Morning wrap (26.02.2021)

07:27 26 February 2021
  • US indices plunged yesterday amid a spike in yields. Nasdaq dropped 3.52%, Dow Jones declined 1.75%, S&P 500 slumped 2.45% and Russell 2000 plunged 3.69%.

  • Sell-off continued during the Asian session. Nikkei dropped almost 4%, S&P/ASX 200 declined 2.3% and Kospi slumped 3%. Indices from China trade lower

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

  • US 10-year yields sit slightly below 1.5%

  • US Senate said that Biden's $15 minimum wage proposal cannot be part of economic relief package

  • Japan will lift state of emergency in Osaka and western areas

  • Reuters reports that United States carried out airstrike on  Iranian-backed fighters in Syria

  • RBNZ Governor Orr that the New Zealand dollar is near fair value. He said that RBNZ is able to stimulate further and that negative rates remain an option

  • Japan's industrial production increased 4.2% MoM in January (exp. 4% MoM). Retail sales declined 0.5% MoM (exp. -1.2% MoM)

  • Private sector credit in Australia increased 0.2% MoM in January (exp. 0.3% MoM)

  • Bitcoin is recovering from a daily low at $45,000

  • Precious metals, oil, agricultural commodities and industrial metals trade lower.

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

A small pick-up in new cases can be spotted with more than 400,000 new cases being reported in each of the past two days. Source: worldometers, XTB

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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