The U.S. dollar fell across the board, giving up the previous week’s gains, as markets weighed the outlook for President Donald Trump’s tariff policy and its potential to hurt growth and stoke inflation.
The Oil-Dollar pair rose 1.4% following a 1.6% intra-session dip. The Stochastic indicator is giving a positive signal.
Support: 59.722 | Resistance: 65.332
Gold rose to its highest in over three weeks, as a weakening dollar and a combination of geopolitical risks and economic uncertainty fuelled investor demand for safe-haven assets. U.S. gold futures settled 2.5% higher.
The S&P 500 index closed higher as investors were still optimistic over trade talks between the United States and its trading partners despite President Donald Trump’s latest salvo to double tariffs on imported steel and aluminum.
A U.S. appeals court reinstated President Donald Trump’s sweeping tariffs, leaving Wall Street with no clear direction a day after most of the tariffs were blocked by a trade court, a move that had given markets a brief boost.
US crypto mining stocks tumbled after minutes published by the Federal Reserve signaled its growing uncertainty about the country’s economic outlook. The crypto market remained unscathed, despite the stock drops among crypto miners.
Dell Technologies raised its annual profit forecast, signaling growing demand for its AI-powered servers that are equipped with Nvidia’s powerful chips, sending the computer hardware maker’s shares up 10% in extended trading.
