European stocks settled higher, bouncing from losses in the previous session as investors focussed on upcoming interest rate cuts and a key U.S. inflation report later this week. The continent-wide STOXX 600 index was up 0.6%, with the automobiles and parts sector among top gainers with 1.1% jump
The British pound nudged down to a one-month low on the dollar, as markets gradually reassess the different interest rate paths of the Federal Reserve and Bank of England.
The Pound dipped a slight 0.1% against the Dollar in the last session. The Williams indicator indicates an oversold market.
Support: 1.301 | Resistance: 1.3154
Gold prices fell over 1% and were on track for their biggest drop on a percentage basis in 1.5 months as recent U.S. employment data lowered expectations for a bigger rate cut, while markets awaited minutes of the U.S. Federal Reserve’s latest policy meeting for fresh signals.
The Gold fell against the Dollar in the last trading session. The ROC is giving a negative signal.
Support: 2624.8561 | Resistance: 2669.2661
The S&P 500 and Nasdaq Composite rose, recouping some of the previous session’s losses, as investors shifted attention to upcoming third-quarter earnings and inflation data which may offer the next clues for how interest rate cuts will unfold
The Canadian dollar weakened to a seven-week low against its U.S. counterpart on Tuesday as the price of oil fell 4% and investors reassessed the outlook for Federal Reserve interest rate cuts.
Oil prices rose more than 3%, with Brent surpassing $80 per barrel for the first time since August, as the increased risk of a region-wide Middle East war jolted investors out of record bearish positions amassed last month.
The Oil-Dollar pair exploded 4.5% in the last session. The CCI indicates an overbought market.
Support: 72.8667 | Resistance: 74.2667
