Core Viewpoint - The Federal Reserve officials express a preference for maintaining a restrictive monetary policy stance to combat persistent inflation, with some dissenting against recent interest rate cuts due to ongoing economic momentum and inflation concerns [1][2][4][10]. Group 1: Federal Reserve Officials' Stance - Cleveland Fed President Beth Hammack advocates for a slightly more restrictive stance to exert pressure on inflation [1]. - Kansas City Fed President Jeff Schmid dissents against the FOMC's decision to cut interest rates, preferring a modestly restrictive policy due to high inflation and economic momentum [1][4]. - Chicago Fed President Austan Goolsbee also voted against the rate cut, emphasizing the need for more information before making such decisions given the prolonged inflation above target [2][4]. Group 2: Market Reactions and Economic Indicators - The dollar index rose by 0.02% on Friday, supported by hawkish comments from Fed officials and increased T-note yields [4]. - The markets are currently pricing a 24% chance of a 25 basis point cut in the fed funds target range at the upcoming FOMC meeting [5]. - The euro gained 0.06% against the dollar, influenced by divergent central bank policies, with expectations that the Fed will continue cutting rates while the ECB has concluded its rate-cutting campaign [6]. Group 3: Precious Metals Market - Gold prices reached a 7-week high, while silver experienced mixed results, influenced by a stronger dollar and higher T-note yields [9][10]. - Central bank demand for gold remains strong, with China's PBOC increasing its reserves by 30,000 ounces to 74.1 million troy ounces in November, marking the thirteenth consecutive month of increases [12]. - Concerns over tight Chinese silver inventories have emerged, with stocks in Shanghai Futures Exchange warehouses falling to the lowest level in 10 years [13].

Group 1 - The dollar index rose by +0.17% after recovering from a 5-week low, driven by a drop in US weekly initial unemployment claims to a 3-year low, indicating a stronger labor market [1][4] - The dollar initially fell due to a rally in the yen and expectations of a Fed interest rate cut at the upcoming FOMC meeting [2][5] - The markets are pricing in a 91% chance of a 25 basis point cut in the fed funds target range at the next FOMC meeting on December 9-10 [5] Group 2 - US November Challenger job cuts increased by +23.5% year-on-year to 71,321, which is the highest for November in three years, but lower than the expected +48.0% [4] - US weekly initial unemployment claims unexpectedly fell by -27,000 to a 3-year low of 191,000, contrasting with expectations of an increase to 220,000 [4] - US September factory orders rose by +0.2% month-on-month, slightly below the expected +0.3% [4] Group 3 - President Trump plans to announce his selection for the new Fed Chair in early 2026, with Kevin Hassett seen as a likely candidate, which could be bearish for the dollar due to his dovish stance [3] - Comments from ECB Executive Board member Cipollone indicated that the Eurozone economy remains resilient, with balanced risks around inflation [6]

Economic Policy - A "new dollar" would not reduce costs, but could make prices appear less intimidating [1] - The article questions why America cannot simplify its price tags like other countries [1]

Currency Concerns - South Korea's central bank chief is less concerned about the won approaching 1,500 per dollar [1] Investment Trends - The central bank chief is concerned about young Koreans heavily investing in overseas stocks [1]

Market Performance & Investment Strategy - Many asset classes performed well year-to-date, making it a good year for US investors, with even stronger performance for overseas investments [2] - The weakness of the dollar contributed to the strong performance of overseas investments, although the dollar has recovered somewhat recently [3] - Morningstar anticipates the dollar will likely underperform other global currencies heading into 2026, suggesting investors should maintain meaningful non-US exposure in their portfolios [5][6][7] AI & Technology Sector - The Morningstar US Market Index shows about 30% of the index has stocks linked to an AI-related trade [9] - Overvaluation is emerging in the tech and telecom sectors [10] - Despite aggregate overvaluation in the AI trade, some large companies like Nvidia and Alphabet are considered slightly undervalued by analysts [11][12] - Nvidia is rated four stars with a fair value of approximately 240 USD [11] Corporate Bonds & Financial Health - Bonds issued by large hyperscalers are in high demand due to their strong cash flow, and investors are confident in their ability to repay debts [15][16] - These bonds trade at a slight premium relative to treasuries, reflecting investor confidence [16] Federal Reserve & Market Outlook - A Federal Reserve rate cut is anticipated heading into next year, but valuation is considered the key factor defining the market [18] - The ability of companies with premium valuations to deliver promised growth will be crucial [18]

RT Mayne (@Tradermayne)Big spot for the $DXY here.I'm of the belief that we are due for a large deflationary rally on the dollar.Question is whether or not that low is already in. https://t.co/xHfU3XRfcl ...

Market Analysis - Goldman Sachs strategists suggest the correlation between the US dollar and CBOE's Volatility Index is more significant than its correlation with US stock levels [1]

Structural forces that kept the dollar high, US borrowing costs low and Treasury sanctions powerful are reversing. The consequences will be far-reaching https://t.co/mUoHOPcIP5 ...

货币政策 - 台湾中央银行需要为其货币（新台币）建立长期路径 [1] 经济影响 - 普通民众最终将能够享受非凡出口奇迹的更多成果 [1]

Economic Dependence - The West's living standards are entirely dependent upon continued absolute dominance [1] - This dominance is propped up by the issuance of the global reserve currency, namely the dollar [1] Zero-Sum Thinking - Interpreting the chart in a zero-sum way is mentioned [1] - It is argued that everyone's share can increase in absolute terms [1]