CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Daily summary: Global stocks rebound after yesterday's "Cryptocrash'

19:18 20 May 2021
  • Europe’s major markets finished session higher
  • Upbeat US claims report
  • Tech stocks rebound

European indices finished today's session higher as optimism in the US helped to spark a rally in afternoon trading. Also news that EU countries agreed to lift some of the COVID-19 travel restrictions on non-EU visitors also lifted market sentiment.  On the data front, inflation concerns increased after German producer prices reached the highest level in nearly a decade. DAX30 rose 1.7%, CAC40 gained 1,29% and FTSE100 finished 1% higher.

Upbeat moods can be spotted at Wall Street  as technology shares staged a comeback, while weekly jobless claims hit their lowest level since the start of a pandemic which also boosted sentiment. Investors also appear to shrug off worries over a rise in inflation and an early pull back in Fed's monetary stimulus. While cryptocurrencies are trying to erase some of the recent losses, the US Treasury Department announced today that it is taking steps to crack down on cryptocurrency markets and transactions, and said it will require any transfer worth $10,000 or more to be reported to the Internal Revenue Service. At the same time FED is moving forward in its efforts to develop its own digital currency, announcing Thursday that it will release a research paper this summer that explores the move further.

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WTI crude fell more than 2.4 % and is trading around $61.80 a barrel, while Brent is trading 2.5% lower around $65.00 a barrel as the US-Iran nuclear talks reportedly will enter the 5th phase early next week. If both sides reach an agreement, this could result in sanctions on Tehran being lifted and more supply coming to the market. Elsewhere gold rose 0.5% to $ 1,880.00 / oz, while silver is trading 0.55% higher, below $ 28.00 / oz amid weaker dollar and lower Treasury yields, with the benchmark 10-year rate dropping to an over one-week low of 1.62%.

US30 rose sharply today, however buyers struggle to break above the major resistance zone at 34112 pts, which coincides with 50 SMA ( green line) and upper limit of the triangle pattern. Source: xStation5

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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