Morning wrap (08.04.2021)

• US indices finished yesterday's trading mixed. S&P 500 gained 0.15%, Dow Jones added 0.05%, Nasdaq finished 0.07% lower, a Russell 2000 dropped 1.60%

• Indices in Asia traded mostly higher. S&P/ASX 200 gained 0.9%, Kospi added 0.1% and indices from China moved higher. Nikkei dropped 0.2%

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

• Biden said he is ready to discuss proposals with corporate tax rate lower than 28%

• There were no mentions of policy tightening or QE tapering in FOMC minutes

• United States may announce further sanctions against Russia for interfering in elections

• ECB Chief Economist Lane said that inflation is volatile due to pandemic but remains low. Central banker added that supportive monetary policy must be continued

• Japanese media report that the country's authorities mull imposing stricter coronavirus restrictions in Tokyo and other regions once again. New Zealand suspended entry from India due to Covid-19

• Australia's trade minister vowed to protect Australia's interest amid continued trade bullying from China

• Bitcoin is trying to climb above $57,000

• Precious metals advance with gold testing $1,740 mark. Oil and agricultural commodities pull back slightly. Industrial metals gain

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

Gold attempts to recover after painting a double bottom pattern at $1,680. Precious metal is testing the resistance zone at $1,740, that has halted the previous recovery attempt. Źródło: xStation5