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The U.S. stocks rally and the dollar falls on easing CPI inflation

The cooler-than-expected U.S. CPI inflation reading on Tuesday sparked a massive rally across the global stock markets and the growth-sensitive currencies, as it has increased the hopes that the Federal Reserve will have less motivation to raise interest rates further.

Brent crude falls to a 3-month low of $81 on weaker oil fundamentals

Both Brent and WTI crude oil prices tumbled over 4% on Tuesday, to have their lowest finish since end-July of $81.61/b and $77.37/b respectively, on the back of a slowdown in China’s oil demand and fuel exports, and the rising inventories, despite the fear of supply disruptions in the oil-rich Middle East.

Bitcoin, Solana and altcoins hit fresh yearly highs on ETF optimism

Bitcoin finally broke above the key $35,000 resistance level on Thursday morning, climbing as high as $37,000, the highest since May 2022, while some major altcoins hit fresh yearly highs as strong demand is flowing back into the crypto ecosystem, driven by the optimism around the launch of the first spot Bitcoin ETF.

U.S. equities advance higher on Fed’s dovish stance and lower yields

All 3 U.S. stock indices have started November on the right footing, posting their best trading week of the year so far last week, on hope for an end to the Federal Reserve’s rate-hiking campaign coupled with the solid Q3 earnings, the soft U.S. NFP data report, the falling crude oil prices, and the weaker U.S. dollar.

U.S. dollar retreated across the board on bets of no more Fed rate hikes

The DXY-U.S. dollar index retreated this morning to the nearly 106.20 mark, or 0.40% down, extending overnight losses, as investors increased bets that the Federal Reserve was done raising interest rates.

Gold retests $2,000/oz on geopolitical risk and recession fears

Gold shines again as its price is reapproaching the key $2,000/oz psychological level on surging demand for haven assets due to elevated geopolitical risk, disappointing Q3 earnings, and the recession fears in the Eurozone