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The U.S. index hovers near two-week lows, and silver hits a new all-time high!

Post time: 2025-12-01 views

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Hello everyone, today XM Forex will bring you "[XM Forex]: The U.S. index hovers near a two-week low, and silver hits a new all-time high!". Hope this helps you! The original content is as follows:

On December 1, in early Asian trading on Monday, Beijing time, the U.S. dollar index was hovering around 99.428. Last Friday, as investors increased their bets on the Federal Reserve cutting interest rates in December and U.S. holidays made liquidity scarce, the U.S. dollar index finally closed down 0.05% at 99.48 points, recording its worst weekly performance since the end of July; the benchmark 10-year U.S. Treasury yield finally closed at 4.0180%, and the 2-year U.S. Treasury yield, which is sensitive to the Federal Reserve's policy interest rate, closed at 3.5020%. CME Group "unplugged the www.xmasseuse.comwork cable" due to a data center failure last Friday. Spot gold fluctuated violently and returned to above $4,200 after futures prices resumed quotations. It finally closed up 1.49% at $4,218.77 per ounce; spot silver set a new all-time high, eventually rising 5.61% to $56.37 per ounce. International crude oil hit its longest monthly losing streak since 2023 as investors weighed the geopolitical risk premium in the oil market amid the protracted peace talks between Russia and Ukraine. WTI crude oil finally closed down 1.06% at US$58.56/barrel; Brent crude oil finally closed down 0.99% at US$62.89/barrel.

Analysis of major currency trends

U.S. dollar index: As of press time, the U.S. dollar is hovering around 99.42. The U.S. dollar faces major challenges. It has been on the defensive every trading day, pulling the U.S. dollar index back from last week's gains and keeping the focus firmly on the downside. Technically, if the U.S. Dollar Index remains below 99.50, it will move towards the support level of 98.85 to 99.00.

The U.S. index hovers near two-week lows, and silver hits a new all-time high!(图1)

EUR: At press time, EUR/USD was hovering around 1.1603. In the first two weeks of November, the U.S. currency found some support amid speculation that the Federal Reserve (Fed) might not cut interest rates at its upcoming December meeting. The US dollar has lost momentum and speculative interest has gradually resumed bets on interest rate cuts. Technically, a successful test of the 1.1585–1.1600 resistance level will push EUR/USD towards the next resistance level of 1.1715–1.1730.

The U.S. index hovers near two-week lows, and silver hits a new all-time high!(图2)

Sterling: As of press time, GBP/USD is hovering around 1.3239. Against the backdrop of increased odds of an interest rate cut by the Bank of England (BoE), GBP/USD has found support due to the UK autumn budget and expectations for a December interest rate cut by the US Federal Reserve (Fed). Technically, if it breaks through 1.3265, it will push GBP/USD towards the next resistance level of 1.3360-1.3375.

The U.S. index hovers near two-week lows, and silver hits a new all-time high!(图3)

Gold and crude oil market trend analysis

1) Gold market trend analysis

In Asian trading on Monday, gold hovered around 4228.30. As speculation that the U.S. Federal Reserve (Fed) may cut interest rates in December increased, the price of precious metals rose slightly. Traders awaited the November report of the U.S. ISM Manufacturing Purchasing Managers Index (PMI) released later on Monday. src="/uploads/2025/12/4a0icyf23rf.jpg" />

Technical: From the daily chart, gold prices remain firmly above the 20-day simple moving average (SMA) and the 23.6% Fibonacci retracement of the August-October uptrend (at $4,125/ounce). The relative strength index (RSI) is trading sideways near 60. Looking upward, gold price resistance levels may appear at $4,245/ounce (high on November 13), $4,300/ounce (round number mark) and $4,380/ounce (uptrend). The end of the trend).

2) Crude oil market trend analysis

On Monday, crude oil was trading around 59.22. The Organization of the Petroleum Exporting Countries and its allies (OPEC+) agreed on Sunday to maintain the price in the first quarter of 2026. Oil production remains unchanged. In addition, OPEC+ said in a statement that the group has approved a mechanism to assess members' maximum production capacity to set an output baseline from 2027 onwards, and members' output targets will be based on this.

The U.S. index hovers near two-week lows, and silver hits a new all-time high!(图4)

Technical: The short-term trend is further downward. EIA expects WTI to average $58.65 in the fourth quarter of 2025, then fall to $50.30 in the first quarter of 2026, and its full-year forecast is $65.15 in 2025 and $51.26 in 2026. Standard Chartered’s forecast is more positive. , is expected to be US$65.40 in 2025 and US$59.90 in 2026; while JPMorgan Chase is expected to be US$63 this year and US$54 next year.

Foreign exchange market trading reminder on December 1, 2025

①09:05 Bank of Japan Governor Kazuo Ueda delivers a speech

②09:45 China November RatingD. og Manufacturing PMI

③15:30 Swiss real retail sales annual rate in October

④16:50 French November manufacturing PMI final value

⑤16:55 Final value of German manufacturing PMI in November

⑥17:00 Final value of Eurozone manufacturing PMI in November

⑦17:30 British manufacturing in November Industry PMI final value

⑧17:30 UK Central Bank mortgage loan approval in October

⑨22:45 US November S&P Global Manufacturing PMI final value

⑩23:00 US ISM Manufacturing PMI in November

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