Morning wrap (25.05.2021)

8:33 am 25 May 2021

  • US indices finished yesterday's session higher. S&P 500 rose 0.54%, Dow Jones added 0.99% and Nasdaq finished 1.41% higher. Russell 2000 advanced 0.68%
  • Stocks in Asia traded higher today. Nikkei gained 0.46%, S&P/ASX 200 added 0.61% and Kospi rose 0.7%. Indices from China also moved higher
  • DAX futures point to a slightly higher opening of the European session
  • Turkey has removed one of four central bank deputy governors
  • Japan finance minister Aso confirms extension of zero-interest loan scheme
  • US State Department advised US citizens against travelling to Japan
  • EU will introduce sanctions against Belarus after hijacking of the Ryanair flight over the weekend
  • Australian trade balance April (preliminary) surplus of 10.1bn AUD
  • Australia consumer sentiment for the week: 114.2 (previous 112.5)
  • US 10-year bond yields dropped to 1.602% after Federal Reserve officials affirmed their support to keep monetary policy accommodative 
  • Elon Musk talked with Bitcoin miners of North America, where they agreed to reveal current and planned usage of renewable energy 
  • Bitcoin trades below 38,000 USD, Ethereum jumped above $2,500
  • NZD and GBP are the best performing major currencies while JPY and USD lag the most

USDTRY finished yesterday's session lower, however sellers failed to uphold momentum and the pair bounced off the lower limit of the triangle formation. The nearest resistance lies at 8.40. However if sellers manage to regain control , then another downward impulse towards support at 8.28 may be launched. Source: xStation5

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