1. Cryptocurrencies Slide Amid Hacking Spook
Major cryptocurrency pairs slid across the charts today amid recent hacking scandals and security fears. OmiseGO lost 4.79% against the USD as of 6:30 GMT this morning despite its recent important advances in Plasma development and integration. Ripple’s XRP plunged 5.6% against the U.S. dollar to last trade at $0.46036 while DASH was last seen trading 4.52% lower at $156.84.*
2. Gold Edges Higher As Stock Markets Dip
Gold prices nudged higher on Friday as Asian shares dropped on renewed political and economic concerns including China’s weak growth. Specifically, China’s economy grew 6.5 percent in the third quarter from a year earlier, its weakest pace since the global financial crisis. With Chinese equity markets continuing to drift lower, and lingering geopolitical concerns, investors seem to have turned to safe haven assets such as gold. Gold futures were last seen trading up 0.1 percent at $1,231.40 per ounce as of 6:30 GMT.**
3. CAD Pairs Are In For A Ride
Today, the Canadian dollar will be in the market’s spotlight ahead of key CPI and Core Retail Sales figures due at 12:30 GMT today. Considering the NAFTA negotiations and the trade war, robust economic data can provide some much needed support for the CAD pairs. It is important to note that the CADUSD has recovered somewhat from yesterday’s lows, with the pair adding 0.3% as of 6:40 GMT this morning. Canada’s Core CPI is expected to come in slightly stronger for September while the nation’s Core Retail Sales change is forecast at 0.2% for August, down from July’s 0.9%.***
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*Source: Investing Oct 19, 2018 12:22 AM ET
**Source: Reuters Oct 19, 2018 1:38 a.m. ET
***Source: FXLeaders Oct 19, 2018 / 4:51 AM
