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US indices finished yesterday's trading lower. S&P 500 dropped 1.15%, Dow Jones moved 0.52% lower and Nasdaq slumped 2.26%. Russell 2000 dropped 2.11%
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Indices from Asia are also taking a hit. Nikkei drops 1.8%, Kospi pulls back 1.1% and indices from China traded 0.8-1.3% lower. Australian S&P/ASX 200 is outperformer with 0.1% gain
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DAX futures are pointing to a lower opening of the European cash session
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EURUSD approaches parity levels (1.00 area). A 1.0005 area was tested overnight and again this morning but the pair failed to break below
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China reported a jump in new Covid cases. Wugang city in Hunan Province was put into a 3-day lockdown.
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Fed's Bostic said that policy still remains accommodative and that economy can withstand another 75 basis point rate hike at next meeting
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White House Press Secretary Karine Jean-Pierre said that another highly elevated CPI reading is expected this week amid increase in gas prices
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Russia allowed operations to resume at the CPC oil terminal on Black Sea, exporting oil primarily from Kazakhstan
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Cryptocurrencies are pulling back but scale of the moves is relatively small. Bitcoin drops 1% and trades near $20,000. Ethereum trades 2.6% lower and drops below $1,100
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Oil, as well as other energy commodities, pulls back. Brent and WTI trade around 1.4% lower at press time
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US dollar strength continues to pressure precious metals. Gold drops 0.3% while silver trades 0.6% lower
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USD and JPY are the best performing major currencies while GBP and EUR lag the most
EURUSD approaches 1.00 area. Parity levels were not seen on the pair since late-2002. A looming gas crisis in Europe, that is likely to trigger recession, and ECB's delayed tightening is playing a major role in the sell-off. EURUSD monthly interval. Source: xStation5
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