Weaker Dollar, higher crypto space, markets in retracement mode
|Important News for the Day
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Friday, 15th, 14:30 CET US Retail Sales
Chinese economy
Recent Chinese economic data suggests that the economy is getting back on track. Retail sales grew at the fastest pace since February this year. According to a recent Bloomberg survey, the growth of 4.8% exceeded all previous estimates. The recent impact of Beijing's stimulus measures may be providing positive momentum. However, industrial output numbers remain disappointing. Figures rose by 5.3%, still below the forecast.
Market talk
Bitcoin seems to be fading near the USD 90,000 level after a tremendous run following the US election. Other tokens also experienced sharp rises after Donald Trump was elected as the new US President. Ripple may continue breaking to higher levels beyond the USD 0.9000 zone, as recent technical patterns have been broken to the upside. Additionally, some weakness in the Dollar could support further growth in the crypto markets.
Tendencies in the markets
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Equities correcting, USD sideways, cryptos positive, oil weaker, metals weaker, JPY weak.
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