The dollar strengthened amidst strong US retail sales data, but cryptocurrencies managed to recover significantly. Bitcoin jumped over 9% to $24,300, the highest level since June 2022. Ethereum also surged over $140 to $1,688.18.
US retail sales recorded a 3.0% growth in January. This outperformed Mitrade's estimates of 1.8%. This allowed USD/CAD to climb 58 pips to 1.3392, and USD/JPY 100 pips higher at 134.11.
Although the UK year-on-year inflation rate slightly slowed to 10.1%, GBP/USD still plunged 144 pips to 1.2026. EUR/USD declined 46 pips to 1.0689, and AUD/USD dropped 82 pips to 0.6903.
Spot gold fell $18.5 to $1,835.97 an ounce. As the US added over 16 million barrels to its crude oil inventories, WTI oil futures traded $0.47 lower at $78.59 a barrel.
The Nasdaq 100 increased 97 points (+0.77%) to 12,687 thanks to a rally among major tech shares. The S&P 500 rose 11 points (+0.28%) to 4,147, and the Dow added 38 points (+0.11%) to 34,128.
US retail sales recorded a 3.0% growth in January. This outperformed Mitrade's estimates of 1.8%. This allowed USD/CAD to climb 58 pips to 1.3392, and USD/JPY 100 pips higher at 134.11.
Although the UK year-on-year inflation rate slightly slowed to 10.1%, GBP/USD still plunged 144 pips to 1.2026. EUR/USD declined 46 pips to 1.0689, and AUD/USD dropped 82 pips to 0.6903.
Spot gold fell $18.5 to $1,835.97 an ounce. As the US added over 16 million barrels to its crude oil inventories, WTI oil futures traded $0.47 lower at $78.59 a barrel.
The Nasdaq 100 increased 97 points (+0.77%) to 12,687 thanks to a rally among major tech shares. The S&P 500 rose 11 points (+0.28%) to 4,147, and the Dow added 38 points (+0.11%) to 34,128.