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 xtb
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Morning wrap

6:41 AM June 19, 2020
  • US indices finished yesterday’s session mixed. S&P 500 closed 0.06% higher, Nasdaq added 0.33% and Dow Jones dropped 0.15%

  • Gains can be spotted on stock exchanges in Asia-Pacific region. Nikkei trades 0.4% and S&P/ASX 200 adds 0.1%. Kospi trades 0.3% lower. DAX futures point to more or less flat opening of the European session

  • Number of confirmed coronavirus cases stands at 8.583 million. 456 thousand people died while 4.532 million people recovered

  • Trump said that the United States retain an option to complete decouple from China

  • US officials said that China wasn’t forthcoming during this week’s talks with Pompeo. However, China made a clear commitment to follow Phase One trade deal

  • Bill Morneua, finance minister of Canada, said that Canadian economy is performing poorly and that tax hikes are not on the table right now

  • Preliminary retail sales data from Australia showed a 16.3% MoM increase in May. Clothing, footwear as well as takeaway food enjoyed strong demand

  • Tokyo has lifted all coronavirus restrictions for businesses

  • GBP and AUD are leaders among majors while NZD and USD lag the most.

  • Precious metals gain along with oil. Industrial metals advance but nickel lags

More than 140,000 new Covid-19 cases were reported on Thursday, June 18. Source: worldometers, XTB

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xtb
Posts: 141
 xtb
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Morning wrap

6:44 AM June 22, 2020
  • Stocks in Asia are trading mixed at the beginning of a new week. Nikkei and S&P/ASX 200 trade flat, Kospi trades lower and Chinese indices trade higher. S&P 500 and DAX futures trade slightly higher
  • Number of confirmed coronavirus cases topped 9 million yesterday. Total death toll rose above 470 thousand while 4.84 million people recovered.
  • White House trade adviser Navarro said that his country is preparing for the second wave of coronavirus infections
  • UK government will review social distancing rules on Tuesday
  • Media reports suggest that there were no military talks between China and India since Thursday. Two countries are said to be bolstering their positions near the border
  • Jens Weidmann, Bundesbank President, said that he believes the worst is over for German economy
  • Philip Lowe, RBA chief, said that he would like to see AUD exchange rate lower but it is not a problem right now
  • South Korean exports dropped 7.5% YoY in the first 20 days of June
  • Italy is said to be close to approving €6.3 billion bailout for Fiat Chrysler
  • Wirecard said that missing €1.9 billion may not exist at all
  • Precious metals gains along with industrial metals. Oil pulls back. Agricultural commodities trade lower
  • AUD and NZD are top performing major currencies while USD and JPY lag the most
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xtb
Posts: 141
 xtb
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Morning wrap

6:33 AM June 23, 2020
  • US indices finished yesterday;s session slightly higher. S&P 500 gained 0.65%, Dow Jones added 0.69% and Nasdaq closed 1.11% higher.

  • Stocks in Asia are posting small gains as well. Nikkei trades 0.9% higher, S&P/ASX 200 adds 0.1% and Kospi gains 0.5%. DAX futures point to a higher opening of the European cash session

  • Equities took a dive during Asian session when Peter Navarro said the trade deal with China is over. Comments were made during an interview with Fox. However, Navarro backtracked on these comment later on and equities fully recovered

  • Steven Mnuchin said that Trump still could consider an option of decoupling from China

  • European Commission President von der Leyen said that she is aware China targeted European hospitals and healthcare with cyberattacks during Covid-19 crisis

  • It is expected that the United States will announce aluminum tariffs on Canada.

  • Japan has reportedly given United Kingdom six weeks to agree on post-Brexit trade deal

  • Coronavirus count remains on the rise in some crucial US states, like for example Texas. Apart from that, Australia began registering community transmissions

  • Bloomberg reports that Spain plans to boost loan guarantee plan by additional €50 billion

  • Zurbruegg, member of Swiss National Bank, said that he is not concerned about risk of Switzerland being labelled currency manipulator by the United States

  • Preliminary PMIs from Japan for June showed manufacturing index at 37.8 pts (prev. 38.4) and services gauge at 42.3 (prev. 26.5)

  • Preliminary PMIs from Australia for June showed manufacturing index at 49.8 pts (prev. 44 pts) and services gauge at 53.2 (prev. 26.9)

  • Precious metals trade flat. Oil and industrial metals pull back

  • EUR, AUD and CHF are top performing major currencies while JPY and NZD lag the most

Total number of confirmed cases sits near 9.2 million after an almost 140 thousand increase yesterday. However, total recoveries stand just shy of 5 million. Source: worldometers, XTB

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xtb
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 xtb
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Morning wrap

6:37 AM June 24, 2020
  • US indices finished yesterday’s session higher with S&P 500 gaining 0.43% and Dow Jones adding 0.50%. Nasdaq jumped 0.74% and closed at the highest level on the record

  • Moods in Asia are mixed. Nikkei trades lower while S&P/ASX 200 and Kopsi gain. Indices from China trade without a common direction. DAX futures point to a slightly lower opening of the European cash session

  • Number of hospitalized Covid-19 patients in the United States continues to rise to new records. Tokyo found 55 new cases today. New clusters were found in Australia as well

  • South Africa plans to begin human trials for its Covid-19 vaccine this week

  • Reserve Bank of New Zealand left rates unchanged during a policy meeting. No change was also made to the size of QE programme

  • Steven Mnuchin said the United States consider delaying the tax filing deadline until September 15. 

  • US Commerce Department launched an antidumping investigation into imports of vehicle tires from Asia countries (South Korea, Taiwan, THailand and Vietnam)

  • CNN reported that Apple sold less phones in China in May 2020 than in April 2020

  • API report showed a 1.75 million barrel build in crude inventories

  • Precious metals trade higher along industrial metals and agricultural commodities. On the other hand, oil makes a minor pullback

  • AUD and CHF are top performers while NZD and JPY lag the most

Virus situation is not improving at all. New case data continues to show daily increases while hospitalizations in the United States near records. Source: worldometers, XTB

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xtb
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 xtb
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Morning wrap

6:43 AM June 25, 2020
  • US indices plunged yesterday on increased coronavirus concerns. S&P 500 finished 2.59% lower, Dow Jones dropped 2.72% and Nasdaq declined 2.19%.

  • Declines can also be spotted during the Asian session. Nikkei trades 1.2% lower, S&P/ASX 200 declines 2.1% and Kospi drops 1.8%. Chinese stock markets are shut for holiday. DAX futures point to flat opening of the European session

  • United States continue to see sharp increase in new coronavirus cases and hospitalizations. Houston may exceed ICU capacity this week. Nevada governor ordered citizens to wear face masks while some states began reimposing lockdowns

  • Peter Navarro said Trump may impose tariffs on China in case the country fails to buy enough US lobsters (part of Phase One trade deal)

  • Pentagon prepared a list of 20 companies with ties to Chinese military

  • Telecoms from Singapore chose Nokia and Ericsson to built 5g network in the country, in a blow to Chinese Huawei

  • The International Monetary Fund updated its 2020 growth forecast. The Fund expects global GDP to drop 4.9% (-3% previously)

  • New Zealand trade balance for May stood at NZ$1253 million (exp. NZ$1290 million)

  • 5.9 magnitude earthquake registered in New Zealand. No report on damages or casualties yet

  • Qantas Airways, Australian carrier, announced it will cut 6,000 jobs and ground 100 planes for 12 months

  • AUD and NZD are top movers while JPY and CHF pull back the most

  • Precious metals trade lower along with oil. Industrial metals trade mixed with copper dropping and zinc gaining

Continuing rise in new coronavirus cases prompted some US states to begin reimposing lockdowns. Source: worldometers, XTB

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xtb
Posts: 141
 xtb
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Morning wrap

6:18 AM June 26, 2020
• US indices managed to close higher yesterday. The Dow Jones added 300 points or 1.2% to 25,746. The S&P 500 gained 33 points or 1.1% to 3084. The Nasdaq jumped 108 points or 1.1% to 10,017.
 
• Positive moods can also be spotted during the Asian session. Nikkei trades 1.2% higher, S&P/ASX 200 rose 0.6% and Kospi gained 1.17%. Chinese stock markets are shut for holiday. DAX futures point to higher opening of the European session.
 
• The total number of confirmed coronavirus cases surpassed 9.71 million of which more than 491 000 died and over 5.25 million recovered.
 
• President Trump reassured that the coronavirus situation in the US is under control” Coronavirus deaths are way down. Mortality rate is one of the lowest in the World. Our Economy is roaring back and will NOT be shut down. “Embers” or flare ups will be put out, as necessary!” he said.
 
• Meanwhile, US reported 39,327 new coronavirus infections yesterday, which is a new daily record. Texas, Alabama, Missouri and Nevada reported record daily number on new infections
 
• CDC director says total coronavirus cases in the US are likely to be around 23 million ( according to official estimates number of cases in the US surpassed 2.5 mln)
 
• Australia reported highest number of new COVID-19 cases for 2 months today
 
• According to New Zealand Treasury forecasts, the unemployment rate will rise to 9% (previous forecast was 10%)
 
• New Zealand June consumer confidence  rose 7.4% m/m to 104.5, compare to 97.3 in May
 
• BOJ Gov Kuroda said that Japan Q2 GDP likely to see considerable contraction. BOJ looking likely to cut economic forecasts, not policy.
 
• Japan inflation indicator for June – Tokyo headline CPI 0.3% y/y. Expected 0.3%
 
• BOJ policy board member said that Central Bank will control rates in order to prevent collapse of the Japanese financial system
 
• The explosion outside Tehran – reports say it was a military base, or a power station
 
• Federal Reserve has banned bank share buybacks Q3
 
• Apple decided to reclose 32 stores
 
• Nike reported disappointing revenue, gross margin results
 
• USD and NZD are top movers while JPY and AUD pull back the most
Coronavirus continue to spread across the globe. US records its biggest one-day rise in COVID-19 cases. Source: worldometers, XTB
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xtb
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 xtb
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Morning wrap

6:31 AM June 29, 2020
  • Stocks in Asia launched a new week lower with S&P/ASX 200, Nikkei and Kospi dropping 2%. S&P 500 and DAX futures trade below Friday’s closing prices

  • Number of confirmed coronavirus cases topped 10 million over the weekend as the spread of the virus seems to be accelerating. More than half a million people died. 

  • Confirmed virus cases in the United States surpassed 2.5 million. Tokyo reported the most new coronavirus cases since the state of emergency was lifted. China imposed strict lockdown on around half a million people after new Covid-19 outbreak was found near Beijing

  • Covid-19 vaccine developed by CanSino Biologics, Chinese biotech, received a special approval for use within the military. Vaccine was developed together with research team from China’s army

  • According to UK Telegraph, EU-UK Brexit talks are set to enter intensive phase today

  • Japanese retail sales declined 12.3% YoY in May 

  • Chinese industrial profits increased 6% YoY in May. However, they are still down 19.3% YTD

  • Certification tests for Boeing 737 MAX planes are set to begin today

  • Chesapeake Energy, US shale driller, filed for bankruptcy

  • Precious metals trade higher, oil pulls back while industrial metals trade mixed

  • AUD and GBP are top movers among majors while USD and JPY lag the most

Coronavirus continues to spread fast around the world. United States face a massive increase with total US cases count surpassing 2.5 million. Source: worldometers, XTB

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xtb
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 xtb
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Morning wrap

6:37 AM June 30, 2020
  • US indices finished yesterday’s session higher as investors played down reimposition of lockdowns. S&P 500 gained 1.47%, Dow Jones added 2.32% and Nasdaq jumped 1.2%

  • Moods in Asia are upbeat as well. Nikkei, Kospi and S&P/ASX 200 gain around 2% each. Indices from China also advance but scale of move is smaller in this case. DAX and S&P 500 futures trade higher

  • Over 160,00 new Covid-19 cases were registered yesterday with United States seeing another 40,000+ new cases. Leicester, a UK city, reimposed lockdown. Kansas ordered state-wide mask mandate. LA county will keep beaches shut during the July 4 weekend. Arizona ordered bars, gyms and clubs to close for 30 days

  • BBC reported that a new strain of flu with “pandemic potential” has been identified in China. New disease is carried by pigs but is said to be able to transfer to humans

  • US Commerce Secretary Ross said that special treatment of Hong Kong is suspended. US Secretary of State Pompeo said that United States will impose restrictions on defense exports to Hong Kong

  • UK Prime Minister Johnson is set to unveil infrastructure spending plan worth 5 billion GBP

  • Ford, Adidas, HP, Clorox as well as a few other companies announced yesterday that they will stop buying ads on Facebook. Move comes amid growing criticism that social media company fails to stop hate speech on its platform

  • Preliminary industrial production data from Japan for May showed a 8.4% MoM drop, against expected drop of 5.6% MoM

  • PMI indices from China continued to show recovery in June. Manufacturing PMI moved from 50.6 to 50.9 pts while services gauge jumped from 53.6 to 54.4 pts

  • Oil makes a small pullback after strong gains yesterday. Precious metals advance while industrial metals trade mixed.

  • AUD and USD are top movers while JPY and CHF lag the most

Yesterday was the fifth day in a row when the United States reported more than 40,000 new Covid-19 cases. Source: worldometers, XTB

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xtb
Posts: 141
 xtb
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Morning wrap

6:37 AM July 2, 2020
  • US indices finished yesterday’s session mixed. S&P 500 gained 0.50% while Dow Jones dropped 0.30%. Nasdaq jumped 0.95% and finished at record high

  • Major Asian indices trade higher today. S&P/ASX 200, Kospi and indices from China book solid gains. Nikkei lags and trades more or less flat. DAX futures trade slightly above yesterday’s close

  • The United States confirmed 51 thousand new Covid-19 cases yesterday, the highest on record. Miami-Dade, Florida county with the highest population, issued a mask mandate. Reports surfaced saying that McDonald’s is pausing reopening plan in the United States due to new outbreaks

  • FOMC minutes showed that some central bankers think economy will need support for some time

  • Tokyo reported over 100 new Covid-19 cases for the first time in two months

  • US House passed a $1.5 trillion infrastructure bill but Donald Trump already said he will veto it

  • China asked 4 US news agencies to provide details on their finances and staff in China. This is retaliation for US aggression towards Chinese state media

  • United Kingdom offered a way to citizenship to 3 million Hong Kong citizens

  • European Union is in talks with Gilead Science to obtain Remdesivir for all member countries

  • Australian trade balance for May stood at A$8.02 billion (exp. A$9 billion)

  • Precious metals are making a minor pullback. Oil trades flat. Industrial metals trade mixed with copper gaining and aluminium trading lower

  • EUR and NZD are top performing major currencies while CAD and JPY lag the most

Yesterday saw the highest number of new confirmed Covid-19 cases since the pandemic began. United States alone reported more than 50,000 new cases.

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xtb
Posts: 141
 xtb
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Morning wrap

6:39 AM July 3, 2020
  • US indices finished yesterday’s session higher following a solid release of the NFP report. S&P 500 added 0.45%, Dow Jones gained 0.36% and Nasdaq jumped 0.52%

  • Stocks in Asia-Pacific are trading higher during the final session of the week. Nikkei gains 0.2%, Kospi trades 0.3% higher and Hang Seng rallies 0.6%. S&P/ASX 200 trades flat. Dax futures point to a flat opening of the European session

  • The United States reported over 57,000 on Thursday, setting a third record in a row. This was also the largest daily increase reported by any country. Texas ordered citizens to wear masks in public. Tokyo reported 120 new cases. Victoria state, Australian hotspot, reported smaller number of new cases than the day before

  • The United Kingdom will no longer require visitors from Germany, France, Italy and Spain to undergo quarantine. Easing will go live on July 10

  • White House is planning to set up a new coronavirus crisis pandemic office. Trump disbanded pandemic office of National Security Council in 2018

  • China will introduce a 12% tariff on beef coming from Australia. This is part of trade relationship between two countries and is not related to recent Australia-China tensions. Tariff will be in place until end-2020

  • North Korea expressed its support for China’s aggression against the United States

  • Australian retail sales increased 16.9% MoM in May (exp. 16.3% MoM)

  • China Caixin/Markit services PMI for June came in at 58.4 pts (exp. 53.8 pts)

  • Bears dominate on the commodity market on Friday. Precious metals, industrial metals and oil trade lower

  • NZD and AUD are leaders among major currencies while CHF and JPY lag the most

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xtb
Posts: 141
 xtb
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Morning wrap

6:28 AM July 6, 2020

• US futures futures point to a green open after long weekend, meanwhile stocks in Asia-Pacific started the week in positive moods. Nikkei gains 1.84%, Kospi trades 1.66% higher and Hang Seng rallies 3.57%. S&P/ASX 200 trades flat. Dax futures point to a lower opening of the European session

• The total number of confirmed coronavirus cases surpassed 11.56 million of which more than 536 000 died and over 6.53 million recovered

• Australia officials decided to close border between NSW and Victoria states due to rising number of coronavirus cases

• ECB President Lagarde spoke on Saturday. Head of ECB expects euro zone faces 2 years of disinflation

• According to recent reports  COVID-19 most likely did not start in China, as it turned out that Italy, Spain had it much earlier

• Coronavirus case spike sends Spain into second local lockdown in 24 hours

• Texas coronavirus hospitalizations at a record high, again – 7th day in a row

• Tokyo authorities urged residents not to travel beyond its borders

• Australia – Melbourne Institute monthly CPI inflation for June: 0.6% m/m (prior -1.2%)

• New Zealand – ANZ Commodity Price index for June: -0.7% m/m

• Hong Kong June PMI rose to 49.6 (prior 43.9) 

• Goldman Sachs forecast for US GDP growth revised down

• Kanye West announces he’ll be running for US President in 2020

• NZD and AUD are leaders among major currencies while CHF and CAD lag the most

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xtb
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 xtb
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Morning wrap

6:20 AM July 8, 2020
• US indices finished yesterday’s session in red. S&P 500 lost 1.5% while Dow Jones dropped 1.1%. Nasdaq finished 0.9% lower
 
• Major Asian indices trade mixed today. Nikkei fell 0.45%, Kospi trades 0.42% lower and Hang Seng rallies 0.4%. S&P/ASX 200 trades 1.4% lower. Dax futures point to a lower opening of the European session
 
• The total number of confirmed coronavirus cases surpassed 11.95 million of which more than 546 000 died and over 6.89 million recovered
Trump administration had warned a federally administered retirement plan for railroad workers against investing in Chinese companies, saying additional sanctions could be on the way in return for China’s role in spreading the coronavirus
• California reported at least 10,201 new COVID-19 cases yesterday. Total number of cases surpassed 283 000
• Los Angeles County reported over 4 000 new cases which is the biggest daily rise ever. Health Officials say young people make up half of new cases
• Texas reported over 10,000 new cases in just one day
• US is planning to place visa restrictions on some Chinese officials
• Australian coronavirus new cases dropped to 134 yesterday from 191 the day before. Australian government will provide further income support, extended beyond September
• The Australian Capital Territory (ACT) reports 3 new coronavirus infections for the first time in a month. ACT has imposed a travel restriction from the state of Victoria
• Tokyo again reported over 100 new infections, many of them among young people, however Japan chief cabinet secretary Suga announced that further easing on July 10 will proceed as planned
• BOJ says deposits and CDs at Japanese banks rose at their fastest ever in June
• China has opened a new national security agency office in Hong Kong
• Canada Federal Deficit is expected to exceed C$300 Billion  ($220 billion)
• UK Chancellor Sunak to unveil GBP 2bn recovery plan 
• UK Prime Minister Johnson said that UK is ready to leave EU without a trade deal
• According to API report US Crude stockpiles unexpectedly increased by 2 million barrels, while analysts’ expected a 3.7 million decline
• GBP and EUR are leaders among major currencies while NZD and AUD lag the most
The number of infections continues to rise very quickly. It is worrying that an increasing percentage of cases is being recorded among younger people. Source: worldometers, XTB
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xtb
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 xtb
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Morning wrap

6:08 AM July 9, 2020

• US indices finished yesterday’s session higher. S&P 500 added 0.8% while Dow Jones climbed 0.7%. Nasdaq finished 1.4% higher

• Risk-on moods can be spotted during the Asian session. Nikkei rose 0.8%, Kospi trades 0.9% higher and Hang Seng jumped 0.47%. S&P/ASX 200 trades 1.4% higher. Dax futures point to a slightly higher opening of the European session

• The total number of confirmed coronavirus cases surpassed 12.16 million of which more than 552 000 died and over 7.06 million recovered.

• Melbourne has officially gone into six-weeks lockdown. Meantime Victoria state reported  165 new coronavirus infections yesterday, while New South Wales recorded 13 new cases

• US reported over 60 000 new coronavirus cases

• Another Australian state Queensland closed its border with Victoria

• Tokyo reported 75 new coronavirus infections  yesterday, down from 106 on Tuesday

• Australian home loans data for May : -10.2% m/m (prior -5.0%)

• China inflation figures for June: CPI 2.5% y/y (expected 2.5%), PPI -3.0% y/y (expected -3.2%)

• New Zealand ANZ Truckometer for June : Heavy Traffic index +14.5% m/m (prior 86.9%)

• Japan Core Machinery Orders for May +1.7% m/m (expected -5.0%)

• UK RICS house price balance for June -15 vs. -32 in May

• China senior diplomat says China-US relations need a more positive message

• Australia government advises Australian citizens in Hong Kong to reconsider need to remain there given new security law.

• Australian government advises citizens not to travel to Hong Kong

• Australia is willing to offer visas to Hong Kong residents which are currently in Australia

• Bank of Japan Governor Kuroda says will not hesitate to add further easing if its needed

• Tokyo reported  M4.7 earthquake

• Shares of United Airlines fell after the company warned 36 thousand employees about potential jobs cuts

• EUR and NZD are leaders among major currencies while CHF and CAD lag the most

United States continue to see sharp increase in new coronavirus cases and hospitalizations. Number of  hospitalizations in Texas reached record high of 9,610.Source: worldometers, XTB

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xtb
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 xtb
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Morning wrap

6:36 AM July 14, 2020
  • US indices finished yesterday’s session lower. Moods deteriorated after some US states decided to halt reopening. S&P 500 dropped 0.94%, Nasdaq slumped 2.13% and Dow Jones finished 0.04% higher.

  • Declines can also be spotted on the Asian markets. Nikkei drops 0.9%, Kospi trades 0.6% lower and Chinese indices drop around 1.5%. S&P/ASX 200 trades 0.8% lower. DAX futures point to a big bearish price gap at the launch of European session

  • The United States reported 65 thousand new Covid-19 cases yesterday. California decided to ban indoor dining. Apple said it does not expect a full return to office this year. Travel restrictions on US-Mexico and US-Canada borders were extended

  • US military deployed extra medical teams do Texas to help the state handle pandemic

  • Japan will spend 2.2 billion JPY on disaster relief after recent heavy rainfalls

  • United States said that Chinese claims in South China Sea are unjustified and unlawful

  • Chinese imports increased 2.7% YoY in June while exports jumped 0.5% YoY (USD terms). Market expected a drop in both cases

  • Singapore GDP declined by an annualized 41.2% QoQ in Q2 2020

  • Japanese industrial production declined 8.9% YoY in May, more than expected

  • AUD and JPY are leaders among majors on Tuesday morning while CAD and CHF underperform the most

  • Precious metals decline with palladium being an exception. Apart from that, bears also dominate on oil and industrial metals market

Some US states, including California, decided to roll back reopening amid a spike in new Covid-19 cases. Source: worldometers, XTB Research

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xtb
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 xtb
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Morning wrap

6:34 AM July 15, 2020
  • US indices recovered from initial declines and finished session higher. S&P 500 closed 1.34% higher, Dow Jones surged 2.13% and Nasdaq added 0.94%.

  • Stocks in Asia are trading higher as well after Moderna said that its vaccine showed promising results in early human trials. Nikkei trades 1.5% higher, S&P/ASX 200 gains 1.8% and Kospi advances 0.9%. Indices from China trade lower

  • Trump signed a bill sanctioning China over Hong Kong actions. China will implement sanctions on US individuals and entities

  • Trump also said he is not interested in another trade deal with China right now and that more actions against Asian country is coming

  • Texas and California reported a record number of new Covid-19 cases yesterday. Tokyo government advised citizens to avoid non essential travel outside the city. Australia and New Zealand may delay decision on so-called travel bubble

  • Bank of Japan left monetary policy settings unchanged during today’s meeting as was widely expected by the markets

  • Recent media reports suggest that UK can make face masks mandatory in all public spaces, not only shops

  • API reported pointed to a 8.3 mb draw in oil inventories (exp. -2.2 mb)

  • AUD and NZD are top movers among majors while CHF and JPY drop on increase in risk appetite

  • Silver gains while other precious metals lag. Brent and WTI post small gains along with industrial metals

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xtb
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 xtb
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Morning wrap

6:40 AM July 16, 2020
  • Indices from Wall Street had a volatile session yesterday but managed to finish the day higher. S&P 500 gained 0.91%, Dow Jones added 0.85% and Nasdaq closed 0.59% higher.

  • Moods during the Asian session are less upbeat. Nikkei and S&P/ASX 200 trade 0.9% lower, Kospi declines 1.1%. Indices from China trade 1-2% lower. DAX futures point to a lower opening of the European session

  • Chinese GDP increased 11.5% QoQ in Q2 2020 (exp. 9.6% QoQ). Retail sales dropped 1.8% YoY in June while industrial production increased 4.8% YoY. Urban investments were 3.1% YoY lower

  • Australian employment increased 210.8k in June (exp. +112.5k). Australian Prime Minister said, however, that employment is likely to drop in July due to re-impose restrictions

  • Donald Trump is reportedly considering banning CCP members from entering United States

  • Chinese President Xi said his country will provide favourable business environment for investment

  • A major Twitter hack occurred overnight. Numerous verified accounts were hacked and asked for free cryptocurrencies

  • USD and CAD are top movers among majors while GBP and AUD lag the most

  • Precious metals, industrial metals and oil trade lower on Thursday morning. Some gains can be spotted on soybean and corn

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 xtb
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Morning wrap

6:39 AM July 17, 2020
  • Major indices from Wall Street finished yesterday’s session lower with S&P 500 dropping 0.34%, Dow Jones declined 0.50% and Nasdaq plunged 0.73%.

  • Equities trades mixed during the final Asian session of the week. Nikkei and S&P/ASX 200 trade lower while Kospi and Nifty gain. Chinese indices trade without common direction.

  • DAX futures point to a flat opening of the European session

  • Texas reported over 10,000 new coronavirus cases yesterday but state governor said that lockdown is not an option

  • According to media reports, United States are mulling blacklisting TikTok out of concern that China uses the app to gather personal data

  • Tsunami alert was issued after a 7.3 magnitude earthquake off the coast of Papua New Guinea

  • China plans to introduce measures aimed at boosting consumption, including handing out of “consumption coupons” and subsidising auto purchases

  • More intense rainfall season in China cause some Chinese provinces to declare red alert as floods disrupted local supply chains

  • United Kingdom and United States agreed to work together on 5G solutions

  • New Zealand’s manufacturing PMI jumped from 39.8 to 56.3 pts in June

  • Netflix reported weaker than expected Q2 earnings. EPS came in at $1.59 (ex. $1.81) while revenue reached $6.15 billion (exp. $6.08 billion). The company also issued a weaker than expected guidance for the year

  • AUD and NZD are top movers among majors while CAD and CHF lag the most

Almost 249 thousand new coronavirus cases were reported around the world yesterday. This is a new daily record. Source: worldometers, XTB

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