CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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. 77% 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 (12.05.2021)

06:35 12 May 2021
  • US indices deepened declines yesterday. S&P 500 dropped 0.87%, Dow Jones moved 1.36% lower, Russell 2000 declined 0.26% and Nasdaq finished 0.09% lower

  • Asian equities mimic poor performance of US stocks. Nikkei and Kospi drop around 1.5% while S&P/ASX 200 trades almost 1% lower. Indices from China lag as well

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

  • Fighting in the Middle East intensified. United Nations Special Envoy to Middle East said that Israel and Palestine are heading for a full-scale war and urged for de-escalation

  • Pipeline network on the US East Coast has not been restarted yet. Authorities ask citizens to avoid panic buying of gasoline. It is said that 20% gas station in Atlanta are already out of fuel

  • Taiwan will reimpose restrictions on outdoor and indoor gatherings, ban eating and drinking in public transport as well as switch large student groups back to remote learning. Decision comes after new Covid-19 outbreaks were reported

  • According to Commonwealth Bank of Australia, Australia is at risk of having its rating lowered from AAA to AA+

  • China threatened to ban Ericsson from Chinese 5G network building process unless Sweden lifts its ban on Huawei

  • API report pointed to a 2.53 million barrel decline in US oil inventories (exp. -2.8 mb)

  • Precious metals trade lower. Industrial metals, oil and agricultural goods gain

  • US dollar gains against all major peers amid pick-up in Middle East tensions. ND and AUD are the worst performing major currencies

AUDUSD is taking a hit today. On one hand, AUD is pressured by risk of Australian rating downgrade. On the other hand, USD gains on safe haven flows amid the situation in the Middle East. The pair is testing support at 0.78. 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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