-
Indices from Asia-Pacific traded mostly higher today. Nikkei gained 0.6%, Nifty 50 added 0.2% while Kospi traded 0.5% lower. Indices from China traded up to 0.5% higher
-
European index futures point to a higher opening of the cash session on the Old Continent today
-
US index futures trade little changed compared to Friday's cash session close
-
Chinese stocks were supported by news of some commercial banks deciding to cut rates on deposits, joining state-owned banks which cut last week. This is seen as a strong signal that People's Bank of China will cut rates at next meeting
-
Bank of America sees chance of Fed pushing rates to 6% over the next 12 months
-
Goldman Sachs cut its December Brent price forecast from $95 to $86 per barrel. Bank reasons decision with increased output from Russia, Iran and Venezuela as well as increased recession fears
-
UBS said it has completed takeover of Credit Suisse
-
New Zealand retail sales dropped 1.7% MoM in May (exp. +0.3% MoM)
-
Japanese PPI inflation dropped from 5.8 to 5.1% YoY in May (exp. 5.6% YoY)
-
Cryptocurrencies are trading lower today - Bitcoin drops 0.9%, Ethereum trades 1.3% lower and Dogecoin slumps 1.5%
-
Energy commodities trade mixed - Oil drops 1.4% while US natural gas prices gain 0.4%
-
Precious metals pull back - silver drops 0.3%, platinum declines 0.4%, palladium dips 0.2% and gold trades flat
-
AUD and EUR are the best performing major currencies while CHF and CAD lag the most
Chinese indices traded slightly higher today after more Chinese banks cut rates, in a sign that PBoC may do the same. While majority of Chinese indices still trade higher on the day, CHNComp has erased all of the gains already and is trying to break back below the 200-session moving average (purple line). 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.
