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
Oil prices rose, buoyed by government data showing U.S. crude oil and fuel inventories fell last week and by mounting concerns about tighter global supply following the U.S. threat of tariffs on nations buying Venezuelan crude.
The Oil-Dollar pair gained 0.7% in the last session. The Ultimate Oscillator is giving a negative signal.
Support: 68.066 | Resistance: 71.396
GameStop shares were back in action as the company’s move to hoard bitcoin brought retail investors back to their favorite meme stock. The video game retailer’s shares rose over 15.2% after GameStop said it would invest in bitcoin
