• Indices from Asia-Pacific traded lower today. Nikkei plunged 2.35%, S&P/ASX 200 dropped 1.2% and Kospi moved 1.35% lower. Stock markets in China also moved lower. Hong Kong market is close due to public holiday
• US futures trade below Friday's cash close
• European futures point to a lower opening of today's cash session
• Morgan Stanley and Goldman Sachs both expect more substantial equity sell off
• Shanghai is tightening its COVID-19 lockdown in some districts
• ECB Holzmann said two or even three steps to hikes would be appropriate this year
• PBOC will launch a $15 billion relending facility to support the transport, logistics and storage sectors
• China’s trade surplus surged to $51.12 billion in April, beating market forecasts of $50.65 billion.
• UK plans to increase tariffs on imports of platinum, palladium from Russia and Belarus
• G7 nations pledge to ban or phase out Russian oil.
• Saudi Arabia cut the price of its Arab Light crude grade to Asia and Europe
• Cryptocurrencies trade lower - Bitcoin fell 2.8% while Ethereum trades 3.0% lower
• Brent and WTI oil are trading 1.40% higher
• Precious metals pull back amid USD strengthening, with palladium being top laggard (-3%)
• CAD and USD are the best performing major currencies while NZD and AUD lag the most
USDCNH pair broke above major resistance at 6.72 and reached its highest level since November 2020. Source: xStation5
Daily summary: Wall Street rebounds after the sell-off 🔼 US dollar strengthens on solid NFP data, oil prices fall
BREAKING: US NFP much stronger than expected 📈 US Dollar and treasuries yields surge
EURUSD loses ground ahead of NFP
BREAKING: BoE raises interest rates by 25pbs to 4%⏰