Crude oil may continue to rise, U.S. dollar is under pressure
This week the market will usher in the Thanksgiving holiday in the United States. Investors need to pay attention to the closing announcements of major exchanges in the market during the holiday.

Forex: The U.S. dollar rose against major currencies such as the euro and yen on Friday. At the beginning of the European trade on Monday, it fluctuated between 0.1% and flat. The risk-sensitive Australian dollar and New Zealand dollar fell about 0.2% each. The euro/dollar rose 0.1%.
The pound is finishing its downward trend, as the trade negotiations between the UK and the EU appear to be over the deadline again.
The possibility that a trade agreement cannot be reached before the end of the transition period on the 31st increases. The British pound/dollar GBP=D3 fell 0.3% to 1.3182.
Gold market: Gold futures prices closed higher on Friday, but gold prices fell on a weekly basis and recorded a second consecutive week of decline. On Friday, gold futures prices rose 0.6% to close at US$1,872.40 per ounce. However, the price of gold futures fell 0.7% on a weekly basis.
Gold prices rose slightly in early Asian trading on Monday, the weaker U.S. dollar and expectations of further US stimulus to cushion the economic shock of the epidemic provided support. Spot gold rose 0.1% to $1,872.96 per ounce. U.S. gold futures held steady at $1,871.70.
Oil market: US crude oil futures prices closed higher on Friday, bringing WTI crude oil futures to a cumulative weekly increase of 5%. Vaccine research and development boosted demand for crude oil. On Friday, January WTI futures closed up 52 cents, or 1.2%, to close at $42.42 per barrel.
Cao Bowen of Huijin Youdao pointed out that WTI crude oil stepped back to 50 of 37.0 last Friday. For next week's crude oil, he believes that crude oil has a chance to start the third wave of rising, that is, the first wave rose from 33.6 to 39.3, and the second wave rose from 37.0 to 43.0. If it breaks through the 43.0 high point, theoretically the third wave rises. The target position can be 5.7~6 dollars from 40.0 upwards.
Bond market: U.S. Treasury yields reduced their overnight declines on Friday, but closed down and trading was volatile, as investors weighed in on the prospect of new fiscal stimulus and the US government’s request for the Fed to return unused funds in support of the market plan. The benchmark US 10-year Treasury bond yield fell to an 11-day low of 0.818%, and then rebounded to 0.829%. The yield fell from an eight-month high of 0.975% hit last week.
Stock market: On Friday, the Dow Jones Industrial Average closed down 0.75% to 29263.48 points; the Nasdaq Composite Index fell 0.42% to 11854.97 points; the US Standard & Poor's 500 Index fell 0.68% to 3,557.54 points. Last week, the Dow fell 0.7%, the S&P 500 fell about 0.8%, and the Nasdaq rose 0.2%.
Asian stocks: The Shanghai Composite Index closed at 3377.73 points, up 0.44%, with a turnover of 312.7 billion yuan. The Shenzhen Stock Exchange Component Index closed at 13852.42 points, up 0.54%, with a turnover of 438.3 billion yuan. The Growth Enterprise Market Index closed at 2667.09 points, up 0.83%, with a turnover of 178.9 billion yuan.
European stocks: European stocks closed on Friday with general gains. The German DAX30 index rose 0.4%, the UK FTSE 100 index rose 0.25%, the French CAC40 index rose 0.39%, and the Eurostoxx 50 index closed 0.49% higher.
Last week, the U.S. Treasury Department asked the Fed to return the remaining funds allocated earlier to release up to $455 billion in funds to Congress to stimulate the economy. In this regard, economist Carl Weinberg said that the decision of U.S. Treasury Secretary Mnuchin is like taking away the lifeboat from the Titanic. Gundlach, known as the "King of Bonds," said Mnuchin's request for repayment will stifle the corporate credit plan that has flourished this spring. He questioned whether the market could sustain without the support of the Fed.
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