Ethereum gains ground but still marks 11% weekly loss
Most cryptocurrencies gained ground on Friday as crypto demand rallied following a steep correction that hit stocks and many other assets worldwide due to concerns about US recession.
Earlier data from the Michigan University showed the US consumer confidence index fell 10.5% in March to 57.9, down from 64.7 in February.
Senate Democratic leader Chuck Schumer said on Thursday he’ll vote in favor of a temporary finance bill, with the Democratic Party providing the necessary votes to avoid a government shutdown.
Sentiment was boosted after US President Donald Trump’s assertions about a strong chance for a Ukraine-Russia ceasefire following “constructive discussions” with Russian President Vladimir Putin.
Trump recently threatened the EU with even more tariffs after the EU imposed retaliatory tariffs on a variety of US products in response to Trump’s 25% tariff on steel and aluminum.
Trump extends his annexation taunts both towards Greenland and Canada.
Ethereum
On trading, ethereum rose 3.4% on Coinmarketcap as of 20:21 GMT to $1919.6, but marked a weekly loss of 11.75%.
Sterling edges down after weak data
Sterling fell against most major rivals on Friday following forecast-missing data.
UK GDP growth shrank 0.1% in January, missing estimates of a 0.1% rise.
GBP/USD fell 0.2% today as of 20:16 GMT to $1.2932.
Aussie
The Australian dollar rose 0.7% against its US counterpart as of 20:17 GMT to 0.6327.
US Dollar
The dollar index fell 0.1% as of 19:54 GMT to 103.7, with a session-high at 104.09, and a low at 103.5.
Earlier data from the Michigan University showed the US consumer confidence index fell 10.5% in March to 57.9, down from 64.7 in February.
Senate Democratic leader Chuck Schumer said on Thursday he’ll vote in favor of a temporary finance bill, with the Democratic Party providing the necessary votes to avoid a government shutdown.
Sentiment was boosted after US President Donald Trump’s assertions about a strong chance for a Ukraine-Russia ceasefire following “constructive discussions” with Russian President Vladimir Putin.
Gold stuns with a surge above $3000 for first time in history
Gold prices rose on Friday to fresh record highs with the precious metal surpassing $3000 for the first time ever.
It comes amid growing geopolitical tensions and high demand from central banks, with China increasing its gold reserves for the fourth straight month in February.
Earlier data from the Michigan University showed the US consumer confidence index fell 10.5% in March to 57.9, down from 64.7 in February.
Senate Democratic leader Chuck Schumer said on Thursday he’ll vote in favor of a temporary finance bill, with the Democratic Party providing the necessary votes to avoid a government shutdown.
Sentiment was boosted after US President Donald Trump’s assertions about a strong chance for a Ukraine-Russia ceasefire following “constructive discussions” with Russian President Vladimir Putin.
Otherwise, the dollar index fell 0.1% as of 19:54 GMT to 103.7, with a session-high at 104.09, and a low at 103.5.
On trading, gold April futures rose 0.4%, or $9.8 to $3001 an ounce, a record high, with a weekly profit of 3%.
Wall Street climbs, Dow Jones rallies over 500 points
US stock indices rose on Friday as optimism returned to the markets as the government might just avoid a shutdown.
Senate Democratic leader Chuck Schumer said on Thursday he’ll vote in favor of a temporary finance bill, with the Democratic Party providing the necessary votes to avoid a government shutdown.
Wall Street also received support from US President Donald Trump’s assertions about a strong chance for a Ukraine-Russia ceasefire following “constructive discussions” with Russian President Vladimir Putin.
On trading, Dow Jones rose 1.4% as of 15:55 GMT to 41,401 points, while S&P 500 rose 1.8%, or 103 points to 5624 points, while NASDAQ added 2.3% to 17,703 points.