Morning Wrap (21.08.2024)

8:40 am 21 August 2024

  • Indices from the Asia-Pacific region are experiencing a slightly upward session. Chinese indices are gaining between 0.05% and 0.15%, the Japanese Nikkei 225 index is up 0.85%, the Australian S&P/ASX200 is trading 0.60% higher, and futures contracts on the Singapore index SG20cash are gaining 0.05%.

  • Futures contracts on European indices are also pointing to a higher opening of the cash session. The DAX is gaining 0.20%, and the UK100 is up 0.50%.

  • On the forex market in the first part of the day, one of the stronger currencies is the Australian dollar. Meanwhile, the Japanese yen is once again experiencing significant losses, with declines reaching 0.3% to 0.5%. USDJPY is gaining 0.40%, returning above 145.7000.

  • Japan's trade balance shrank more than expected in July. The deficit amounted to 621.8 billion yen (4.2 billion USD), exports in July grew by 10.3% year-on-year, below expectations of a 11.4% increase, while imports grew by 16.6% year-on-year, exceeding the expected 14.9% growth and significantly accelerating from the 3.2% recorded in the previous month.

  • The unexpectedly lower export figures were due to ongoing disruptions in industrial production, while improving local demand also caused an increase in imports.

  • The six-month annualised growth rate of the Westpac-Melbourne Institute's index of leading indicators in Australia rose to +0.06%, signalling a slight improvement in economic momentum. The report highlighted that the economy faces challenges, but economic activity is improving.

  • Former US President Barack Obama today expressed his support for Kamala Harris in a late speech on stage at the Democratic National Convention.

  • Walmart (WMT.US) seeks to raise up to 3.74 billion dollars by selling its shares in the Chinese e-commerce company JD.com (JD.US). According to the report, Walmart intends to focus on its own operations in China.

  • The cryptocurrency market is slightly rebounding after yesterday's collapse in the second half of the day. Bitcoin is gaining 0.60% to 59,400 USD, Ethereum 0.80% to 2,590 USD, and the rest of the Altcoin market is gaining 0.05%, bringing the total capitalization to 575 billion USD.

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.