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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% 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.

Morning wrap (01.07.2022)

06:02 1 July 2022
  • Wall Street indices had another poor session yesterday. S&P 500 dropped 0.88%, Dow Jones moved 0.82% lower and Nasdaq slumped 1.33%. Russell 2000 dropped 0.66%

  • Global equity sell-off continued during the Asian session. Nikkei dropped 1.6%, S&P/ASX 200 traded 0.1% lower and Kospi plunged 1.4%. Indices from China traded 0.5-0.7% lower

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

  • Further deterioration in market moods is fueled by the latest reading of Atlanta Fed GDP indicator, which now points to a US GDP contraction in Q2 2022

  • Libya’s National Oil Corporation said that daily oil output in the country is almost 1 million barrels lower. Exports dropped 865k bpd

  • The Ecuadorian government has reached an agreement to end protests. Authorities hope to lift oil exports limits by July 7

  • Chinese manufacturing PMI, private Caixin/Markit survey, jumped from 48.1 to 51.7 in June (exp. 50.2). This was the highest reading since May 2021

  • Japanese unemployment rate ticked higher in May, from 2.5 to 2.6% (exp. 2.5%)

  • New Zealand building permits dropped 0.5% MoM in May (exp. -0.6% MoM)

  • Cryptocurrencies jumped on rumors that the Japanese regulator may allow trust banks to manage cryptocurrencies. Bitcoin is trading 3.5% higher at $19,400

  • Brent and WTI trade around 1% lower while gold drops 0.5%

  • JPY and USD are the best performing major currencies while AUD and NZD lag the most

AUDJPY, a FX pair often seen as a risk barometer, is slumping today. The pair plunged below 38.2% retracement of recent upward move and 200-period moving average (purple line, H4 interval) and is now testing support zone at 50% retracement in the 0.9200 area. Source: xStation5

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