1. Upcoming Fork Pushed Bitcoin Cash Up Almost 40% This Week
Bitcoin cash, the fork of bitcoin is set to fork again and prices have risen sharply as a result — moving the wider altcoin market higher. Specifically, Bitcoin cash added a whopping 37% to its price during the past week. The bitcoin cash price is currently around $591.24 as of 8:00 GMT this morning, up from its lows of $415 last week.*
2. Gold Set For Biggest Weekly Loss In The Last 3 Months
Gold prices are on track to post its biggest weekly fall since August. Meanwhile, silver was also headed for its biggest weekly fall since Sept. 7. The bear wave in metal markets came after the Federal Reserve kept interest rates steady on Thursday but reaffirmed its monetary tightening stance. This in turn pushed the dollar higher and put pressure on the dollar denominated noble metal. Specifically, Gold futures (XAUUSD) were last seen trading 0.4% lower, at $1220.50 as of 8:00 GMT this morning.**
3. European Markets Open Lower, Italy In Focus
European equities started the day lower on Friday morning as they continue to chase global market sentiment. Indicatively, The FTSE 100 was last seen trading 0.6% lower; the DAX 30 lost more than 50 points as of 8:00 GMT. Investors will be closely watching developments in Italy, after the European Commission said Thursday that Rome’s economic forecasts are not in line with its own calculations. It is important to note that Euro group President Mario Centeno is meeting Italy’s finance minister Giovanni Tria at 11.30 GMT today. Meanwhile, in Brexit news, the U.K. government is set to hold critical meetings during the weekend.***
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*Source: Forbes, Nov 9, 2018, 6:25 AM GMT
**Source: Reuters, Nov 9, 2018, 4:16 AM GMT
***Source: CNBC, Nov 9, 2018, 3:03 AM ET
