Morning wrap (02.02.2021)

7:33 AM 2 February 2021
  • US indices finished yesterday's trading higher. S&P 500 gained 1.61%, Dow Jones added 0.76% and Nasdaq rallied 2.55%

  • Stocks in Asia traded higher as well. Nikkei gained 1%, S&P/ASX 200 added 1.5% and Kospi moved 1.4% higher. Indices from China advanced

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

  • Silver is trading lower after COMEX announced increase in margin on silver futures trading

  • Reserve Bank of Australia left interest rates unchanged and said that they are not expected to rise until 2024

  • Meeting between Biden and Republican senators did not result in an agreement. Differences remain but follow-up meetings are expected

  • China called on the United States to put their relationship back on predictable and constructive track

  • Bitcoin trades slightly below $34,000 mark

  • Oil is trading higher while precious metals are moving lower

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

Less than 400 thousand new coronavirus cases were reported yesterday for the second day in a row. Source: worldometers, XTB

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