CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% 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. 81% 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 (26.05.2022)

06:31 26 May 2022
  • US indices finished yesterday's trading higher after the release of the FOMC's May meeting minutes showed no signs that FED could turn more hawkish to curb rising inflation. S&P 500 rose 0.95%, Nasdaq jumped 1.51% while Dow Jones gained 0.60%
  • Indices from Asia-Pacific are traded mixed today. Nikkei dropped 0.15%, S&P/ASX 200 and Kospi fell 0.55% and 0.12% respectively while indices from China traded mostly higher. 

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

  • Shanghai port restored 95% capacity, according to Chinese state media

  • PBOC urges banks to increase credit to small and medium-sized enterprises (SMEs)

  • Number of companies which plan to relocate out of China have hit a decade high, according to WSJ

  • South Korea's central bank hikes interest rate by 25bp to 1.75% now

  • Apple plans hike pay for hourly workers due to tight labour market

  • RBNZ Gov Orr said that central banks wants to move rates quickly

  • Majority of cryptocurrencies trade mostly lower. Bitcoin fell 0.50%, Ethereum dropped 1.6%

  • Brent and WTI trade 0.6-0.7% higher

  • Precious metals pull back slightly. Gold lost 0.50%, while silver fell 0.80%

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

CHNComp  took a hit this week amid worsening economic situation in China. If current sentiment prevails, support at 6500 pts may be at risk. Source: xStation5

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