Financial News

Crypto Technicals: BTC/USD holds above 200-DMA, buying interest at lows limits downside

BTC/USD chart - Trading View

Exchange - Coinbase

Support: 9187.99 (200-DMA); Resistance: 9574.89 (100-DMA)

Technical Analysis: Bias Neutral

BTC/USD is trading in narrow range with session high at 9246.00 and low at 9166.55.

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America's Roundup: Dollar gains versus yen on continued trade deal optimism, Wall Street hits fresh record high, Gold slides over 1%, Oil rebounds to $62 on hopes for U.S.-China trade deal-November 8th,2019

Market Roundup

• 13:30 US Continuing Jobless Claims 1,689K, 1,683K forecast, 1,690K previous

• 13:30 US Initial Jobless Claims 211K, 215K forecast, 218K previous

• 13:30 US Jobless Claims 4-Week Avg 215.25K, 214.75K previous

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Chinese exports likely to have dropped further in October, imports to improve in months ahead

Chinese trade data for the month of October is set to release tomorrow. According to a DBS Bank research report, exports are likely to have dropped further to -4 percent on a year-on-year basis, from September’s -3.2 percent in the midst of the lingering trade tension with the U.S.

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Swedish CPIF inflation likely accelerated in October, Riksbank to hike repo rate by 35 bps in December

The Swedish central bank’s intentions to raise interest rates in December are being tested; however, even if the Riksbank might be disappointed with inflation, it would be difficult for the central bank to back away from its plans to hike the repo rate to zero.

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Italian retail sales growth accelerates in September

Italian retail sales grew in September. Sequentially, retail sales rose 0.7 percent in value terms and by 0.8 percent in volume terms, following two straight monthly declines in the series. In the third quarter, the value of retail trade rose 0.5 percent, while the quantity sold rose 0.4 percent on a quarter-on-quarter basis.

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