Last week Xiaomi's shares entered the market and during the first trading session the company lost 1.3% of its value. The company also expected the capitalization to be $100 billion, but expectations were not met and their value was $54 billion. Currently it is the largest IPO in Hong Kong since 2016.
The dollar index continues to decline and has now dropped to the level of 93.55. The dollar is losing its positions relative to the basket of major currencies and is forming medium-term trends.
Despite all the risks, Donald Trump has already said that he is ready to increase duties on Chinese goods and their size is expected to amount to $500 billion. After he already imposed restrictions on goods worth $34 billion, China reciprocated with tariffs of their own.
Furthermore, there was a renewed tension in the nuclear negotiations between the US and North Korea about the denuclearization of the peninsula. In Pyongyang, US Secretary of State Mike Pompeo arrived to remind Kim Jong-un of the need for nuclear disarmament. Therefore, at the moment, the demand is for safe haven instruments and cryptocurrencies are out of favor.
