The EUR/USD climbed to a ten-day peak as expectations grew strongly that the Fed could opt for an interest rate cut on December 10th.
The British pound pushed to a near one-month high after the UK budget was received with relief by the markets, which had feared sharper tax increases.
The USD/JPY weakened amid rising expectations that the Bank of Japan could decide to hike interest rates in December, despite government opposition to such a move.
Gold prices climbed to a two-week high after the markets saw mixed US data as giving room for the Fed rate cut in December. In geopolitics, a new US peace plan was broadly accepted by Ukraine, as Russia showed willingness to continue talks.
US S&P 500 stocks moved sharply higher as optimism returned ahead of the Black holiday weekend. Consumer demand typically rises in the holiday season, and stocks like Apple and Walmart hit record highs while Amazon also climbed over the week.
Oil prices increased to a one-week high just ahead of Sunday’s OPEC+ meeting, which is expected to confirm that there will be no increase in output in January.