Morning wrap (30.12.2021)

9:53 am 30 December 2021

  • US indices finished yesterday's trading slightly higher. S&P 500 gained 0.14%, Dow Jones moved 0.25% higher and Russell 2000 added 0.12%. Nasdaq was a laggard and closed 0.10% lower

  • Mixed moods could have been spotted on the exchanges in Asia-Pacific region. Nikkei and Kospi dropped 0.4% each, S&P/ASX 200 traded flat while indices from China gained up to 1%

  • DAX futures point to a flat opening of the European cash session today

  • ECB's Visco said that ECB will not finish tapering before 2023 and that he expects inflation to gradually slow to 2% target

  • Saudi King Salman is in favour of continuing OPEC+ output agreement. Next meeting of oil producers is scheduled for Tuesday, January 4

  • United Kingdom reported a record 183 thousand new Covid cases yesterday

  • Micron Technologies said that output of some of its memory chips will be lower due to lockdown in Chinese Xi'an city

  • South Korea industrial production increased 5.9% YoY in November (exp. 3.2% YoY)

  • AUD and GBP are the best performing major currencies while CHF and EUR lag the most

  • Turkish lira continues to slide after last week's rapid appreciation. USDTRY moved back above 13.00

  • Bitcoin dropped below $46,000 during the Asian session. However, major cryptocurrency managed to regain ground and is now trading near $47,000

  • Precious metals trade lower while oil and industrial metals advance

Turkish lira is one of the few assets that experiences bigger price moves in the post-Christmas trading. USDTRY began to recover this week on the back of lira's weakness and the pair has already managed to revisit the 13.00 area. However, upward move has been halted for now by the 38.2% retracement of the recent, massive plunge. Source: xStation5

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