Morning wrap (03.09.2021)

8:43 am 3 September 2021

  • US indices finished yesterday's trading higher. S&P 500 gained 0.28%, Dow Jones added 0.37% and Nasdaq moved 0.14% higher. Russell 2000 gained 0.74%

  • Stocks in Asia traded mostly higher. Nikkei rallied 2%, S&P/ASX 200 added 0.4% and Kospi moved 0.7% higher. Indices from China traded mixed

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

  • Japanese Prime Minister Suga will resign. Suga won't run in upcoming elections for leadership in the Liberal Democratic Party either

  • According to Telegraph report, UK Prime Minister Johnson will announce tax hikes next week to fund overhaul of the UK social care

  • Russian Gazprom will allow China to pay for fuel in yuan instead of US dollars

  • Chinese services PMI (Caixin/Markit) dropped from 54.9 to 46.7 in August (exp. 52.6)

  • Australian retail sales dropped 2.7% MoM in July, in-line with expectations

  • Bitcoin trades near $49,500 mark following wild overnight prices swings

  • Precious metals trade higher while moods on the oil, industrial metals and agricultural goods markets are mixed

  • AUD and NZD are the best performing major currencies while JPY and CHF lag the most

Nikkei (JAP225) popped higher on the news that PM Suga will resign. Nikkei is the best performing blue chips index in China today. Index delivered a break above the downward trendline today and reached the highest level since mid-June 2021. 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.