, The US dollar records declines of more than 0.70% in the middle of the European session’s trading in the opening session of the week today, Monday, November 28th, when it traded at 105.50 levels, after it tested 106.40 levels at the beginning of the Asian session, to lose all its gains, ignoring its status as one of the most important safe-haven currencies amid a state of distancing from high-value assets.

The high risks in the markets resulting from the escalation of the situation in China and the rise in fears of a slowdown in growth.

And we had witnessed protests in the second largest economy in the world (China) yesterday, Sunday, with the rise in cases of Covid 19, and thus the rise in strict restrictions from the Chinese government, which raised market concerns about slowing growth in the Chinese economy, which formed support for safe haven currencies, led by the US dollar. And the Japanese yen early Asian session.

With the beginning of the European session, and in the first session after the Thanksgiving holiday and the lack of liquidity associated with the markets, the US dollar began to decline, ignoring these warnings, affected by the high expectations of the markets that the US Federal Reserve will slow down in tightening monetary policy soon, after almost confirming this theory in the US Federal Reserve minutes last week.

The futures markets, according to the Fed Watch tool from CME, are almost certainly pricing in the US Federal Reserve’s rate hike by 50 basis points at its next meeting on December 14, after inflation declined, according to the last reading in October, to 7.7%, which puts pressure on the US dollar.

The markets are looking forward to many economic data during the current week’s sessions, led by the US labor market figures (NFP) by the end of the week, Friday, amid expectations that the economy will add 200,000 jobs in November, and the unemployment rate will stabilize at 3.7%, preceded by one session of the Fed’s favorite inflation indicator represented in consumer spending (PCE), which It will be released Thursday to reflect the extent of the decline in inflation as the annualized index is estimated to have fallen to 6.1% in November

The euro against the US dollar recorded increases of more than 90 points, by trading at 1.0472 levels, and more than 130 points from its lowest levels during the session, benefiting from the declines of the US dollar, in addition to the optimistic statements of the monetary policy maker of the European Central Bank and the governor of the German Federal Bank, Claes Nott, Saba today, Monday, who indicated that he is not The Eurozone is sure to enter a recession after the latest economic growth figures show an upward trend.