Morning wrap (02.03.2021)

• US indices booked solid gains during Wall Street session yesterday. S&P 500 gained 2.38%, Nasdaq rallied 3% and Dow Jones added 1.95%. Russell 2000 surged 3.37%

• Downbeat moods can be spotted in Asia. Nikkei dropped 0.8%, S&P/ASX 200 declined 0.4% and indices from China moved lower. Kospi gained 1%

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

• AUD is trading slightly higher after RBA left interest rates and monetary policy settings unchanged. Central bank does not expect tight labour market until at least 2024

• Hawkesby from RBNZ said that the Bank may cut cash rate or boost bond purchases if needed

• South Korea readies extra budget of 15 trillion won to support small businesses, protect jobs and buy more vaccines

• According to Platts, Russia and Saudi Arabia disagree over the pace of returning oil production

• CBOE seeks approval to list Bitcoin ETF in the United States

• Japan's capital spending declined 4.8% YoY in Q4 2020 (exp. -2% YoY)

• Australia's building approvals plunged 19.4% MoM in January (exp. -3% MoM)

• Japan's unemployment rate remained at 2.9% in January (exp. 3%)

• Bitcoin trades near $48,000

• Precious metals pull back with silver and platinum taking the biggest hit. Oil trades slightly lower

• AUD, USD and JPY are top performing major currencies while NZD, CAD and GBP lag

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