Morning wrap (02.05.2022)

8:49 am 2 May 2022

  • Indices from Asia-Pacific traded mixed today. Nikkei gained 0.2%, S&P/ASX 200 dropped 1.2% and Kospi moved 0.4% lower. Stock markets in China were closed for holidays

  • US futures trade little changed compared to Friday's cash close

  • European futures point to a lower opening of today's cash session

  • According to the Times, Russia is preparing for a takeover of Moldova. After a successful takeover, Russia will use territory of the country to launch offensive at Ukrainian port of Odessa

  • According to Financial Times report, US and UK held high level talks on China risk to Taiwan

  • According to German Economy Ministry report, Germany may be ready to end dependence on Russian oil by the end of summer

  • ECB's de Guindos said that a rate hike in July is a possibility but a rather unlikely one

  • Japanese manufacturing PMI for April dropped from 54.1 to 53.5 pts (exp. 53.4 pts)

  • Cryptocurrencies trade higher - Bitcoin gains 1.8% while Ethereum trades 1.9% higher. Ripple jumps almost 4%

  • Oil is trading a touch lower while natural gas gains

  • Precious metals pull back amid USD strengthening, with palladium being top laggard (-2%)

  • CAD and USD are the best performing major currencies while NZD and JPY lag the most

Nikkei (JAP225) was one of the few indices to gain during today's cash session in Asia. However, the index failed to break above the 27,000 pts resistance zone, just as it was the case on Friday. While weak JPY is supporting domestic exporters, reluctance of BoJ to act may damage investors' sentiment towards Japan. Source: xStation5

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.

Share:
Back

Join over 1 600 000 XTB Group Clients from around the world.