Morning wrap (08.12.2021)

6:30 AM December 8, 2021
  • US indices finished yesterday's trading higher. S&P 500 gained 2.07%, Dow Jones added 1.40% and Nasdaq moved 3.03% higher. Russell 2000 jumped 1.94%
  • Upbeat sentiment prevails in Asia. Nikkei surged 1.40%, S & P / ASX 200 added 1.25% and Kospi jumped 0.41%. Indices from China also moved higher
  • DAX futures point to a higher opening of the European cash session
  • President Biden warned President Putin that the West would impose strong economic and other measures on Russia if it invades Ukraine
  • Evergrande stock price hit an all-time low after the developer again missed its debt payment deadline
  • Other Chinese developer Kaisa also misses bond payment
  • Japan Q3 GDP (second reading) -0.9% q / q vs -0.8% expected
  • Factory sentiment in Japan rose to a four-month high of 22 in December
  • Japan October current account +1180 vs + 1308.5B expected
  • US API crude oil stock change 3.089million vs 2.093 million expected, previously -0.747 million Bitcoin is trading above $50,000 handle, while Ethereum is testing $4350 level
  • Oil price fell slightly, while precious metals move higher 
  • AUD and EUR are the best performing majors. CAD and USD lag the most

US100 managed to break above the upper limit of the downward channel, which may indicate the end of the downward correction and resumption of the main upward trend. Currently the index is approaching resistance at 16,470 pts, should break higher occur, upward move may accelerate towards all-time high at 16,775 pts. Source: xStation5

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