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The U.S. dollar index remains weak as the U.S. and Britain reach an agreement in principle on drug pricing
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Hello everyone, today XM Forex will bring you "[XM Group]: The U.S. dollar index remains weak, the United States and the United Kingdom have reached an agreement in principle on drug pricing." Hope this helps you! The original content is as follows:
On December 2, in early Asian trading on Tuesday, Beijing time, the U.S. dollar index was hovering around 99.45. On Monday, the U.S. ISM manufacturing PMI in November fell short of expectations, and the U.S. dollar index remained weak. It was close to the 99 mark during the session, and finally closed down 0.07% at 99.41 points; the benchmark 10-year U.S. bond yield finally closed at 4.0920%, and the 2-year U.S. bond yield, which is sensitive to the Federal Reserve's policy interest rate, closed at 3.5490%. Helped by expectations of U.S. interest rate cuts and the weakening of the U.S. dollar, spot gold rose to its highest level in six weeks, eventually closing up 0.37% at $4,233.54 per ounce; spot silver hit a record high, once approaching the $59 mark, and finally closed up 2.88% at $57.96 per ounce. International oil prices rose as a key pipeline linking Kazakhstan's oil fields to Russia's Black Sea coast was damaged after an attack in Ukraine and as traders assessed potential U.S. military action against Venezuela. WTI crude oil stood above $59 and finally closed up 1.83% at $59.52/barrel; Brent crude oil finally closed up 1.67% at $63.35/barrel.
Analysis of major currency trends
U.S. dollar index: As of press time, the U.S. dollar is hovering around 99.45. The U.S. dollar index is likely to fall as the likelihood of a rate cut by the Federal Reserve in December increases. The Chicago Mercantile Exchange's FedWatch tool suggests that there is an 87% chance of a 25 basis point rate cut in December. Demand for asylum has weakened amid ongoing discussions over a potential Ukraine-Russia peace deal. Technically, the nearest support level for the U.S. dollar index is between 98.85 and 99.00. fell below 98.8The 5 mark will push the US dollar index towards the next support level of 98.00-98.15.



Gold and crude oil market trend analysis
1) Gold market trend analysis
In the Asian market on Tuesday, gold hovered around 4222.32. Precious metal prices rose slightly as speculation intensified that the U.S. Federal Reserve (Fed) might cut interest rates in December. Traders awaited the November report on the U.S. ISM Manufacturing Purchasing Managers Index (PMI) due later on Tuesday.

2) Crude oil market trend analysis
On Tuesday in the Asian session, crude oil was trading around 59.27. The change in OPEC+ policy xmaccount.comes against a sensitive geopolitical backdrop, as the United States seeks to promote a lasting de-escalation between Russia and Ukraine. Washington has suggested a peace deal could include easing sanctions on Moscow, a scenario that is likely to increase global oil supplies. At the same time, the alliance approved a new mechanism to assess members' maximum sustainable production capabilities from 2027, which will determine a future output baseline.

Foreign exchange market trading reminder on December 2, 2025
15:00 Monthly rate of Nationwide House Price Index in the UK in November
18:00 Initial value of the Eurozone CPI annual rate in November
18:00 Eurozone November Initial CPI monthly rate
18:00 Euro zone unemployment rate in October
23:00 Federal Reserve Board Governor Bowman’s testimony
05:30 the next day API crude oil inventories in the United States for the week of November 28
The above content is about "[XM Group】: The U.S. dollar index remains weak, the United States and the United Kingdom reach an agreement in principle on drug pricing. The entire content is carefully xmaccount.compiled and edited by the editor of XM Foreign Exchange. I hope it will be helpful to your trading! Thanks for the support!
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