The U.S. dollar weakened against major currencies including the yen and euro, while China’s offshore yuan hit a record low, amid trade disputes sparked by President Donald Trump’s sweeping tariffs that have roiled markets for three days.
The Dollar-Yen pair fell 0.9% in the last session after gaining as much as 1.0% during the session. The CCI is giving a positive signal.
Support: 143.48 | Resistance: 149.48
The United States said that 104% duties on imports from China will take effect today, even as the Trump administration moved to quickly start talks with other trading partners targeted by President Donald Trump’s sweeping tariff plan.
The “Magnificent Seven” stocks sank, extending a market rout that has wiped off around $2 trillion from their combined value as investors worry about the financial fallout of U.S. President Donald Trump’s global tariff war. Apple traded around 1-year low.
Shares of Apple crashed 6.3% in the last session. The Ultimate Oscillator is giving a negative signal.
Support: 171.29 | Resistance: 208.94
Investors bought into safe havens such as the dollar, yen and Swiss franc as concerns about a global recession heightened following U.S. President Donald Trump’s sweeping tariffs on trading partners, leading global markets down.
The European Commission proposed counter-tariffs of 25% on a range of U.S. goods on Monday in response to President Donald Trump’s tariffs on steel and aluminium. The tariffs on some goods will come into effect May 16 and others later in the year.
Oil prices plunged to settle at their lowest in three years as China ramped up tariffs on U.S. goods, escalating a trade war that has led investors to price in a higher probability of recession. China, the world’s top oil importer, announced it will impose additional tariffs of 34% on all U.S. goods.
The Oil-Dollar pair plummeted 6.9% in the last session. The Ultimate Oscillator’s is giving a negative signal.
Support: 53.115 | Resistance: 72.016
