The U.S. dollar weakened anew, weighed down in part by more cautious remarks about the economy by Federal Reserve officials, even as traders looked ahead to upcoming U.S. talks with Japan that could include discussions on currencies as part of a trade deal.
The British benchmark index FTSE 100 closed at a two-month high, buoyed by strong corporate earnings, while investors awaited updates on trade-related developments. The FTSE 100 rose over 0.9%, with a majority of the firms listed in the index trading in green.
Gold prices drifted higher, steered by a softer dollar and safe-haven demand after Moody’s downgraded the U.S. government’s credit rating. U.S. gold futures settled 1.5% higher.
The Gold-Dollar price remained largely unchanged in the last session. The Stochastic indicator is giving a positive signal.
Support: 3166.7 | Resistance: 3296
U.S. stocks finished near the unchanged mark with market sentiment weakened by the downgrade of the federal government’s perfect sovereign credit rating owing to its huge debt profile. Moody’s slashed the U.S. sovereign credit rating citing the government’s $36 trillion outstanding debt and interest.
Tether, the $151 billion stablecoin issuance giant, has surpassed Germany in United States Treasury bill holdings, showcasing the benefits of a diversified reserve strategy that has helped the firm navigate the volatility of the cryptocurrency market.
Oil settled higher on Friday, notching a second straight week of gains on easing U.S.-China trade tensions, although prices were held back by expectations of higher supply from Iran and OPEC+.
