Morning wrap (13.06.2022)

8:52 am 13 June 2022

  • Indices from Asia-Pacific launched new week's trading lower. Nikkei dropped 3.0%, S&P/ASX 200 pulled back 1.2% while Kospi slumped 3.2%. Indices from China traded 0.6-3.2% lower

  • European and US index futures trade lower. DAX futures trade 200 points below Friday's cash close

  • Beijing is experiencing a renewed spike in Covid-19 cases. Authorities in the city decided to cancel some sporting activities and events

  • 5 out of 25 districts in Shanghai have been locked down over the weekend

  • Libya oil minister said that country's daily output dropped by 1.1 million barrels amid oil field closures

  • Cryptocurrencies experienced a strong sell-off over the weekend with drop continuing today. Bitcoin drops 6% lower on the day and trades slightly above $25,000, Ethereum drops 8%

  • Downward move on cryptocurrency markets is being fuelled by news from Celsius Network. Cryptocurrency lending and borrowing company said it suspends all withdrawals, transfers and swaps

  • South Korean exports were 12.7% YoY lower in the first 10 days of June while imports were 17.5% YoY higher. Semiconductor exports increased 0.8% YoY. Exports to China were 16.2% YoY lower

  • US dollar is gaining ground against major FX peers. EURUSD dropped below 1.05 while USDJPY jumped above 135.00 for the first time in 24 years

  • Precious metals pull back amid USD strength. Platinum is the worst performer with a 1.4% drop

  • Oil pulls back amid broad risk-off moods. Brent and WTI trade 1.1% lower on the day

Ethereum slumped below a $1,715 support zone on Friday and continued to move lower throughout the weekend. The coin is currently testing $1,330 support zone - the lowest price levels in over 15-months! 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.