ANZ job advertisements in Australia increased to -0.8% in November from the previous -2.2%. This change indicates a slowing decline in job ads, providing some hope for job market improvements.

In related market news, the silver price saw a rise to record highs above $57.50. The RSI suggests it may be overbought, potentially limiting further gains for XAG/USD.

Nzd Usd And Gbp Usd Currency Movements

The NZD/USD remained steady near a one-month high below the mid-0.5700s despite weaker Chinese data. Meanwhile, GBP/USD stayed around 1.3250 amid relief from the UK budget.

China’s manufacturing PMI contracted to 49.9 in November, below the expected 50.5, signalling contraction. The EUR/USD encountered resistance near the 200-day SMA but stayed above 1.1600.

In commodities, gold climbed back to $4,250 as expectations of a Federal Reserve interest rate cut weighed on the US Dollar. However, the top crypto losers at the start of December included Zcash, Starknet, and Ethena, with each experiencing continued declines.

Ripple’s price showed limited movement, trading between $2.15 and $2.30. This narrow range persisted for four consecutive days. The continuing range indicates ongoing market indecision.

The Impact Of The Weak Us Dollar

The market is being driven by one major story right now: the weak US Dollar. We are seeing strong expectations for a Federal Reserve interest rate cut this month, which is lifting other currencies and assets. This makes long positions in pairs like EUR/USD, which is pushing above 1.1600, a primary focus for the coming weeks.

This sentiment is supported by the steady cooling in US inflation we’ve seen since the peaks of 2024, with the latest Core PCE figure coming in at 2.8%. While the labor market is still adding jobs, the pace has moderated to an average of 150,000 per month in the second half of this year, giving the Fed room to ease policy. This data reinforces the view that we should not be fighting the Fed’s dovish turn.

In Australia, the job market shows slight improvement, with ads declining only 0.8% in November compared to a 2.2% drop previously. However, we must be cautious about the Australian dollar’s strength. The weak manufacturing data out of China, a key trading partner, will likely act as a cap on any significant rallies.

The sluggish 0.2% GDP growth we saw in the third quarter of 2025 confirms this cautious outlook for Australia. This slow growth environment makes it hard to justify aggressive long positions on the Aussie dollar, even with a weak greenback. We should consider strategies like call spreads on the AUD/USD to limit risk.

For those looking to trade this weak dollar theme directly, commodities are the place to be. We’ve seen Silver hit a record high above $57.50, and Gold is pushing past $4,250. Using call options on gold and silver ETFs could be a way to gain upside exposure while managing risk against a potential short-term pullback.

A clear divergence trade is also setting up against the Japanese Yen. While we expect the Fed to cut rates, the Bank of Japan is openly discussing rate hikes. This policy split suggests that shorting the USD/JPY pair, perhaps through futures or put options, could be a compelling trade in the coming weeks.

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