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.

Morning wrap (05.05.2021)

06:48 5 May 2021
  • US indices dropped yesterday following hawkish comments from US Treasury Secretary Yellen. S&P 500 dropped 0.67%, Nasdaq slumped 1.88% and Russell 2000 declined 1.28%. Dow Jones closed 0.06% higher

  • Stocks in Asia traded higher. S&P/ASX 200 gained 0.4% while Kospi moved 0.6% higher. Stock exchanges in China and Japan were shut for holiday

  • DAX futures point to a higher opening of the European session

  • Janet Yellen attempted to back track on her yesterday's comments. US Treasury Secretary said that she is not trying to forecast Fed's rate path and that she strongly believes in Fed's independence

  • Fed's Kaplan repeated that tapering discussion should begin

  • US Federal Aviation Administration is seeking more clarity on 737 MAX issues before allowing Boeing's jets to take off again

  • New Zealand labour market report for Q1 showed a 0.6% QoQ employment increase (exp. +0.1% QoQ). Unemployment rate dropped from 4.9 to 4.7% (exp. 4.9%)

  • Australia's building approvals jumped 17.4% MoM in March (exp. +3% MoM)

  • API report pointed to a 7.69 million barrel drop in oil inventories (exp. -2.2 mb)

  • Bitcoin trades slightly above $54,000 mark

  • Precious metals trade mixed - gold and silver drop while platinum and palladium gain

  • Industrial metals, oil and agricultural goods trade higher

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

NZDUSD experienced a strong sell-off yesterday. Daily low was reached slightly above the zone ranging around 0.7100 handle and the pair began to recover later on. Upward move is being continued today thanks to a solid jobs report. The near-term resistance to watch for the pair can be found at 0.7235. 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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