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 (17.05.2021)

06:40 17 May 2021
  • Stocks in Asia are trading mixed at the beginning of a new week. Nikkei trades 0.8% lower, S&P/ASX 200 gained 0.3%, Kospi drops 0.5% and indices from China trade higher

  • DAX futures point to a more or less flat opening of the European cash session

  • US futures trade lower after the weekend

  • Taiwan stock index dropped over 3% following jump in coronavirus cases over the weekend and tightening of restrictions. Prime Minister asked relevant authorities to prepare to stabilise equity and FX markets

  • Cryptocurrencies slumped over the weekend after Elon Musk suggested via Twitter that Tesla may sell or may have already sold its Bitcoin holdings 

  • Chinese industrial production increased 9.8% YoY in April (exp. 9.8% YoY), retail sales were 17.7% YoY higher (exp. 24.9% YoY) while urban investments rose 19.9% YoY (exp. 19.1% YoY)

  • Kia and Hyundai will halt some car production for 2 days due to chip shortage

  • Precious metals, oil and industrial metals trade higher. Agricultural goods trade mixed

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

BITCOIN plunged over the weekend on the back of Elon Musk's remarks. The main cryptocurrency dipped below previous local low at $46,600 and is now testing 61.8% retracement of the upward impulse launched in late-January ($42,500). Source: xStation5

This content has been created by X-Trade Brokers Dom Maklerski S.A. This service is provided by X-Trade Brokers Dom Maklerski S.A. (X-Trade Brokers Brokerage House joint-stock company), with its registered office in Warsaw, at Ogrodowa 58, 00-876 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. X-Trade Brokers Dom Maklerski 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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