The US dollar continued to rise strongly, putting great pressure on commodities. US stocks also declined after a period of hot growth.
Financial economic news shows the situation of US stocks on November 15: At the end of the session, the Dow Jones index stopped at 43,444.99 points, down 0.7%. The S&P 500 decreased 1.32% to 5,870.62 points and the Nasdaq Composite decreased 2.24% to 18,680.12 points.
The US dollar continued to rise sharply, surpassing 106.6 against a basket of six major currencies. The yield on the 10-year US Treasury bond was also on the rise. At 9:45 a.m. on November 15, both were showing signs of moving sideways.
Standard Chartered foreign exchange expert Steven Englander stressed that Trump's election victory was the main driver behind the USD's strongest rally in many years.
The US dollar could reach parity with the euro for the first time in two years if former President Donald Trump carries out his plans to impose massive tariffs, according to a new forecast from analysts at Barclays.: 60% for imports from China and 10% for all other imports.
On the contrary, Mr. Chu Min - former Deputy Governor of the People's Bank of China (PBOC) warned that Beijing has many "cards" to deal with US tariffs, in an interview with Bloomberg Television on November 15.
The IMF calculates that the trade war could reduce global growth starting in 2025.
Economic and financial news on the gold market, closing the trading session on November 15, spot gold price decreased by 0.1% to 2,562.59 USD/ounce, while gold futures contract decreased by 0.2% to 2,567.20 USD. Last week, gold decreased by about 4%.
Other metals such as the December 2024 silver contract fell 0.4% to $30.432/troy ounce. The January 2025 platinum futures contract rose slightly by 0.1% to $945.1/troy ounce. The December 2024 copper contract fell 0.6% to $4.0645/pound.
At the end of the week, the WTI December crude oil contract stopped at 67.02 USD/barrel, down 2,45% and down more than 6% since the beginning of the year. Meanwhile, the Brent crude oil futures contract also decreased more than 2% to 71.04 USD/barrel, down nearly 8% since the beginning of the year.
