Morning wrap (11.01.2021)

• Stocks in Asia are trading lower at the start of a new week. S&P/ASX 200 dropped 0.9%, Kospi moved 0.1% lower and indices from China declined. Nikkei was closed for holiday

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

• Joe Biden plans to present details of multi-trillion economic package on Thursday

• Bitcoin has moved almost 20% off the all-time highs over the weekend and trades near $34,000

• Total coronavirus cases count has crossed 90 million

• United States will remove self-imposed restrictions on relations with Taiwan. Move is likely to enrage China. US is also considering taking steps over the latest arrests in Hong Kong

• Second impeachment proceedings against Trump may be launch as soon as this week

• Reserve Bank of New Zealand has fallen a victim to a hackers' attack

• South Korean exports increased 5.8% YoY in the first 10 days of January

• Australian retail sales increased 7.1% MoM in November

• Chinese CPI inflation accelerated to 0.2% YoY in December (exp. 0.1% YoY)

• Declines can be spotted on the commodity markets amid broad risk-off moods. Oil, precious metals and agricultural commodities are trading lower

• USD and JPY are top moving major currencies while AUD and NZD can be found among top laggards

Total coronavirus case count has exceeded 90 million over the weekend. Source: worldometers, XTB