From Stocks to Crypto: This Week’s Market Movement - 11.10

The general move away from risk globally helped the live dollar index climb higher. Traders are now less sure that the U.S. central bank will cut interest rates soon, which boosts the dollar's value.

• EUR/USD: The Euro held mostly steady around the 1.1550–1.1600 range, recovering slightly after an earlier drop to around 1.1468. However, the strong U.S. dollar kept its price in check.
• GBP/USD: The Pound stayed near a seven-month low. Concerns over the UK's finances and the central bank's tight money policy weighed on its value.
• USD/JPY: The Japanese Yen, often seen as a safe place for money, got a small boost as global worries increased. However, the very strong U.S. dollar prevented the pair from falling significantly.
• AUD/USD: The Australian dollar weakened this week. When investors are fearful, the Aussie dollar often suffers because it's tied closely to global trade and commodity exports.

The U.S. and world stock markets pulled back this week as worries about stock prices being too high and a dip in risk-taking took hold.

• The S&P 500Index dropped, mainly pulled down by tech companies.
• The Nasdaq Index, which is heavily focused on technology, was the hardest hit, falling significantly as analysts flagged that many U.S. growth stocks looked overvalued.
• The Dow Jones Index managed a small gain in a recent bounce, but the market's underlying strength remains weak.
• In Asia, the Nikkei Index and the Hang Seng Index both fell due to global risk avoidance and their own local economic issues.
• The Australian Stock Index followed the regional trend, with companies in mining and commodities showing mixed results.

Brent crude futures settled around $63.65 a barrel, a slight drop of about 1.67% from the previous week.

WTI Crude (the U.S. oil benchmark) also saw a drop, trading around $59.67 per barrel, down about 2.16% for the week.

Oil prices are being influenced by increasing output from the OPEC+ group and other producers like the U.S., which suggests a possible oversupply, and lingering supply concerns due to U.S. restrictions on Russian oil firms.

The crypto market faced significant selling pressure, losing almost all the value it had gained this year in a little over a month.

• Bitcoin (BTCUSD) is trading around $104,692, after falling more than 20% from its recent peak, which is commonly seen as entering a technical bear market.
• Ethereum (ETHUSD) also saw a major drop, trading around $3,473.
• The total market value of all digital currencies fell by about 20% from its high last month, indicating that investors are pulling back their cash.