The British pound plummets to a fresh weekly low of 1.1122 on Friday after the release of disappointing UK retail sales data. The recent bearish momentum is also driven by the political crisis in Britain. British Prime Minister Liz Truss resigned Thursday after just 44 days in office.
Snap, the parent company of Snapchat (NYSE: SNAP) stock plunged more than 84% over the last 12 months. The social media company is set to report financial results for the third quarter today after the market close.
Wall Street ended sharply higher on Monday after a couple of days of strong bearish sentiment. Moving ahead, investors will be on high alert Today as the streaming giant Netflix reports third-quarter earnings after the market close.
The dollar index, which compares the value of the dollar to those of six other currencies slightly retreats from the highs ahead of the release of the US CPI report. The inflation data is set to be released at 12:30 GMT.
Bitcoin, the world's largest and most popular cryptocurrency remain under pressure and struggling to find upside momentum. Moving ahead, Bitcoin traders and investors should closely monitor the key economic releases this week, U.S. Federal Reserve minutes and key US inflation data for clues on the pace of future interest rate hikes.