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Cryptos recover from weekend dip
After showing declines to start the weekend, the cryptocurrency market was seen higher over the past 24 hours, as 6 of the top 10 cryptos registered gains. At the time of writing, Bitcoin was slightly higher, trading just below the $8,000 mark. Just outside the top 10 ranking, 13th ranked Dash registered impressive gains, up by more than 10% at the time of writing.
Today’s highlights: Trade war continues to weigh on markets
- US-China tensions continue: Wall Street finished lower on Friday, following reports that the US and China were reluctant to schedule another round of trade talks, due to President Trump’s executive order limiting Chinese telecom companies’ activities in the US.
- Asian markets mostly lower: The ongoing US-China trade dispute impacted markets in the East this morning, as both the HKG50 and China50 indices were seen lower. In contrast, the JPN225 index was seen higher.
- Oil jumps on OPEC production cut: Saudi Energy Minister Khalid al-Falih yesterday said that OPEC+ members are in agreement to continue the production slowdown, resulting in oil prices showing impressive gains this morning.
- Low volatility expected for CAD: Banks in Canada will be closed today, in observance of a national holiday. As a result, lower liquidity and volatility could be expected for the Canadian Dollar.
- Powell to speak today: Fed Chair Jerome Powell will be giving a speech at a conference in Florida at 23:00 GMT. Powell’s speech could generate volatility for the USD and other key financial instruments in the US.
- Tesla crashes more than 7%: Electric carmaker Tesla reached its lowest levels in more than 2 years on Friday, after dropping 7.6%. The recent losses are attributed to Tesla’s poor performance in Q1, losing $700 million, a recent crash involving a Tesla car’s autopilot feature, and founder Elon Musk saying the company requires a financial overhaul.
- GBP tumbles on Brexit fears: After Prime Minister Theresa May failed to reach an agreement with other political parties regarding Brexit, the GBP fell on Friday, recording its 9th consecutive losing session – the longest losing streak this century.
- Europe opens mixed: The UK100 opened 6 points higher, the GER30 opened nearly flat and the FRA40 opened 7 points lower.
TSLATesla Motors, Inc.
211.06 -17.27 (-7.56%)
0.8759 -0.0008 (-0.09%)
Stocks earnings releases on 20/05/2019
TTMTata Motors Shs Sponsored American Deposit Receipt Repr 5 Shs
Stocks earnings releases on 21/05/2019
Earnings season continues: To follow upcoming earnings reports, go to eToro’s Earnings Reports Calendar. Please note that maximum leverage for CFD stocks will be limited to X5 one day ahead of earnings report releases. X10 leverage will be available again soon after the report is published.
* Cryptoassets are a highly volatile unregulated investment product. No EU investor protection. Your capital is at risk.
* Please note that due to market volatility, some of the prices may have already been reached and scenarios played out.
* The information above is not investment advice.
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