Morning wrap (01.02.2021)

• Stock markets in Asia are trading higher at the beginning of a new week. Nikkei gains 1.5%, S&P/ASX 200 adds 0.8% and Kospi jumps 2.7%

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

• Silver jumped 7% as dealers started to report shortages in physical supply. Other precious metals followed higher with platinum advancing 4% and gold trading over 1% higher

• Joe Biden will meet with 10 Republican senators today to discuss economic relief package

• According to Japanese media, state of emergency in the country may be extended until early-March

• Philip Lane, Chief Economist at ECB, said that stock and bank-bond purchases are not in ECB's toolbox

• New York city imposed restrictions on non-essential travel due to incoming snow storm

• Goldman Sachs expects 0.9 mbpd deficit on oil market in H1 2021, up from 0.5 mbpd in the earlier forecast

• China's manufacturing PMI for January came in at 51.5 (exp. 52.7)

• Bitcoin trades slightly above $33,500, following overnight rally

• Oil trades slightly higher at the beginning of a new week

• NZD and AUD are top performing major currencies while CHF and USD lag the most

Total coronavirus case count reached 103.5 million. Over 75 million people recovered. Source: worldometers, XTB