Weekly Forecast
The EUR/USD pair advanced for a second consecutive week, comfortably trading above the 1.1600 mark as Friday comes to an end. The US Dollar (USD) spent most of these last few days under pressure amid optimism about the United States (US) government reopening.
The Pound Sterling (GBP) consolidated its recovery from seven-month lows against the US Dollar (USD), as GBP/USD lacked bullish conviction.
Bitcoin (BTC) market structure continues to deteriorate as the capitulation phase begins to take shape, with BTC sliding below $97,000 on Friday and extending losses to more than 7% so far this week.
The US Dollar (USD) could not reverse the ongoing bearish tone this week, prompting the US Dollar Index (DXY) to retreat for the second week in a row. That said, the index further extended its rejection from recent multi-week highs north of the psychological 100.00 barrier set on November 5.
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In-Depth Analysis
In September, inflation rebounded slightly in the United States, the Eurozone and Japan, while remaining stable in the United Kingdom. In the United States, the inflationary impact of tariffs has so far been contained.
The Fed eased its monetary policy, with two expected announcements: the end of the central bank's balance sheet reduction process from 1st December; and a second straight cut (-25 bp) in the Fed Funds target, without unanimity, bringing it to +3.75% - +4.0%, due to downside risks in the labour market.
