China Consumer Price Index (MoM) meets expectations (0%) in October

TradingKey - On November 12, Eastern Time, Nvidia (NVDA) shares experienced sharp volatility following the sudden resignation of CEO Jensen Huang. NVDA gapped down sharply at the open, touching an intraday low of $148.80 and falling roughly 14% from the previous trading day at one point, before staging a notable rebound to close at $166.19, down 4.34%. Full-day trading volume reached approximately 748 million shares, expanding substantially compared to recent average levels.

TradingKey - As of the Asian trading session on November 13, Bitcoin (BTC) extended its decline, briefly falling below $70,000 intraday to reach a low of $69,150, marking a nearly three-month low. Higher-than-expected U.S. inflation data, rising expectations of a December Federal Reserve rate hike, and persistent net outflows from spot Bitcoin ETFs have collectively constituted the primary headwinds facing the cryptocurrency market recently.

TradingKey - As of the Asian session on Friday (November 13), gold prices (XAUUSD) rebounded intraday following a sharp drop on Thursday, with the latest price trading near $3,910. On Thursday, gold tumbled 2.76% to close at $3,877.41, confirming a breakdown below the $3,900 mark and touching a low of $3,852.27, hitting a fresh nearly one-year low. The decline in gold was primarily driven by renewed Middle East tensions pushing up international oil prices, coupled with persistently elevated U.S. inflationary pressures, which continue to weigh on gold's short-term trajectory.

On November 12, Eastern Time, spot gold (XAUUSD) dropped more than 3% intraday to $3,864 per ounce, hitting its lowest level since October of last year. Higher-than-expected U.S. inflation data, coupled with successive hawkish signals from Federal Reserve officials, drove the U.S. dollar higher and kept investment demand for gold under sustained pressure.

TradingKey - On Friday (November 13) Eastern Time, the U.S. will release the October Producer Price Index (PPI). Following October's CPI once again exceeding expectations, the market will look to the PPI to further assess whether price pressures on the U.S. production side are spreading, as well as the likelihood of the Federal Reserve raising interest rates by 25 basis points or 50 basis points in December.