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05:50 · 13 April 2021

Morning wrap (13.04.2021)

GBP/NZD
Forex
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  • US indices finished yesterday's trading lower. Dow Jones dropped 0.16%, Nasdaq declined 0.36% and Russell 2000 moved 0.43% lower. S&P 500 closed 0.01% higher

  • Stocks in Asia traded mixed. Nikkei and Kospi gained while S&P/ASX 200 moved lower. Indices from China traded mixed

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

  • Fed Bullard said that 75% vaccination rate could be enough to start discussion about tapering. Fed Rosengren said that rate hike is at least 2 years away

  • White House said that Biden is not in favour of increasing gas tax by 5 cents

  • According to a Bloomberg report, US Treasury will not label China as a currency manipulator during its upcoming semi annual FX report

  • Chinese imports increased 38.1% YoY in March (exp. +21.6% YoY) while exports were 30.6% YoY higher (exp. +32.7% YoY)

  • Bitcoin trades slightly above $60,000

  • Precious and industrial metals trade lower amid USD strengthening. Oil gains while agricultural commodities trade mixed

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

GBPNZD pulled back almost 2% from recent local high but has managed to find support at the upward trendline. The pair has managed to recover almost half of recent losses already. Source: xStation5

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