Morning wrap (09.02.2022)

9:58 am 9 February 2022

  • In spite of a pick-up in yield, US indices finished yesterday's trading higher. S&P 500 gained 0.84%, Dow Jones moved 1.06% higher, Nasdaq added 1.28% and Russell 2000 jumped 1.63%

  • 10-year US yield climbed to 1.95%

  • Upbeat moods extended into Asian trading with major indices from the region gaining as well. Nikkei and S&P/ASX 200 moved 1.1% higher, Kospi gained 0.8% and indices from China traded 0.8-1.9% higher

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

  • Fed's Daly said she favors rate hike in March but central bank cannot be too aggressive

  • BoJ's Nakamura said that conditions for rate higher were not met yet and that hiking before wages begin to grow steadily would be a mistake

  • According to Kommersant report, Russia may soon recognize digital assets as currencies

  • According to JPMorgan, Bitcoin fair value is around $38,000 

  • API report pointed to a 2.0 million barrel drop in US oil inventories (exp. +0.7 mb)

  • Precious metals trade mixed - gold and silver gain while palladium and platinum drop

  • Oil continues pullback with Brent and WTI dropping 0.7% each

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

US500 bounced off the support zone in the 4,450 pts area, marked with 200-session moving average and previous price reactions. US index is now eyeing a test of the resistance zone ranging above 4,550 pts handle. 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.