Morning wrap (08.04.2024)

8:33 am 8 April 2024

  • Indices from Asia-Pacific traded mostly higher today - Nikkei gained 0.7%, S&P/ASX 200 added 0.2%, Kospi moved 0.3% higher and Nifty 50 jumped 0.5%
  • Indices from China traded 0.1-0.8% lower. Hang Seng was outperformer, trading 0.1% higher
  • European and US index futures trade slightly lower at the beginning of a new week
  • People's Bank of China will set up a 500 billion yuan lending program (around $70 billion) to support technology sector
  • According to media reports, Iran has informed United States that it will refrain from retaliating against Israel for Damascus airstrike if Gaza ceasefire is reached
  • In other media, it was reported that a temporary Gaza ceasefire may be reached as soon as this week, with Hamas and Israeli sending negotiators to Egypt for fresh talks
  • PIMCO now expects only 2 Fed rate cuts this year following strong US jobs data on Friday
  • According to Bank of America, should oil price spike above $100 per barrel, central banks may abandon rate cuts
  • Meanwhile, Goldman Sachs said that Brent oil staying below $100 per barrel is its base case scenario
  • Engine cover fell off a Boeing 737-800 plane operated Southwest Airlines during take off, setting Boeing stock for a potential pressure this week
  • Major cryptocurrencies trade higher at the beginning of a new week - Bitcoin and Ethereum gain 0.7% while Dogecoin jumps 1.3%
  • Oil pulls back as no Iran retaliation against Israel took place over the week. Brent and WTI drop around 1.3% at press time
  • Precious metals gains - gold adds 0.6%, silver rallies 1.5%, platinum gains 0.2% and palladium jumps 0.7%
  • AUD and NZD are the best performing major currencies, while CHF and JPY lag the most

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.