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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 (15.09.2021)

06:47 15 September 2021
  • Stocks in Asia trade lower following a release of disappointing data from China. Kospi is one of the few indices from the region that trades higher

  • Chinese monthly data for August turned out to be a disappointment. Retail sales increased 2.5% YoY (exp. 7.2% YoY), industrial production was 5.3% YoY higher (exp. 5.8% YoY) while urban investments increased 8.9% YoY (exp. 9.2% YoY)

  • Both European and US index futures trade flat compared to yesterday's cash closing prices

  • Gary Gensler, chief of US SEC, said that he would support legislation that would allow for faster delisting of Chinese companies that do not comply with disclosure rules

  • According to Japanese Coast Guard, North Korea has launched another two missiles into the Sea of Japan

  • Hyundai plans to suspend auto production from September 15 to September 17 due to semiconductor shortage

  • Japanese core machinery orders increased 0.9% MoM in July (exp. 3.0% MoM)

  • API report suggested a 5.44 million barrel draw in oil inventories (exp. -3.8 mb)

  • Moods on the commodity markets are mixed. Precious metals drop, oil and industrial metals gain while agricultural goods trade mixed

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

In spite of a miss in the Japanese core machinery orders data, Japanese yen is one of the strongest major currencies today. As a result, USDJPY broke below the downward trendline that marks the lower limit of the ascending triangle pattern. The next near-term support to watch can be found in the 109.30 area. Source: xStation5

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