Analysis

USD/CAD snaps its two-day winning streak, trading around 1.3480 during the European session on Friday.

Crypto.com, the leading Singapore-based cryptocurrency exchange, announced new global retail services that will enhance crypto transactions for millions of users in over 90 countries.

In a breakdown of Bitcoin’s current market dynamics, prominent crypto analyst Dan Gambardello, in his latest video titled “Bitcoin Must Do This Now,”

Japan equities were higher at the close on Friday, as gains in the Manufacturing, Precision Instruments and Automobiles&Parts sectors propelled shares higher.

Gold (XAU/USD) edges lower to trade in the $2,510s on Friday as safe-haven demand dries up.

Bitcoin is under pressure and struggling to peel back losses from early this week. Even with prices stabilizing in the last day, the path of least resistance is southwards for now.

Investing.com-- Australian retail sales were unexpectedly flat in July as consumer spending cooled amid persistent pressure from sticky inflation and high interest rates, although a robust job market still kept sales relatively stable. 

Silver price (XAG/USD) extends its gains for the second successive day, trading around $29.50 per troy ounce during the Asian hours on Friday. Non-yielding Silver is benefiting from a lower opportunity cost as expectations grow for a US Federal Reserve interest rate cut in September.

Gold price (XAU/USD) loses momentum amid the firmer US Dollar (USD) on Friday. The upbeat US growth report and Initial Jobless Claims have pushed back the expectation of a deeper rate cut by the US Federal Reserve (Fed) in September, which weighs on the non-yielding gold.

Investing.com-- Oil prices moved little in Asian trade on Friday amid persistent concerns over tighter supplies in Libya and Iraq, but were still nursing losses for August as traders feared a looming slowdown in demand. 

Tron price is holding gains above the $0.1550 zone against the US Dollar. TRX is outperforming Bitcoin and could start a fresh increase above $0.1620.

Investing.com-- Intel Corporation (NASDAQ:INTC) is considering options to weather a historic slump, which include potentially splitting off its foundry business and scrapping plans for new factories, Bloomberg reported on Thursday.

SHANGHAI, Aug. 30, 2024 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company"), a leading automotive transaction service platform in China, today announced its unaudited financial results for the second quarter of 2024.

GBP/USD loses ground for the third successive session, trading around 1.3160 during the Asian hours on Friday. This downside could be attributed to the improved US Dollar (USD) following stronger-than-expected economic data released on Thursday.

Investing.com-- Most Asian currencies kept to a tight range on Friday as the dollar held recent gains in anticipation of key inflation data that is likely to factor into the outlook for interest rates. 

On-chain data shows the Bitcoin mining difficulty has seen an increase in the latest adjustment, a consequence of the hashrate’s recovery.

The West Texas Intermediate (WTI) Oil price continues to rise, trading around $75.50 per barrel during Friday's Asian session. This increase is driven by supply concerns in the Middle East.

TradingKey - Polling data from 270toWin shows Harris slightly leading Trump in popular support. However, the Republican Party retains a significant advantage in Electoral College votes, making swing states critical for the election outcome.

Gold prices climb despite upbeat US Q2 GDP revision and drop in unemployment claims.

Hong Kong has introduced a sandbox for Project Ensemble, a wholesale central bank digital currency (CBDC) project.