CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% 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. 74% 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 (14.10.2021)

06:56 14 October 2021
  • US indices finished yesterday's trading higher. S&P 500 gained 0.30%, Nasdaq moved 0.73% higher while Dow Jones finished flat

  • Upbeat moods could have been spotted on the Asian stock exchanges with Nikkei and Kospi jumping over 1% today. S&P/ASX 200 gained 0.5%

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

  • FOMC minutes showed that Fed members see launching tapering this year as appropriate with monthly purchases being reduced by $15 billion per month

  • Fed's Bowman prefers tapering to begin in November

  • Chinese CPI inflation slowed from 0.8% to 0.7% YoY in September (exp. 0.9% YoY). PPI inflation accelerated from 9.5 to 10.7% YoY (exp. 10.5% YoY)

  • Turkish President Erdogan fired 3 CBRT policymakers, who opposed rate cuts. Turkish lira slumped to a new record low against US dollar

  • OPEC lowered the global oil demand forecast for 2021. Cartel expects demand to grow by 5.8m bpd, down from previous estimate of 5.96m bpd

  • Japanese industrial production dropped 3.6% MoM in August (exp. -3.2% MoM)

  • Australian jobs report for September showed a drop in employment by 138k (exp. -136k). Unemployment rate ticked higher from 4.5 to 4.6% (exp. 4.8%)

  • API report pointed to a 5.21 million barrel build in oil inventories (exp. +0.1 mb)

  • Bitcoin tested $58,500 area overnight but failed to break above

  • Precious metals pull back slightly while oil and industrial metals gain

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

After a brief pause in Q3 2021, the rally on the USDTRY market resumed. Controversial decision of Turkish president Erdogan to fire 3 CBRT members that opposed rate cuts provided another lift for the pair and caused an over-1% jump late in the evening yesterday. The pair moved 11% higher off the September's low. Source: xStation5

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