The S&P 500 looks set to round up its third straight week of gains, as extreme bearish bets continue to unwind on dovish recalibration of Federal Reserve (Fed) rate expectations. Currently, the index stands just 2.3% away from its year-to-date high, as we continue to tread in the seasonally stronger period of the year.
Dips in US Treasury yields continue to keep the US dollar in its weak state, while gold prices attempted to recover, seemingly setting its sight for another retest of the key psychological US$2,000 level. On the other hand, rising economic risks have not been well-received by Brent crude prices lately, which fell to its lowest level since July this year, while a break below its 200-day moving average (MA) provides testament to sellers in control.
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