Goldman Sachs raised the probability of a U.S. recession to 35% from 20% and said it expects more rate cuts by the Fed, as Trump’s tariffs roil the global economy and upend financial markets. The brokerage also lowered the world’s largest economy’s GDP growth forecast for 2025 to 1.5% from 2.0%.
Ethereum’s native token, Ether has lost almost half its value two months after Eric Trump, son of US President Donald Trump, told his 5.7 million followers that it was a “great time” to add the biggest altcoin to their portfolios. Ether was trading for as low as $1,820, down approximately 40% since Eric Trump’s bullish tweet.
A rocky U.S. stock market will be tested in the coming week by a pivotal deadline for President Donald Trump’s tariff plans and an employment report that could reveal a slowing economy. The S&P 500 posted a weekly loss, selling off on Friday after data pointed to underlying price pressures.
The dollar weakened on Friday on growth concerns ahead of a planned announcement next week by U.S. President Donald Trump on reciprocal tariffs, with the Japanese yen benefiting from safe haven flows as stocks tumbled and Treasury yields fell.
Gold prices surged to a record high on Friday, as investors flocked to the safe-haven asset amid fears of a global trade war triggered by U.S. President Donald Trump’s latest tariffs.
The Gold-Dollar pair rose 0.9% in the last session. The CCI indicates an overbought market.
Support: 3029.9 | Resistance: 3128.9
The U.S. dollar gained against the euro and yen as traders mulled whether tariffs planned by U.S. President Donald Trump to be announced next week will be less onerous than feared. The British pound, meanwhile, fell to a two-week low on cooler inflation.
The last session saw the Euro fall 0.3% against the Dollar. The MACD is giving a positive signal.
Support: 1.067 | Resistance: 1.0847
