The Fed's favorite inflation indicator PCE and other data hit rate cut expectations, overnight U.S. stock gains paused. Currently, Trump's tariff threats and the Russia-Ukraine conflict continue to impact the market.
Today, the U.S. financial markets are closed for Thanksgiving. Most Asian stock markets declined, with the MSCI Asia-Pacific Index down 0.4%, India's main stock index falling over 1%, and the Philippine stock index closing down 1%. The Japanese and South Korean stock markets saw slight gains. European stocks opened higher, with the German DAX Index up 0.63%.
The market expects the Bank of Japan to raise interest rates in December, and the yen rebounded strongly yesterday, rising by 1%. Today, the yen has fallen back, while the dollar remains strong. The dollar rose 0.5% against the yen to 151.8, and 0.3% against the euro.
In other currencies, the Mexican peso surged 1.5% after Trump held talks with the Mexican president. The Bank of Korea unexpectedly cut interest rates by 25 basis points to 3%, leading to a weakening of the won.
In commodities, gold prices remained steady at $2,637, but fell about 4% in November, marking the worst monthly performance in over a year. OPEC is expected to continue delaying the restoration of supply, but crude oil rebounded weakly and fell slightly. Meanwhile, Bitcoin rose sharply before retreating to around $95,000.
【16:37 Update】
The Mexican peso rose 1.5% to an intraday high.
【16:20 Update】
European stocks opened collectively higher, with the German DAX Index up 0.63%, the UK FTSE 100 Index up 0.17%, the French CAC40 Index up 0.42%, and the Euro Stoxx 50 Index up 0.80%.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/ac3a1a44-ac5a-4cb4-8335-4dcbf3f6e5f8.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/ac3a1a44-ac5a-4cb4-8335-4dcbf3f6e5f8.png"/>
India's main stock index fell over 1%, the Philippine stock index closed down 1%, and the Japanese and South Korean stock markets saw slight gains.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/8c6b0120-1617-46f0-a571-c250588909d5.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/8c6b0120-1617-46f0-a571-c250588909d5.png"/>
Gold prices remained steady at $2,637.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/4f3e8301-72b7-40c1-939c-31cf979c3c4e.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/4f3e8301-72b7-40c1-939c-31cf979c3c4e.png"/>
Crude oil rebounded weakly and fell slightly.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/2111232b-3920-4954-815f-485aad855a1a.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/2111232b-3920-4954-815f-485aad855a1a.png"/>
The dollar rose 0.5% against the yen to 151.85 yen.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/edd9a83c-54ec-4cd5-93f5-905d7f137dc2.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/edd9a83c-54ec-4cd5-93f5-905d7f137dc2.png"/>
The US dollar rose 0.3% against the euro.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/ba896555-0b03-4910-99f8-3504266bb8d0.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/ba896555-0b03-4910-99f8-3504266bb8d0.png"/>
Bitcoin surged and then fell back to around $95,000.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/932ac166-5aa7-482d-91dd-63900b6a85c3.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/932ac166-5aa7-482d-91dd-63900b6a85c3.png"/>

U.S. stocks are closed for Thanksgiving. The market expects the Bank of Japan to raise interest rates soon, leading to a surge in the yen followed by a pullback, while the dollar strengthens. Crude oil rebounds weakly; gold remains stable but has fallen about 4% in November, marking its worst monthly performance in over a year

- The PCE inflation data has dampened interest rate cut expectations, leading to a pause in U.S. stock gains amid ongoing market influences from Trump's tariff threats and the Russia-Ukraine conflict.  
- Asian markets mostly declined, with the MSCI Asia-Pacific index down 0.4%, while European stocks opened higher, particularly the German DAX, which rose 0.63%.  
- The Japanese yen initially strengthened but later fell, as the dollar gained against both the yen and the euro, while gold prices remained stable at $2,637 despite a monthly decline.

Most Asian stock markets fell, European stocks opened higher, the yen declined, and the dollar strengthened