Oil prices fell about 2% to a 12-week low on reports OPEC+ will proceed with a planned oil output increase in April and on worries what U.S. tariffs would do to global economic growth and oil demand.
The Oil-Dollar pair plummeted 2.8% in the last session. The ROC is giving a positive signal.
Support: 64.505 | Resistance: 72.425
Global hedge funds sold more stocks than they bought by the largest amount in a year, mainly driven by their bets that stocks will drop, a Goldman Sachs note showed. Goldman Sachs said the gloomy sentiment was spread across all geographic regions, but mainly in North America and part of Asia, and was seen in almost all company sectors
China’s manufacturing activity expanded at the fastest pace in three months in February as new orders and higher purchase volumes led to a solid rise in production, an official factory survey showed. The official purchasing managers’ index rose to 50.2 in February.
Gold prices fell over 1% to end the week as the dollar held close to two-week highs after U.S. inflation data came in line with expectations, suggesting the Federal Reserve may adopt a cautious stance on additional rate cuts.
The Gold dropped 0.6% against the Dollar in the last session. The MACD is giving a negative signal.
Support: 2779.6 | Resistance: 2937.7
General Motors said it would increase its quarterly dividend by 25% and undertake a new $6-billion share buyback program. Shares of the automaker rose about 6%. The quarterly dividend increase from 12 cents to 15 cents a share will take effect with the company’s next planned dividend in April 2025.
Gold prices eased after a recent record rally, while investors looked towards inflation data due later this week and the latest developments on U.S. President Donald Trump’s tariff plans.
The Gold-Dollar pair corrected downwards in the last session, falling 0.1%. According to the Stochastic-RSI, we are in an oversold market.
Support: 2853.9 | Resistance: 2971.7
