Oil prices ticked up after Israel and Lebanese armed group Hezbollah traded accusations that their ceasefire had been violated, and as Israeli tanks fired on south Lebanon. OPEC+ also delayed by a few days a meeting likely to extend production cuts.
The last session saw the Oil gain 0.3% against the Dollar. The Stochastic indicator is giving a negative signal.
Support: 67.269 | Resistance: 70.33
November was a month of clear winners and losers from Trump’s U.S. election victory. Trump trades, punishing tariff-sensitive assets from European exporters to Mexico’s peso and driving investment towards U.S. stocks and the dollar, proved successful. Wall Street has rallied, the dollar gained 2% against rival major currencies and bitcoin surged.
The euro dipped against the dollar as traders reined in bets of more interest rate cuts by the European Central Bank, while broader currency moves were muted in U.S. holiday-thinned trading.
The Euro-Dollar pair traded sideways in the last session. The ROC is giving a positive signal.
Support: 1.0496 | Resistance: 1.0605
Shares of Dell and HP fell after the personal computer makers issued forecasts that cast doubt on a market recovery driven by artificial intelligence-enabled PCs. Dell tumbled 11%, with the company set to shed about $11 billion from its $99.50 billion market value, after it forecast quarterly revenue below estimates.
The Canadian dollar extended its recovery from a 4.5 year low against its U.S. counterpart as investors bet on Canada avoiding threatened U.S. trade tariffs through negotiation and looked ahead to domestic GDP data.
U.S. consumer spending increased slightly more than expected in October, suggesting the economy retained much of its solid growth momentum early in the fourth quarter, but progress on lowering inflation appears to have stalled in recent months.
