The Greenback rose to three-day highs amid a strong resurgence of the bid bias, supported by Trump’s threats of further tariffs along with political concerns in France.
Here is what you need to know on Tuesday, December 3:
The US Dollar Index (DXY) advanced past the 106.70 level against the backdrop of mixed US yields across the curve and a widespread sell off in the risk complex. The US labour market takes centre stage with the release of the JOLTs Job Openings for the month of October, seconded by the RCM/TIPP Economic Optimism Index, and the weekly report on US crude oil inventories by the API. In addition, the Fed’s Goolsbee and Kugler are expected to peak.
EUR/USD came under increased selling pressure and broke below 1.0500 in response to rising political unrest in France. The ECB’s Cipollone is due to speak.
GBP/USD mirrored its risky peers and reversed a multi-day positive streak, approaching the 1.2600 region. The BRC Retail Sales Monitor will be the only data release across the Channel.
USD/JPY ended the day with a modest decline following an initial advance to the 150.70 zone. The JGB 10-year Auction will be the only event on the local docket.
AUD/USD made a sharp U-turn and breached the key 0.6500 support to hit new multi-day lows on Monday. Next on the Australian docket will be the Q3 Current Account results, along with the Ai Group Industry Index and the final Judo Bank Services PMI.
WTI could not sustain earlier gains and ended the day near the $68.00 mark per barrel as traders kept assessing the geopolitical scenario as well as the health of the US economy.
Prices of Gold set aside four consecutive days of losses and briefly flirted with the $2,620 mark per troy ounce amid the stronger US Dollar and mixed US yields. Silver prices followed suit and left behind two straight days of gains.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks

EUR/USD jumps back above 1.1000 on renewed US Dollar sell-off
EUR/USD is posting sizeable gains above 1.1000 in early Europe on Monday. EU prepares for retaliatory tariffs and rekindles the global trade war and US recession fears, drowning the US Dollar again aross the board. Traders now look to the EU Sentix and Retail Sales data.

GBP/USD holds recovery gains above 1.2900 amid fresh US Dollar weakness
GBP/USD clings to recovery gains above 1.2900 in European trading on Monday. The pair capitalizes on renewed US Dollar weakness as risk sentiment takes a fresh hit, with European traders hitting their desks. Trump's tariffs-led US recession fears and dovish Fed bets keep the USD undermined.

Gold price rebounds swiftly from multi-week low; lacks follow-through
Gold price reverses an Asian session slide to over a three-week low, though it lacks follow-through. Recession fears continue to weigh on investor sentiment and benefit the safe-haven commodity. Bets for more aggressive Fed rate cuts undermine USD and also lend support to the XAU/USD pair.

Crypto market wipes out $1 billion in liquidation as Asian markets bleed red
The crypto markets continue to decline on Monday, with Bitcoin falling below $78,000. The Asian markets also traded in the red, with Japan’s stock market extending losses to 8.5%, its lowest level since October 2023.

Strategic implications of “Liberation Day”
Liberation Day in the United States came with extremely protectionist and inward-looking tariff policy aimed at just about all U.S. trading partners. In this report, we outline some of the more strategic implications of Liberation Day and developments we will be paying close attention to going forward.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.