Morning wrap (07.02.2022)

7:22 AM 7 February 2022
  • Stocks in Asia traded mixed with Nikkei fell 0.78% and S&P/ASX 200 dropping 0.14%. Kospi lost 0.32% while indices from China advanced more than 1%
  • US futures trade slightly higher 
  • DAX futures point to higher opening of the European cash session
  • Biden restores Iran civilian nuclear sanctions relief in sign of deal progress
  • Saudi Aramco raised its prices to Asia from February
  • Australia to reopen its borders to double vaccinated tourists on February 21st
  • China locks down Baise city after an Omicron outbreak
  • ECB's Knot sees first interest rate hike in Q4 2022
  • China Caixin/Markit PMIs Services for January 51.4 (prior 53.1)
  • Australia Retail Sales (ex inflation) +8.2% q/q for Q4 2021 (vs. est 7.8%, prior -4.4%)
  • Australia services PMI for January 56.2 (prior 49.6)
  • Cryptocurrencies are trading higher today. Bitcoin jumped above  $42,770 while Ethereum trades above $3,090
  • Precious metals and oil prices rose at the beginning of the week
  • CAD and AUD are the best performing major currencies while EUR and JPY lag the most

US100 fell sharply during Friday's session, however buyers managed to erase most losses after sellers failed to break below support at 14350 pts. Currently the index is testing an earlier broken lower limit of the downward channel. Source: xStation5

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