
JPMorgan disclosed a crypto portfolio worth $981 million: more than half is in BlackRock's Bitcoin ETF
The bank reported to the SEC for Q3: Bitcoin ETFs, Coinbase and Strategy shares. Including Robinhood and miners, the total exceeds $1 billion.
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The bank reported to the SEC for Q3: Bitcoin ETFs, Coinbase and Strategy shares. Including Robinhood and miners, the total exceeds $1 billion.

XAU/USD is closing the week down almost 4.5% and sits near $3,879 - the bottom in 13 months. Pressure comes from US Treasury yields at 5.15% and the dollar index at a 19-month high.

The pair reached 159.95 - right up against the round 160 mark and the highest since September 2. Japanese Finance Ministry currency official Atsushi Mimura said markets should not forget about intervention risks, and the rate pulled back from that zone.

Japanese producer output prices rose 7.1% year-on-year in October instead of the expected 6.5%. This increases pressure on the Bank of Japan to raise the rate on December 17-18 - the third time in a calendar year, something that has not happened since 1989.

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.

October inflation in the US came in above forecast, and the government bond market responded with a sell-off. The DXY dollar index stands at 102.22 - a high since October 28, and the market considers a Fed rate hike on December 9 almost a done deal: 91.9% according to CME FedWatch versus 84% the day before.

The US Department of Labor submitted a draft rule that opens 401(k) plans to alternative assets, including cryptocurrencies. On Thursday, November 5, the document went to the White House for mandatory review - this is the stage before publication.

The October US labor market report came in more than double expectations, and the probability of a Fed rate hike at the December 9 meeting rose to 73%. US Treasury yields moved higher, and the dollar strengthened.

The US publishes its October employment report - the main release of the week for the dollar. Consensus expects +65 thousand non-farm payrolls after a weak +29 thousand a month earlier, and half an hour later the preliminary Michigan index is released.

On Thursday XAU/USD gained about 1%: it rebounded from $4,057 and settled above $4,100 amid the sell-off in US equities. On Friday morning the gains did not hold - the dollar recovered its losses, and the metal slipped back below $4,100 ahead of the release of the US jobs report.

On Thursday, November 5, the Japanese yen became the strongest currency of the day: money fled from US tech stocks into it, and the Bank of Japan's minutes added to expectations of a December rate hike.

Thomas Barkin, president of the Federal Reserve Bank of Richmond, said on Thursday, November 5, that inflation remains too high and for the Fed it is risk number one. He called the policy path clear: the only debate is about the pace of rate increases, and a gradual step "makes sense."

On November 5 it became known that Apple is preparing a corporate bond offering and will direct the raised funds toward capital expenditures in artificial intelligence. The size of the deal has not yet been disclosed.

The rate was raised by 25 basis points, from 3.75% to 4%, exactly as the market expected. In the minutes, the Bank of England stated directly: further increases will most likely be needed, because inflation could approach 5% by mid-2027.

At 03:00 Moscow time on November 5, the Bank of Japan published the minutes of the September meeting: board members agreed that the rate should continue to be raised. The yen is strengthening for the second day in a row, USD/JPY slid to 158.25, EUR/JPY to 177.90.

XAU/USD gained more than 3.5% on the day - the strongest daily gain since mid-August - and in the Asian session on Thursday rose above $4100, to $4135 per ounce. The acceleration began after the Democrats took both the Senate and the House of Representatives in the US midterm elections.

The ADP employment report for October was released on November 4 at 16:15 MSK: +86K private sector jobs versus the expected +69K and +90K the month before.

The DXY dollar index fell to 101.40 (-0.44% for the day) after the Democrats took both chambers of Congress. Yet the yen failed to capitalize on this: USD/JPY holds near 158.32, having lost just 0.24%.

The issuer of the USDC stablecoin (a coin with an exchange rate pegged to the dollar) laid off about 5% of its employees and spent $9.1 million on it, even though net profit for the quarter grew. The reduction is mentioned in a footnote to the third-quarter report.

As of 12:31 Moscow time on November 4, silver (XAG/USD) is trading at $52.01 per troy ounce versus $49.67 at Tuesday's close. That is +4.71% in one session, according to FXStreet.

In October, the comparison site PropFirmMatch admitted that clicks on company profiles and promo codes opened their websites through its affiliate links. Three prop firms terminated the partnership, and the head of Topstep revealed the price of a listing - $10,000 a month.

On the morning of November 4, gold traded around $3,930 per ounce, recovering from a drop to lows last seen in September 2025. The reason is the collapse of the dollar after the first results of the midterm congressional elections held on November 3.

The US Department of Labor published the JOLTS report for September - the number of job openings in the labor market. The actual figure came in almost 400 thousand above the forecast, and the previous value was revised upward.

On US congressional voting day, US index futures diverged: Dow Jones -0.5%, S&P 500 -0.15%, Nasdaq 100 flat. The market holds positions ahead of the first vote count results.