Ripple tumbles 3% and marks weekly loss
Most cryptocurrencies fell on Friday amid persistent concerns in the markets about the potential renewal of the US-China trade war.
Trump accused China of violating an agreement suspending reciprocal tariffs with the US, adding that he was “too nice” with Beijing.
The US trade representative raised even more concerns when talking about potentially expanding tariffs against China if needed.
Earlier US data showed personal consumption rose 2.5% y/y in April, slowing down from 2.6% in March.
The University of Michigan’s consumer confidence survey fell 24.5% in May from 69.1 in the same month of last year.
Ripple
On trading, Ripple fell 3.1% as of 20:56 GMT to $2.19 on Coinmarketcap , marking a weekly loss of 6.7%.
Loonie edges higher after positive data
The Canadian dollar rose against a basket of major rivals on Friday following strong growth data.
Canada’s GDP growth clocked in at 0.1% in March, as expected.
On trading, the CAD/USD pair rose 0.6% as of 20:51 GMT to 0.7286.
Aussie
The Australian dollar was little changed against the US dollar at 0.6443.
US Dollar
The dollar index rose 0.1% as of 20:28 GMT to 99.3, with a session-high at 99.6, and a low at 99.1.
Trump accused China of violating an agreement suspending reciprocal tariffs with the US, adding that he was “too nice” with Beijing.
The US trade representative raised even more concerns when talking about potentially expanding tariffs against China if needed.
Earlier US data showed personal consumption rose 2.5% y/y in April, slowing down from 2.6% in March.
The University of Michigan’s consumer confidence survey fell 24.5% in May from 69.1 in the same month of last year.
Gold drops and marks monthly loss in May
Gold prices fell on Friday as the dollar index rose mildly against most major rivals, amid uncertainty about the US-China tariff war.
Trump accused China of violating an agreement suspending reciprocal tariffs with the US, adding that he was “too nice” with Beijing.
The US trade representative raised even more concerns when talking about potentially expanding tariffs against China if needed.
Earlier US data showed personal consumption rose 2.5% y/y in April, slowing down from 2.6% in March.
The University of Michigan’s consumer confidence survey fell 24.5% in May from 69.1 in the same month of last year.
Otherwise, the dollar index rose 0.1% as of 20:28 GMT to 99.2, with a session-high at 99.6, and a low at 99.1.
On trading, gold spot prices fell 0.8% as of 20:28 GMT to $3317.4 an ounce, while marking a 2.3% weekly loss, and a 1% monthly loss in May.
Wall Street loses ground on renewed trade war concerns
US stock indices fell on Friday amid renewed concerns about the trade war following new statements by US President Donald Trump against China.
Trump accused China of violating an agreement suspending reciprocal tariffs with the US, adding that he was “too nice” with Beijing.
The US trade representative raised even more concerns when talking about potentially expanding tariffs against China if needed.
Earlier US data showed personal consumption rose 2.5% y/y in April, slowing down from 2.6% in March.
On trading, Dow Jones rose 0.1% as of 15:13 GMT to 42,270 points, while S&P 500 fell 0.1% to 5904 points, as NASDAQ shed 0.3% to 19,111 points.