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Germany Gross Domestic Product w.d.a (YoY) increased to 0.6% in 4Q from previous 0.3%
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EUR/USD has slipped back into its downtrend, drifting towards the 1.1920–1.1910 area as the US dollar regains some momentum. The Greenback’s push higher gathered pace after President Trump named Kevin Warsh as Jerome Powell’s successor.
Selling pressure is picking up pace, dragging GBP/USD down to the area of three-day lows near 1.3720 on Friday. The pullback in Cable reflects a sharp rebound in the US Dollar as investors digest Trump’s announcement of the new Fed chair.
Gold is extending its pullback, falling markedly below the key $5,000 mark per troy ounce at the end of the week in response to a wide spread profit taking in the commodity, the stronger Greenback and rising US Treasury yields.
Stellar continues to trade in the red, slipping below $0.20 on Friday, a level not seen since mid-October. Bearish sentiment intensifies amid falling Open Interest and negative funding rates in the derivatives market. On the technical side, weakening momentum indicators support further correction in XLM.
Microsoft's (MSFT) post-earnings cratering on Thursday sent other indices into pullback mode despite the narrow nature of its weakness.
Bitcoin, Ethereum, and Ripple continued their corrections on Friday, posting weekly losses of nearly 6%, 3%, and 5%, respectively. BTC is nearing the November lows at $80,000, while ETH slips below $2,800 amid increasing downside pressure.
