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market analysis
The U.S. index approaches the 100 mark, and many Federal Reserve officials oppose an interest rate cut in December!
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Hello everyone, today XM Forex will bring you "[XM official website]: The U.S. index is approaching the 100 mark, and many officials from the Federal Reserve oppose an interest rate cut in December!". Hope this helps you! The original content is as follows:
On November 3, in early Asian trading on Monday, Beijing time, the U.S. dollar index was hovering around 99.81. Last Friday, as many Federal Reserve officials publicly expressed their opposition to the Federal Reserve's interest rate cut in December, the U.S. dollar index continued to strengthen and recorded its best monthly performance since July, finally closing up 0.25% at 99.70. The benchmark 10-year U.S. Treasury yield finally closed at 4.079%, and the 2-year U.S. Treasury yield, which is sensitive to the Fed's policy rate, closed at 3.582%. Spot gold fluctuated downwards and dived during the U.S. trading session. It once plunged more than 1% during the session, and then recovered some of the lost ground, returning to near the $4,000 mark. It finally closed down 0.53%, closing at $4,003.23 per ounce, but still recorded a third consecutive month of gains; spot silver finally closed down 0.47%, at $48.68 per ounce. Crude oil continues to be disrupted by news. Oil prices suddenly rose due to media reports that the United States may launch an air strike on Venezuela, but fell back after U.S. President Trump issued a denial statement on social media. WTI crude oil once returned to above US$61 during the session, and finally closed up 0.96% at US$60.66/barrel; Brent crude oil finally closed up 0.88% at US$64.47/barrel.
Analysis of major currency trends
U.S. dollar index: As of press time, the U.S. dollar is hovering around 99.81. The U.S. Dollar Index has begun to rebound significantly, approaching the psychological 100.00 area, or a new two-month high, something that would have been unthinkable not long ago when the U.S. dollar was at a more than three-year low and all signs pointed to the downside. Technically, the nearest resistance level for the U.S. dollar index is located in the 100.00–100.15 range. A break above the 100.15 level will drive the direction of the U.S. Dollar IndexNext resistance is 101.85–102.00.



Gold and crude oil market trend analysis
1) Gold market trend analysis
In Asian trading on Monday, gold hovered around 3974.16. Precious metals extended their losses as constructive outcomes between China and the United States strengthened global risk appetite. Traders awaited the release of U.S. ISM Manufacturing Purchasing Managers' Index (PMI) data for October, which is scheduled to be released later on Monday.

2) Crude oil market trend analysis
On Monday’s Asian session, crude oil was trading around 61.09. Traders initially bid up prices on concerns that U.S. sanctions on Rosneft and Lukoil could disrupt global flows. However, these gains were quickly reversed as it emerged that these measures were more symbolic than structural.

Foreign exchange market transaction reminder on November 3, 2025
①09:45 China's October RatingDog manufacturing PMI
②15:30 Switzerland's October CPI monthly rate
③16:50 France's October manufacturing PMI final Value
④16:55 Final value of German manufacturing PMI in October
⑤17:00 Final value of Eurozone manufacturing PMI in October
⑥17:30 Final value of British manufacturing PMI in October
⑦22:45 US October S&P Global Manufacturing PMI Final value
⑧23:00 U.S. ISM manufacturing PMI in October
⑨23:00 U.S. monthly construction spending rate in September
⑩Federal Reserve Daley gave a speech at 01:00 the next day
At 02:30 the next day, Bank of Canada Governor MacCallum gave a speech
At 04:00 the next day, the U.S. Treasury Department announced the fourth quarter financing estimate
The above content is about "[XM official website]: The U.S. index is approaching the 100 mark, and many Federal Reserve officials oppose an interest rate cut in December!" The entire content was carefully xmhouses.compiled and edited by the XM foreign exchange editor. I hope it will be helpful to your trading! Thanks for the support!
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