A week of wild market swings has investors looking ahead to inflation data, corporate earnings and presidential polls for signals that could soothe a recent outbreak of turbulence in U.S. stocks. U.S. stock volatility has surged this month as a run of alarming data coincided with the unwinding of a massive, yen-fueled carry trade to deal equities their worst selloff of the year.
USD was off a one-week high, capping off a turbulent week as traders digested a drop in U.S. jobless claims and the prospect of a looming economic downturn. USD was down against the Japanese yen following a three-day rebound, as firmer-than-expected employment data spurred a paring back in bets for Federal Reserve interest rate cuts later this year.
Gold prices held steady on Friday after a sharp rise in the previous session, bolstered by a dip in U.S. Treasury yields, as investors grew confident that the Federal Reserve would lower interest rates in September.
The Gold got a slight bump of 0.2% against the Dollar in the last session. The ROC is giving a positive signal.
The Gold-Dollar pair gained a moderate 0.2% in the last session.
The ROC is currently in positive territory.
Support: 2364.6447 | Resistance: 2458.8487
U.S. stocks were lower in choppy trading, rising early with technology shares and then falling in tandem with them as investor jitters were stoked by weak demand in a 10-year Treasury auction. S&P500 was down 0.45%.
Oil prices gained more than 2%, bouncing back from multi-month lows, after data showed a bigger-than-expected draw in U.S. crude stockpiles, even as worries about weak oil demand in China persisted.
The Oil-Dollar pair skyrocketed 3.5% in the last session. The Williams indicator is giving a positive signal.
WTI/USD skyrocketed 3.5% in the last session.
The Williams indicator is currently in the positive zone.
Support: 71.2833 | Resistance: 75.9633
Heavyweight companies sold off as U.S. recession fears and Berkshire Hathaway’s sale of half of its stake in the iPhone maker further deflated a months-long rally fueled by optimism about AI. Apple, Tesla, Alphabet and Amazon each dropped more than 4%, while Nvidia tumbled 7% .
Major U.S. stock indexes ended sharply lower as U.S. recession worries shook global markets and drove investors out of risky assets, while Apple shares dropped as Berkshire Hathaway cut its stake in the company. The recession concerns followed weak economic data last week .
