Analyzes

EUR/USD holds a tight range and forms a bullish flag while traders await key data from the ECB and the Federal Reserve.

Weekly market outlook for December 1: gold, FX pairs, indices and Bitcoin with key levels and trends for traders in Spain and Latin America.

This week, the US Dollar has faced significant challenges. It spent every session on the defensive, pulling the Dollar Index (DXY) back from last week’s gains and putting the focus firmly on the downside for now.

The US Dollar (USD) came under renewed downside pressure, partially eroding the previous week’s strong uptick, as investors continued to pencil in the likelihood that the Federal Reserve could lower its interest rates once again at its December 10 gathering.

The Pound Sterling (GBP) staged an impressive recovery against the US Dollar (USD), as GBP/USD clinched fresh monthly highs above the 1.3250 psychological level.

Gold (XAU/USD) gathered bullish momentum at the beginning of the week on growing expectations of a Federal Reserve (Fed) interest rate cut in December.