Date: 28th November 2023. Market Recap: Bonds up; Stocks weaker; DXY set for the worst month in a year. Trading Leveraged Products is risky Market Trends: Asian stocks fell in response to declines in US and European markets, triggered by hawkish signals from central banks on interest rates. Bonds extended gains amid growing conviction that central banks in Europe and the US have concluded rate hikes, with expectations of potential rate cuts next year. The US Dollar hovered near three-month lows as investors believed the Federal Reserve had completed its rate-hike cycle, with attention focused on an upcoming crucial inflation report. Central Bank Developments: ECB President Lagarde noted that the central bank’s efforts to control price growth are ongoing, citing strong wage growth and an uncertain outlook despite easing inflation pressures in the eurozone. CME’s FedWatch indicated a 95% likelihood that the US central bank will maintain unchanged interest rates next month, but there is a growing possibility of a rate cut gaining traction in mid-2024. Global Economic Indicators: Australia experienced an unexpected decline in retail sales for October, with consumers cutting spending on everything except food. Germany saw a slight improvement in consumer sentiment as the Christmas month approached, but it remained at a very low level, attributed to high inflation, indicating no signs of a sustainable recovery in Europe’s largest economy. Financial Markets Performance: Weaker-than-expected home sales and the Dallas Fed manufacturing index weighed on Treasury yields, with the 10-year yield at 4.396%. JPN225 closed 0.12% lower at 33,408.39, despite being up 8% for the month, failing to surpass its highest closing level in three decades reached on July 3 in recent attempts. JPY gained momentum as the USDIndex hit a three-month low on weaker-than-expected data, while EURUSD dipped to 1.0937, breaching the bottom of a one-week channel with the next support at 1.0925. AUD rose to 0.6630, reaching a four-month high, while NZD touched a seven-week high of 0.6114. USOIL eased 0.13% to $74.74, and UKOIL dropped below $80 as oil prices fluctuated ahead of an OPEC+ meeting later in the week. Gold reached $2,013.80, hitting a fresh six-month peak of $2,017.89 earlier in the session. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.