Meanwhile, altcoins continue to show a mixed bag of performance with XRP unable to break $0.30. Tezos (XTZ) has seen a massive price spike owing to the introduction of XTZ staking by Coinbase. The price surge has created arbitrage opportunities across several exchanges.
It has been a challenging week for the U.S. dollar as the greenback sold off against most of the major currencies. Weaker U.S. data combined with Federal Reserve Chairman Powell’s benign outlook for the U.S. economy reinforced the market’s view that low rates will be here to stay. Trade talks also hit a snag this week and the ongoing uncertainty is taking its toll on currencies.
U.S. futures climb as investors cling onto trade optimism—for how much longer?
British pound completes bullish pattern as PM Johnson wins full party’s support for Brexit deal
Hong Kong’s shares outperform, defying ongoing turmoil
Saudi Aramco IPO misses $2 trillion target
Retail week is upon us, the final portion of earnings season which traditionally closes this period of reporting. A variety of big retailers are in the spotlight in the coming week, and most have done surprisingly well this year. The key takeaway will likely be whether these bricks-and-mortar stalwarts can continue proving the “retail is dead” narrative is wrong.
The trade deal headlines might have become tiring to the traders, but not to their machines.
Headline-reading algorithmic trading models will remain alert to words like “close,” “very near” and “good progress” that are associated with the U.S.-China talks this week as signs to continue buying into oil.