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Austan Goolsbee, president of the Federal Reserve Bank of Chicago, said on Friday, November 13, on Ethereum CNBC that if data worsen, the Fed will act more aggressively on rates. The dollar thereby moved to a 19-month peak, gold lost more than 4% over the week.
Over 24 hours, $1.64 billion in leveraged positions were forcibly closed on the crypto market - 513.7% more than the day before. Almost 89% of the amount came from long positions: BTC's drop to $67,770 wiped out those who bet on growth.
On November 12, Binance announced that options on commodity assets (gold contracts, where settlement is in crypto) are switching to the same settlement price methodology that already works for crypto options. The rule applies to contracts expiring on November 23 at 17:00 New York time, i.e. November 24 at 01:00 MSK, and to all subsequent ones.
XAU/USD fell to $3,985 per ounce - the second decline in a row. The trigger is October US inflation: after the report, futures price a Fed rate hike at the December meeting as a done deal.
DXY (dollar index, the dollar's exchange rate against a basket of currencies) reached 103.048 during the Asian session on Thursday - for the first time since early April 2025. In the previous session it gained 0.7% after US inflation came in above forecast.
Glassnode in a report dated November 11 calculated: the volume of the largest stablecoins (coins with an exchange rate pegged to the dollar) shrank by $14.2 billion over 30 days. It only fell more sharply in the bearish 2022.
360X, a platform of the Deutsche Börse group, has launched tokenized versions of all 40 DAX index securities. Siemens or Allianz can now be bought even at night on Sunday, when the Frankfurt exchange is closed.
Goldman Sachs trading division's internal stress indicator moved 8.55 points in two days on a scale of 0 to 10 - something that has never happened in the entire history of calculations. The previous record (7.87 points) had stood since April 16, 2013.
On Wednesday, November 11, by 11:58 Moscow time, silver (XAG/USD) was worth $52.92 per troy ounce versus $51.52 at Tuesday's close. In the European session, the metal rose almost 3%, to around $53.00.
On Tuesday, spot gold plunged almost 3%, to $4017.21 per ounce, after US inflation for October accelerated more than forecast. By 06:03 Moscow time on Wednesday, the metal had recovered part of the decline - $4043.62 per ounce, up 0.3%.
Lorie Logan, president of the Federal Reserve Bank of Dallas, said on November 10 that the Fed may have to raise rates further this winter. For the past few months, the market had been living with the opposite picture - talk of easing.
US October prices rose faster than expected, and the market almost unanimously bet on a Fed rate hike on December 9. The euro lost 0.28% over the day and is trading around 1.1190.
US consumer prices rose 0.4% month-over-month in October versus the expected 0.23-0.3%. Immediately after the release at 16:30 MSK, exchanges forcibly closed roughly $200 million in long positions in crypto; Bitcoin and gold moved lower.
On Tuesday, gold gave back almost all of the previous day's gains - traders took profits, and a Fed official's comments about a possible rate hike in December added pressure.
After a speech by Christopher Waller, a member of the Fed Board of Governors, bets on a December hike jumped from 76.3% to 96.3% within a few hours. Bitcoin fell 1.3% to $74,080, while gold and stocks moved down along with it.
Fed Governor Christopher Waller said on Tuesday, November 10, during the European session: if US core inflation for October comes in around 0.3% month-over-month or higher, December will require a rate hike of a full half percentage point. The October CPI report itself is released the same day.
The US consumer price report is published today at 16:30 Moscow time, but it will not include a year-on-year change. The reason is the US government shutdown a year earlier, because of which some of the data was simply not collected. This was reported by CNBC.
This week, three data blocks come out for the US, and both crypto and tech stocks are already sliding ahead of them: consumer inflation on Tuesday, earnings from AI equipment makers on Thursday, and producer prices on Friday. BTC is trading around $74,322, down 1.85% over the day.
Austin Goolsbee, President of the Federal Reserve Bank of Chicago, said on Monday, November 9, that service price growth has been accelerating for several months. A day before the US inflation data, this is the most inconvenient argument for those expecting a rapid rate cut.
On Monday, November 9, the dollar was the weakest currency among the majors. DXY (the dollar index against a basket of currencies of the US's main trading partners) lost almost 0.4% and dipped to session lows below 102.00.
On Tuesday, the US consumer price report for October is released. The FactSet consensus is plus 0.2% for the month versus 0.6% in September, when annual price growth accelerated to 3.7%, the highest since May.
The People's Bank of China extended its streak of gold purchases for reserves to two years without a break and noticeably increased the volume of purchases precisely during the price pullback.
Brent crude is trading around $96.45 per barrel on Monday versus Friday's close of $98.32. Over the past week, the futures lost 16% - more than in any week since the start of the coronavirus pandemic.
Microsoft abandons its agreement with Oracle to lease computing capacity for artificial intelligence. This concerns two of the top ten US companies by market capitalization, and both are part of the S&P 500 and Nasdaq 100.
