💨 Abstract

The US dollar is set to record significant weekly gains, approaching one-year highs, as a hawkish stance from the Federal Reserve chief boosted short-term Treasury yields and dampened expectations for immediate rate cuts. Asian shares showed signs of stability, with Chinese retail sales exceeding forecasts in October, while other indicators missed. The euro suffered heavy losses, with the dollar gaining against major peers, due to expectations of more aggressive policy easing in Europe.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖