Morning wrap (10.08.2021)

• US indices finished yesterday's trading lower. S&P 500 dropped 0.09%, Dow Jones moved 0.30% lower and Russell 2000 declined 0.58%. Nasdaq gained 0.16%

• Situation during the Asian trading session was mixed. Nikkei and S&P/ASX 200 gained while Kospi and indices from China dropped

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

• Fed's Rosengren said that Federal Reserve should annonce taper in September and begin it later this year

• People Bank of China said that the jump in producers' inflation is temporary.

• China's Daily reported that PBOC may have to cut reserve requirement ratio or interest rates in order to stimulate growth

• China reported the highest number of new Covid-19 cases since the beginning of a year. New cases in Australia's New South Wales have hit a record high

• Japanese media report that Prime Minister Suga may seek another stimulus package, this time worth around $270 billion

• Bitcoin climbed above $45,000 mark

• Gains can be spotted all across the commodity markets. SIlver trades 1.5% higher while oil gains almost 1%

• EUR and GBP are the best performing major currencies while NZD and CHF lag the most

Silver gains over 1.5% today. Precious metal took a hit yesterday along with gold and slumped. However, price jumped over 5% off yesterday's low and eyes a test of the $23.80 swing area. Source: xStation5