Morning wrap

5:30 AM October 14, 2020
  • US indices finished yesterday's trading with moderate losses. Dow Jones dropped 0.55%, S&P 500 declined 0.63% and Nasdaq closed 0.10% lower. Russell 2000 dropped 0.61%

  • Downbeat moods can be spotted on the Asian markets. S&P/ASX 200 declines 0.3%, Kospi drops 0.9% and Nifty trades 0.6% lower. Nikkei trades flat. Indices from China decline

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

  • Republicans proposed a $500 billion stimulus deal but Democrats are reportedly against lowering their demands

  • Coronavirus vaccine trial of Eli Lilly was paused due to safety concerns

  • Netherlands agreed on a partial lockdown of the country. Media suggest that United Kingdom may decide on a 2-week lockdown as well

  • Bloomberg reports that no progress was made in the EU-UK talks this week

  • Saudi Crown Prince Salman and Russian President Putin will urge OPEC+ not to ease output cuts

  • Chinese President Xi said that development of Mainland China will be integrated with Hong Kong and Macao

  • Japanese industrial production increased 1% MoM in August (exp. +1.7% MoM)

  • Precious metals advance amid risk-off moods. Oil and industrial metals decline

  • AUD and NZD are top moving major currencies while GBP and CHF lag the most

Over 310 thousand new coronavirus cases were reported yesterday. Source: worldometers, XTB


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