Oil prices edged slightly higher, helped by weakness in the dollar but capped by mounting concerns over a U.S. slowdown and the impact of tariffs on global economic growth.
The Oil-Dollar pair gained 1.0% in the last session after rising as much as 2.0% during the session. The Stochastic indicator is giving a negative signal.
Support: 63.372 | Resistance: 68.772
Euro hit a new four-month peak against the U.S. currency on hopes of a German defence spending deal.
The last session saw the Euro rise 0.8% against the Dollar. According to the Ultimate Oscillator, we are in an overbought market.
Support: 1.0749 | Resistance: 1.1085
The Canadian dollar weakened against its U.S. counterpart as investors bet that the Bank of Canada would continue its easing campaign this week to support an economy threatened by U.S. trade tariffs.
The British benchmark index fell to a near five-week low, tracking a global equity selloff as worries about economic growth and uncertainties around U.S. tariffs continued to keep investors on edge.
U.S. stocks plunged as relentless tariff wrangling and mounting anxieties arising from the chaos in Washington gave rise to fears that the U.S. economy could be careening into recession. The tech-loaded Nasdaq suffered the most, tanking 4.2%
A critical inflation report in the coming week could further rattle an increasingly tumultuous U.S. stock market, with investors worried about an economic growth slowdown and President Donald Trump’s tariffs. Despite a gain on Friday, the benchmark S&P 500 marked its worst week in six months.
