Oil prices eased after government data showed U.S. crude oil stockpiles rose unexpectedly last week, prompting investor concerns of excess supplies. Both benchmarks traded close to their highest in two weeks in the previous session, lifted by a temporary cut in U.S.-China tariffs.
The S&P 500 closed slightly higher after flitting between gains and losses during the session as investors waited for the next batch of economic data after a robust start to the week spurred by soft inflation data and a U.S.-China tariff truce.
Gold prices dropped more than 2%, hitting an over one-month low, as rising trade optimism boosted risk appetite, leading investors to shift away from bullion. U.S. gold futures settled 1.8% lower.
U.S. President Donald Trump repeated his call for the Federal Reserve to lower interest rates, saying prices for gas, groceries and “practically everything else” are down. “The FED must lower the rate, like Europe and China have done,” Trump said.
Crude oil futures climbed, lifted by a temporary cut in U.S.-China tariffs and a better-than-expected inflation report. The two benchmarks rose strongly in the previous session after the U.S. and China agreed on sharp reductions to their import tariffs for at least 90 days.
The last session saw the Oil rise 0.9% against the Dollar. The CCI is giving a positive signal.
Support: 57.846 | Resistance: 65.466
Bitcoin has seen its largest 30-day illiquid supply increase of the current bull market. Illiquid supply now stands at 14 million BTC, more than ever before. Whales are still accumulating as the price returns to six figures.
After a 1.1% dip during the last session, the Bitcoin-Dollar pair closed 2.0% in the red. The CCI is giving a positive signal.
Support: 95222 | Resistance: 109592
