Morning wrap

8:30 am 14 October 2020

  • US indices finished yesterday's trading with moderate losses. Dow Jones dropped 0.55%, S&P 500 declined 0.63% and Nasdaq closed 0.10% lower. Russell 2000 dropped 0.61%

  • Downbeat moods can be spotted on the Asian markets. S&P/ASX 200 declines 0.3%, Kospi drops 0.9% and Nifty trades 0.6% lower. Nikkei trades flat. Indices from China decline

  • DAX futures point to a slightly lower opening of the European session

  • Republicans proposed a $500 billion stimulus deal but Democrats are reportedly against lowering their demands

  • Coronavirus vaccine trial of Eli Lilly was paused due to safety concerns

  • Netherlands agreed on a partial lockdown of the country. Media suggest that United Kingdom may decide on a 2-week lockdown as well

  • Bloomberg reports that no progress was made in the EU-UK talks this week

  • Saudi Crown Prince Salman and Russian President Putin will urge OPEC+ not to ease output cuts

  • Chinese President Xi said that development of Mainland China will be integrated with Hong Kong and Macao

  • Japanese industrial production increased 1% MoM in August (exp. +1.7% MoM)

  • Precious metals advance amid risk-off moods. Oil and industrial metals decline

  • AUD and NZD are top moving major currencies while GBP and CHF lag the most

Over 310 thousand new coronavirus cases were reported yesterday. Source: worldometers, XTB

The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.

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