The dollar fell and sterling rose to its highest in more than two years on Friday after Federal Reserve Chair Jerome Powell gave an unambiguous signal that the long-anticipated U.S. interest rate cut would come next month.
The Pound-Dollar pair traded sideways in the last session. According to the Stochastic-RSI, we are in an overbought market.
Support: 1.3029 | Resistance: 1.3322
The rally in U.S. stocks faces an important test next week with earnings from chipmaking giant Nvidia, whose blistering run has powered markets throughout 2024. The S&P 500 has pared a sharp drop it suffered after U.S. economic worries contributed to a sell-off at the beginning of the month.
The last session saw Oracle shares gain 1.0%. The MACD is giving a positive signal.
Support: 138.0633 | Resistance: 140.8967
The S&P 500 and the Nasdaq edged up as a sharp downward revision in U.S. jobs data for the year ended March 2024 indicated a slowdown in the labor market, propping up hopes the Federal Reserve would cut interest rates next month.
BlackRock’s Ether exchange-traded fund has reached approximately $1 billion in net inflows, underscoring its lead among rival ETFs. The iShares Ethereum Trust has pulled in $992 million in net inflows, putting the fund on track to surpass the $1-billion mark imminently.
Gold prices extended their record run, holding firm above the key $2,500 level, driven by a weaker dollar and growing investor confidence that the Federal Reserve will likely cut interest rates in September.
The Gold-Dollar pair rose 0.4% in the last session. The Stochastic indicator is giving a positive signal.
XAU/USD gained 0.4% in the last session.
The Stochastic indicator is currently in positive territory.
Support: 2475.4513 | Resistance: 2524.6813
