(MENAFN- DailyFX (IG)) ​​​Macro update ​Asian markets steady after turbulent month:

​Regional equities firmed at the end of November as renewed expectations of a US rate cut offered support, even though markets remain sharply lower on the month.

​Fed cut expectations ramp up:

​Federal Reserve (Fed) funds futures now assign an 85% probability to a December rate cut, buoyed by dovish comments from senior policymakers despite data gaps caused by the prolonged US government shutdown.

​CME outage rattles futures trading:

​A technical issue at CME Group disrupted currency, commodity and Treasury futures, injecting volatility into an otherwise quiet session with US markets operating on shortened Thanksgiving hours.

​Treasuries extend their rally:

​Government bonds looked set for a fourth straight month of gains as traders priced in imminent easing, while the US dollar headed for its weakest week since July.

​BoJ hike speculation rises:

​Stronger-than-expected Tokyo inflation kept alive expectations of a potential Bank of Japan (BoJ) rate increase as early as next month, with the Japanese yen stabilising after touching a 10-month low.

​Commodities mixed:

​Gold pushed above $4,180.00 an ounce, up 4.5% for the month, while oil gained on the day but remained on track for a fourth consecutive monthly decline.

​Dow Jones rally likely to continue

​The Dow Jones Industrial Average swiftly reversed its short-term downtrend last week and has been surging higher over the past four straight days, aiming for new record highs.

​The next upside target is the late October high at 47,718 while minor support may be spotted around the 21 October high at 47,125.

Dow Jones daily candlestick chart Source: TradingView ​EUR/JPY capped by resistance

EUR/JPY is seen coming off the ¥181.50 region which has capped the upside these past few days, ahead of the multi-decade high at ¥182.00, hit on the 20 November.

​It now weighs on the one-month uptrend line at ¥180.98, a slip through which looks probable and would likely push the 21 November low at ¥179.78 to the fore.

​While above this level, the short-term uptrend remains intact, though.

​A rise and daily chart close above the ¥182.00 November peak would engage the (synthetic) June 1972 low at ¥182.47.

EUR/JPY daily candlestick chart Source: TradingView ​Natural gas futures flirt with November peak

​US natural gas futures continue to bang against resistance made up of its 13, 21 and 25 November peaks at $416.30-to-$419.00. If bettered, the $485.00 October 2021 high may be next in line.

​Support below the uptrend line at $408.00 may be found at the 25 November $392.80 low.

Natural gas daily candlestick chart Source: TradingView Important to know

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