChangeYesterday's CloseToday's OpenWTI Crude Oil▼-0.31%68.60668.597Brent Crude Oil▼-0.18%72.32672.326
📝 Review:International prices fell slightly as a ceasefire agreement between Israel and Hezbollah took effect on Wednesday. WTI crude oil finally closed down 0.30% at US$68.72/barrel; Brent crude oil closed down 0.18% at US$72.32/barrel.
🕵️ Operation suggestion:WTI Crude Oil 68.643 Sell Target Price 66.794

Indice
ProductYesterday's ChangeYesterday's CloseToday's OpenNasdaq 100▼-0.83%20752.1820771.18Dow Jones▼-0.30%44762.944794.9S&P 500▼-0.38%5998.156003.45US Dollar Index▼-0.82%105.91105.91
📝 Review:The Dow Jones Industrial Average closed down 0.3%, the S&P 500 Index fell 0.38%, and the Nasdaq Composite Index fell 0.6%. Tesla (TSLA.O) and Nvidia (NVDA.O) both fell more than 1%, MicroStrategy (MSTR.O) rose nearly 10%, and Dell (DELL.N) fell 12%. The Nasdaq China Golden Dragon Index closed up 2.8%, BeiGene (BGNE.O) rose 7%, Alibaba (BABA.N) rose 1.6%, and iQiyi (IQ.O) rose 8%.
🕵️ Operation suggestion:Nasdaq 100 20796.800 Buy Target Price 21028.932

Crypto
ProductYesterday's ChangeYesterday's CloseToday's OpenBitCoin▲4.83%96292.496057.3Ethereum▲9.24%3633.83666.8Dogecoin▲5.22%0.401610.40254
📝 Review:Recently, the Bitcoin market has experienced significant price fluctuations, with prices fluctuating between $57,493.3 and $99,588.01. Currently, the market generally believes that a period of price correction has begun, which may indicate a short-term price decline. According to this analysis, the potential bottom price of Bitcoin may be in the range of US$73,573.47-91,169.06.
🕵️ Operation suggestion:BitCoin 95933.6 Buy Target Price 99436.3