07:38 · 7 December 2020

Morning wrap (07.12.2020)

  • Asian equities traded mixed on the first session of the week. Nikkei dropped 0.7%, S&P/ASX 200 added 0.6%, Kospi gained 0.5% and indices from China moved lower

  • DAX futures point to lower opening of the European session

  • Contradicting reports on Brexit surfaced over the weekend. Media reported that EU and UK found a solution on fisheries. However, such claim was later rejected by another media report quoting UK government official

  • According to media reports, French President Macron and German Chancellor Merkel have agreed to soften demand in EU-UK talks

  • United States are readying sanctions on more Chinese companies and officials

  • Bipartisan group of senators is reportedly set to unveil a $908 billion economic relief bill today

  • Chinese exports rose 21.1% YoY in November (exp. +12% YoY) while imports increased 4.5% YoY (exp. 6.1% YoY)

  • A record 686 thousand new coronavirus cases were reported on Friday, December 4

  • Small ranges prevail on the commodity markets. Oil is trading a touch higher while precious metals trade mixed

  • JPY is the best performing major currency while GBP lags. However, ranges on the FX market are narrow as well

A new record number of daily coronavirus cases has been reported on Friday. Source: worldometers, XTB

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