U.S. retail sales rebounded marginally in February as consumers pulled back on discretionary spending, reinforcing the growing uncertainty over the economy against the backdrop of tariffs and mass firings of federal government workers.
Cryptocurrency exchange-traded products continued seeing massive selling last week, recording the fifth week of outflows in a row, with $1.7 billion leaving the market. After seeing slightly softened outflows of $876 million in the previous week, crypto ETP liquidations accelerated during the past trading week, bringing the total five-week outflows to $6.4 billion
British stocks closed higher, driven by energy and mining shares, while investors geared up for a slew of central bank decisions this week including from the Bank of England. The benchmark FTSE 100 index rose 0.6%.
Gold broke through the key $3,000 barrier on Friday for the first time as investors piled on to a historic rally in the safe-haven asset to seek cover from economic uncertainty sparked by U.S. President Donald Trump’s tariff war.
The Gold-Dollar pair saw a minor dip of 0.1% in the last session. The ROC’s is giving a negative signal.
Support: 2946.7 | Resistance: 3026.5
U.S. equities followed European stocks higher on Friday to end a bumpy week on a positive note, although safe-haven gold hit a record high with investors still showing some signs of anxiety about the economic impact of tariffs. S&P 500 was 10% down compared to it’s February high
The euro rose on Friday after German parties agreed on a fiscal deal that could boost defence spending and revive growth in Europe’s largest economy. The dollar weakened against the euro but rose against the Swiss franc and the yen, underpinned by the likelihood the U.S. government will avert a shutdown.
The Euro got a slight bump of 0.2% against the Dollar in the last session. According to the Williams indicator, we are in an overbought market.
Support: 1.0752 | Resistance: 1.1
