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The dollar index (DXY) rose by 0.39% to a 1.5-week high, driven by a weakening yen which fell to a 9.75-month low amid concerns over a substantial increase in Japan’s debt burden due to a proposed ¥20 trillion ($129 billion) stimulus package. The US August trade deficit narrowed to $59.6 billion from $78.2 billion in July, exceeding expectations of $60.4 billion.
US MBA mortgage applications decreased by 5.2% for the week ending November 14, with the average 30-year fixed-rate mortgage rising to 6.37%. Meanwhile, Japan’s core machine orders increased by 4.2% month-over-month in September, surpassing the anticipated 2.0% growth.
In commodities, December COMEX gold rose by $63.10 (+1.55%) while silver increased by $1.529 (+3.03%). Central bank demand for gold remains strong, with China’s PBOC reserves increasing to 74.09 million troy ounces in October.
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