Daily summary: USD gains as Powell stays hawkish

Wall Street indices trade mixed today - S&P 500 drops 0.2%, Dow Jones declines 0.4%, Nasdaq gains 0.1% and Russell 2000 adds 0.2%
European stock market indices traded higher today - German DAX gained 0.6%, UK FTSE 100 added 0.5%, French CAC 40 rallied 1% while Dutch AEX moved 0.9% higher
Fed Chair Powell said that he does not expect core inflation to return to 2% goal before 2025 and that he does not rule out making rate moves at consecutive meetings if needed
ECB President Lagarde said that she is not considering a rate pause at the moment and that another rate hike in July looks likely
ECB De Guindos said that a rate hike in July is set. ECB Stournaras said he cannot say if July will be the last hike
Wall Street Journal reported that US lawmakers are considering placing additional restrictions on chip sales to China amid fears that AI chips could be used in weapons development and hacking
Italian CPI inflation slowed from 7.6 to 6.4% YoY in June (exp. 6.8% YoY)
US goods trade balance for May showed a $91.1 billion deficit (exp. -$92.3 billion)
Oil gained after EIA report showed a massive 9.6 million barrel draw in US oil inventories (exp. +1.4 mb). Gasoline inventories increased 0.6 mb (exp. +1.3 mb) while distillate inventories were 0.1 mb higher (exp. +0.1 mb)
Deutsche Bank lowered 2023 Brent price forecast to $81.30 per barrel and 2024 forecast to $82.50 per barrel
Cryptocurrencies traded lower today but have managed to recover part of declines. Bitcoin trades 1.8% lower, Ethereum drops 2.5% while Dogecoin plunges 3.2%
Energy commodities traded mixed today - oil gained 2% while US natural gas prices dropped 4%
Precious metals traded lower as USD strengthened - gold dropped 0.1%, silver traded 0.2% down and platinum declined 1%
USD and JPY are the best performing major currencies while AUD and NZD lag the most

NZDUSD broke below the lower limit of the downward channel today as USD gained and Antipodean currencies lagged. Source: xStation5

5 December 2025, 4:30 PM

3 markets to watch next week (05.12.2025)

5 December 2025, 1:32 PM

BREAKING: Lower Unemployment in Canada🍁USDCAD sharply declines📉

5 December 2025, 10:05 AM

BREAKING: Euro-zone GDP slightly above expectations!📈 EURUSD remains stable

5 December 2025, 7:01 AM

BREAKING: Germany industrial orders for October higher than expected; EURUSD gains 📌

Forex

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Daily summary: USD gains as Powell stays hawkish

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