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Gold Prices, Nasdaq 100 Rejected at Resistance, USD/JPY Flies Ahead of Powell

December 1, 2023

Via: DailyFX

U.S. Treasury yields bounced back on Thursday after San Francisco Federal Reserve President Mary Daly said that it is premature to declare victory against inflation and that policymakers are not yet thinking about reducing borrowing costs.

The rally in rates, which boosted the U.S. dollar across the board, weighed on technology stocks and non-yielding assets, with the Nasdaq 100 sliding for the second day in a row and gold prices stalling at technical resistance. Meanwhile, USD/JPY rose sharply, bouncing off its 100-day simple moving average.

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