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xtb
Posts: 115
 xtb
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Morning wrap

6:42 AM May 13, 2020
  • US indices lost ground at the end of yesterday’s session. S&P 500 closed 2.05% lower, Nasdaq dropped 2.06% and Dow Jones moved 1.89% lower.

  • Downbeat moods prevail during the Asian trading hours. Stocks from Australia, Japan and China are trading lower. The South Korean index is posting a small gain. DAX is seen opening over 100 pts lower.

  • Number of confirmed coronavirus cases stands at 4.342 million while almost 293 thousand people died. On the other hand, close to 71 thousand people were registered as recovered yesterday – the biggest one-day increase

  • Authorities of Shulan, a city in northeastern China, introduced lockdown measures after jump in locally transmitted cases. Fears of second virus wave in China increase

  • NZD is top laggard among majors following RBNZ decision. The Bank left the main rate unchanged at 0.25% but decided to almost double the size of its QE programme, from 33 billion NZD to 60 billion NZD. Other major currencies trade in narrow ranges

  • Los Angeles authorities plan to extend stay-at-home order by 3 months. Germany may reintroduce strict lockdown if cases jump to 50 per 100k citizens. Gilead Science struck an agreement with 5 global drugmakers to manufacture Remdesivir in 127 countries

  • UK Chancellor of Exchequer Sunak said that his country considers increasing income tax and freezing public sector pay.

  • Fed’s Mester repeated message sent by other Fed members saying that negative interest rates would not work in the United States

  • South Korean unemployment rate remained unchanged at 3.8% in April. Meanwhile employment declined by 476 thousand jobs compared to a year ago

  • Toyota plans to sell 7 million cars this year, down from 9 million in previous forecast.Volkswagen will limit output in its biggest factory in Germany due to depressed demand in Europe

  • API report released yesterday showed a 7.6 mb build in oil inventories (exp. +4.2 mb)

  • Platinum and palladium gain while gold and silver trade flat. Oil pulls back along with industrial metals

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xtb
Posts: 115
 xtb
(@xtb)
Estimable Member
Joined: 5 months ago

Morning wrap

6:40 AM May 15, 2020
  • US indices made an impressive turnaround yesterday. S&P 500 was trading more than 2% lower but finished session 1.15% higher. Nasdaq gained 0.91% while Dow Jones jumped 1.62%

  • Equities in Asia catch a bid following a solid US session. Nikkei gains 0.6%, Kospi adds 0.25% and Chinese indices trade higher. Australian S&P/ASX 200 trades over 1% higher. DAX futures point a moderate bullish gap at European session open

  • Number of confirmed coronavirus cases jumped above 4.5 million. Death toll surpassed 300 thousand and the number of recovered topped 1.7 million. Around 96.3 thousand new cases were reported yesterday – the fourth worst day

  • Japan’s authorities announced yesterday that the state of emergency will be lifted in 39 prefectures. Tokyo is not included

  • Stimulus bill prepared by Democrats is unlikely to gather Republicans’ support. However, Republicans are said to be preparing their own bill

  • White House is said to be preparing an executive order forcing companies to produce essential drugs in the United States

  • Chinese industrial production increased 3.9% YoY in April (exp. +1.5% YoY). However, investments dropped 10.3% YoY (exp. -10% YoY) and retail sales slumped 7.5% YoY (in-line with expectations)

  • Fed bought $305 million of ETFs during a launch of its new program

  • Fed members stayed short of calling for negative interest rates. However, they called for more fiscal stimulus. Meanwhile, futures market expect US rates to drop below zero in Q1 2021

  • NYSE will partially open trading floor on Tuesday, May 26

  • NZD and GBP are top laggards among majors while USD and CAD outperform

  • Gains can be spotted on the commodities market. Precious metal gain along industrial metals and oil

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xtb
Posts: 115
 xtb
(@xtb)
Estimable Member
Joined: 5 months ago

Morning wrap

6:35 AM May 18, 2020
  • Asian equities are trading higher at the start of a new week. Nikkei gains 0.5% and Kospi trades 0.7% higher. S&P/ASX 200 gains 1.3%. DAX and S&P 500 futures are trading higher

  • Number of confirmed coronavirus cases topped 4.8 million. Death toll rose past 316 thousand and a total of 1.86 million people recovered.

  • Fed Chair Powell said that the Reserve is not out of ammunition and will act if needed. He also said that he expects unemployment to peak between 20 and 25%. Powell also repeated that he does not think negative rates are appropriate for the US economy

  • China said it will take necessary steps to protect companies and their interest. It also urged United States to stop policy aimed at restricting chip exports to Huawei

  • GBP trades lower today after BoE Chief Economist Haldane said that the Bank was discussing negative rates. Apart from that, lack of progress in EU-UK trade talks may also pressure GBP

  • Japanese economy shrinked 0.9% QoQ in Q1 2020 (exp. -1.2% QoQ)

  • UK tanker was attacked off the coast of Yemen on Sunday. No injuries or damages were reported however

  • China’s Global Times head editor called onto country to step up its nuclear program amid rising tensions with the United States

  • Fitch affirmed France rating at “AA” but outlook was lowered from “stable” to “negative”

  • OPEC+ may extend its production cut agreement into year’s end

  • Commodities are trading higher all across the board. WTI and Brent surge just as precious metals do

Coronavirus pandemic shows neither signs of slowing, nor spreading. However, will it last this way once countries lift lockdowns? Source: worldometers, XTB Research

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xtb
Posts: 115
 xtb
(@xtb)
Estimable Member
Joined: 5 months ago

Morning wrap

6:39 AM May 19, 2020
  • US indices rallied yesterday on vaccine hopes. S&P 500 jumped 3.15%, Dow Jones added 3.85% and Nasdaq gained 2.44%. Russell 2000 rallied over 6%

  • Upbeat moods extended into the Asian trading hours. Nikkei and S&P/ASX 200 gain around 2% while Kospi trade 2.3% higher. DAX futures trade slightly higher while US futures trade flat

  • Number of confirmed coronavirus cases stands at 4,894,233. Death toll has risen to 320,181. Number of recovered stands at 1,908,065. US death toll has exceeded 90,000. Brazil surpassed United Kingdom and became fourth most infected country (255,368 cases)

  • France and aGermany proposed coronavirus recovery plan worth €500 billion

  • Donald Trump said he may freeze WHO funding permanently and reconsider US membership unless the Organization proves it is independent from China

  • Powell said that the Fed will keep interest rates low until the economy gets back on track. Mnuchin said he expects improvement in the economy in the second half of a year

  • China confirmed 80% tariff on imports of Australian barley

  • RBA minutes showed that central bankers prefered to wait to see effects of recent introduced stimulus before making next monetary policy move

  • Reports of missile attack in Green Zone, Baghdad surfaced overnight. US embassy is located nearby.

  • AUD and NZD are top moving major currencies while CHF and JPY are lagging the most

  • Situation on the commodities market is mixed. Oil gains slightly but industrial metals pull back. Gold and palladium gain but silver and platinum lag

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xtb
Posts: 115
 xtb
(@xtb)
Estimable Member
Joined: 5 months ago

Morning wrap

6:39 AM May 20, 2020
  • US indices finished yesterday’s session lower. S&P 500 dropped 1.05%, Dow Jones declined 1.59% and Nasdaq slipped 0.54%.

  • Situation is mixed in Asia-Pacific. Nikkei, Kospi and S&P/ASX 200 trade higher but indices from China lag. DAX futures trade flat

  • Number of confirmed coronavirus cases increased to 4.989 million with the death toll rising to 324.9 thousand. Total number of recovered patients stands at 1.959 million. Brazil is likely to surpass Spain today.

  • Trump said he is considering imposing a travel ban to Brazil and Latin America 

  • US President hinted on possibility of terminating cattle import deals

  • Singapore is considering reopening borders with Australia, New Zealand, China and South Korea

  • China says that 99.1% of big industrial companies resumed work and 95.4% of employees returned to work

  • RBNZ Governor Orr said he does not want negative rates at this moment

  • People’s Bank of China left 1- and 5-year lending rates unchanged

  • API report showed a surprise 4.8 million barrel draw

  • Japan’s core machinery orders data for March showed a decline of 0.4% MoM (exp. -7.1% MoM)

  • Precious metals advance along with energy commodities. Industrial metals and grains trade mixed

  • AUD and NZD are leaders among majors while JPY and USD lag the most. Turkish lira declines against USD

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xtb
Posts: 115
 xtb
(@xtb)
Estimable Member
Joined: 5 months ago

Morning wrap

6:42 AM May 21, 2020
  • US indices finished yesterday’s session with solid gains. S&P 500 added 1.67%, Dow Jones gained 1.52% and Nasdaq jumped 2.08%

  • Stocks from Asia-Pacific region trade mixed. Nikkei and S&P/ASX 200 gain while Hang Seng declines. However, all three indices trade very close to previous closing prices. DAX futures trade around 100 point below yesterday’s close

  • Number of confirmed coronavirus cases topped 5 million and reached 5.09 million. Almost 330 thousand people died and more than 2.02 million people recovered.

  • New Zealand will open bars soon with 4-day work week being taken into consideration

  • White House keeps accusing China of predatory economic policies, military build-up as well as disinformation.

  • Preliminary PMIs from Australia for May showed services index jumping from 19.5 to 25.5 pts and manufacturing index dropping from 44.1 to 42.8 pts

  • Preliminary PMIs from Japan for May showed services index moving from 21.5 to 25.3 pts and manufacturing index dropping from 41.9 to 38.4 pts

  • Japan’s exports declined 21.9% YoY in April (exp. -22.7% YoY) while imports dropped 7.2% YoY (exp. -12.9% YoY). Trade deficit stood at 930.4 billion JPY

  • South Korean exports dropped 20.3% YoY in the first 20 days of May.

  • Credit card spending in New Zealand dropped 41.3% MoM in April (exp. -9.7% MoM)

  • AUD and NZD are top laggards among majors while JPY and USD lead. EM currencies decline against USD

  • Precious metals are pulling back after strong gains in recent days. Platinum and palladium take the biggest step back.

  • Oil trades higher following an announcement that Saudi Arabia and Kuwait will halt production at Al-Khafji oil field for one month

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xtb
Posts: 115
 xtb
(@xtb)
Estimable Member
Joined: 5 months ago

Morning wrap

6:28 AM May 25, 2020
  • Stocks in Asia-Pacific trade mixed at the beginning of a new week. Equities from Japan, Australia and South Korea gain while indices from China decline. DAX and S&P 500 futures trade slightly higher

  • China-US tensions continue to heat up. United States plans to add over 30 Chinese companies to economic blacklist while China warned of ample countermeasures in case US continues current rhetoric

  • Number of confirmed coronavirus cases reached 5.5 million while 2.3 million people recovered from Covid-19. Total death toll stands at 346.7 thousand. Japan’s economy minister said that a state of emergency is no longer needed in Japan. China did not report a single case on Saturday, May 23

  • Austria, Denmark, Sweden and the Netherlands oppose the idea of €500 billion EU recovery fund. Those countries said they cannot support any kind of debt mutualisation

  • The United States has restricted entry from Brazil due to a big increase in new coronavirus cases in the South American country. New Zealand will loosen restriction on gathering from May 29

  • Vladimir Putin has ordered a bailout of Russian oil companies

  • Financial Times reported that UK made a bailout plan for strategically important companies

  • Apple will reopen some stores in Japan this week

  • Trading ranges on the FX market are narrow as liquidity is thinner (UK and US traders are on holiday today). GBP and AUD are top movers among majors while CHF and JPY lag the most

  • Precious metals pull back while industrial metals and energy commodities gain

Total number of confirmed coronavirus cases topped 5.5 million. Pandemic is quickly accelerating in South America, especially Brazil and Peru. Source: worldometers, XTB Research

 

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xtb
Posts: 115
 xtb
(@xtb)
Estimable Member
Joined: 5 months ago

Morning wrap

6:40 AM May 26, 2020
  • Stock markets in Asia are rallying. Nikkei gains 2.5%, S&P/ASX 200 adds 2.2% and Kospi trades 1.5% above yesterday’s close. S&P 500 futures broke above 3,000 pts mark overnight while DAX futures tested 11,500 pts handle

  • Moods on the global markets improved significantly after Novavax said it has begun human trials of its coronavirus vaccine. On the other hand, Avigan drug developed by Japanese Fujifilm will not be ready by end-May as previously expected

  • Number of confirmed coronavirus cases increased to 5.59 million. 2.36 million people recovered. Total death toll stands at 347.9 thousand 

  • Hong Kong leader Carrie Lam ensured citizens there is no need to worry about freedom or rights. Meanwhile, Hong Kong trade unions call for a general strike tomorrow

  • PM trudeau said he still has not decided whether to block Huawei from Canadian 5G or not

  • Governor Kuroda said that Bank of Japan is ready to do whatever it takes to save economy and will not hesitate to change interest rates in case it is necessary

  • Singapore GDP dropped 4.7% QoQ in Q1 2020

  • New Zealand’s trade balance stood at NZ$1.267 billion in April.

  • AUD and NZD are top performing major currencies while JPY, USD and CHF decline on risk-off flows. EM currencies gain against USD

  • Precious metals gain while industrial metals trade mixed. Energy commodities gain with WTI approaching $35 handle

  • Latam Airlines, the biggest carrier in Latin America, filed for bankruptcy due to negative impact from Covid-19 

Number of new cases reported each day remains high. WHO experts warned that we may be heading for a second peak of the first wave of infections. Source: worldometers, XTB Research

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xtb
Posts: 115
 xtb
(@xtb)
Estimable Member
Joined: 5 months ago

Morning wrap

6:41 AM May 27, 2020
  • US indices finished yesterday’s session higher. S&P 500 jumped 1.23% and finished slightly below 3,000 pts mark, Dow Jones added 2.17% and Russell 2000 surged 2.88%. On the other hand, Nasdaq gained only 0.17%

  • Moods during Asian trading hours are mixed. S&P/ASX 200, Nikkei and Kospi ink small gains while indices from China pull back. S&P 500 and DAX futures are trading above yesterday’s cash close.

  • Number of confirmed coronavirus cases jumped 5.68 million while the death toll surpassed 350 thousand (352.2 thousand currently). 2.43 million people recovered.

  • Asked about sanctions on China, Trump said he will offer more details by the end of the week.

  • Large protests are expected in Hong Kong today as trade unions called a general strike. Reports say that the building of the city’s legislature is surrounded by police and clashes are expected

  • Bloomberg reported that Japan plans to introduce new stimulus package worth 117.1 trillion JPY

  • Travel between Australia and New Zealand could be resumed in July

  • Oppo, one of the biggest Chinese mobile phone manufacturers, boosted efforts to develop its own chips. Move comes after US cut Huawei off the global chip supply

  • China’s industrial profits dropped 4.3% YoY in April. In January-April period a drop of 27.4% YoY was registered

  • Australia’s construction work done declined 1% QoQ in Q1 2020 (exp. -1.5% QoQ)

  • Boeing is said to be readying to announce big job cuts next week

  • CAD and JPY gain the most among majors while EUR and CHF are top laggards

  • Precious metals, energy commodities and industrial metals trade lower today. Small gains can be spotted on grains market

There is not much of an improvement in new case data as of late. More new cases were reported in South America yesterday than on any other continent. Source: worldometers, XTB Research

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xtb
Posts: 115
 xtb
(@xtb)
Estimable Member
Joined: 5 months ago

Morning wrap

6:38 AM May 28, 2020
  • US indices finished higher after a volatile session yesterday. S&P 500 added 1.48%, Dow Jones gained 2.21% and Nasdaq jumped 0.77%.

  • Stocks in Asia Pacfic are trading mixed. Nikkei and S&P/ASX 200 gain while Kospie and indices from China decline. Hang Sang is trading 1.7% lower. DAX futures point to a higher opening of European cash session

  • Total number of people infected with novel coronavirus nears 5.8 million. Death toll stands at 357.5 thousand with the United States surpassing 100 thousand deaths. 2.5 million people recovered

  • Pompeo said that Hong Kong is no longer independent from China and the US may now work to remove its special status. China is expected to pass Hong Kong security law today

  • White House said that Trump will issue executive orders against social media platforms. Decision comes after Twitter labelled some of Trump’s tweets as misleading

  • North Korea warned that it is able to immediately launch a nuclear attack anywhere in Northeast Asia

  • According to UK Times, Boris Johnson will meet with European leaders in Brussels next month to discuss post-Brexit trade

  • Boeing will resume production of 737 MAX jets at production plant in Renton, Washington

  • Australia’s Q1 private capital expenditure dropped 1.6% QoQ (exp. -2.7% QoQ)

  • API report showed an unexpected 8.7 mb build in crude inventories (exp. -2.5 mb)

  • American Airlines reportedly plan to lay off 30% of management and administrative staff

  • Launch of the SpaceX rocket was postponed due to unfavourable weather conditions. Launch may be made on Saturday or Sunday

  • EUR and NZD are top movers among majors while AUD and JPY lag the most. EM currencies gain

  • Precious metals gain but platinum lags. Oil pulls back while industrial metals trade mixed

Over 106 thousand new cases were reported yesterday. This is the third highest daily count since the pandemic started. Source: worldometers, XTB Research

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xtb
Posts: 115
 xtb
(@xtb)
Estimable Member
Joined: 5 months ago

Morning wrap

6:39 AM May 29, 2020
  • US indices erased gains at the end of yesterday’s session and finished lower. S&P 500 dropped 0.21%, Dow Jones declined 0.58% and Nasdaq slipped 0.46%.

  • Mixed moods can be spotted during the Asian session. S&P/ASX 200 and Hang Seng trade lower, Kospi and Chinese indices gain while Nikkei trades flat. DAX futures point to a lower opening of the European cash session

  • Over 116 thousand new coronavirus cases were reported yesterday. This is a daily record bringing the total to over 5.9 million. Overally, 362 thousand people died while 2.58 million recovered

  • Trump signed an executive order aimed at limiting interference of social companies into content posted by users. US President also announced he will hold a press conference on China today

  • China said that it wants a peaceful reunification with Taiwan

  • Japan’s retail sales declined 9.6% MoM in May (exp. -6.9% MoM). Industrial production declined 9.7% MoM in May (exp. -5.7% MoM).

  • South Korean industrial output dropped 6% MoM in April, the sharpest drop since 2008

  • United Kingdom aims to create a group of 10 countries in order to seek alternatives to China’s 5G supply

  • Tokyo will loosen some restrictions on business starting from June. Apart from that, gyms and department stores will be allowed to open

  • Riots in Minneapolis continue to escalate with a police station being set on fire overnight. Riots were triggered by a death of a man under police restraint. US National Guard was sent to help

  • AUD and JPY are top performing major currencies while USD and CHF lag the most. EM currencies gain.

  • Precious metals gain, energy commodities lag while industrial metals trade mixed

 

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