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US Dollar Hits 1-Week Low, Focus on PCE Report
The US Dollar grapples with a one-week low against major currencies as investors await critical US inflation data for Federal Reserve policy insights. Disappointing Q3 GDP figures, revealing a growth rate of 4.9%, below market expectations, contribute to the Dollar’s decline. Attention shifts to the US PCE Index for potential market shifts. Gold stages a recovery on Dollar depreciation, attracting cautious investors amid subdued market movements and concerns over a downbeat US GDP report. Angola’s OPEC exit briefly impacts oil prices, leading to a dip, but supply disruption fears drive a rebound. In the equities ... (full story)