Morning wrap (11.06.2021)

• US indices traded higher yesterday with S&P 500 making a record close. Nasdaq gained 0.78%, S&P 500 added 0.47% and Dow Jones finished 0.06% higher. Russell 2000 dropped 0.68%

• Moods in Asia were mixed. S&P/ASX 200 and Kospi gained, Nikkei traded flat and indices from China moved lower

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

• According to UK Times report, UK Prime Minister Johnson considers a 4-week delay to lifting Covid restrictions

• South Korean exports increased 40.9% YoY during the first 10 days of June while imports were 31% YoY higher. Chip exports increased 37.5% YoY

• New Zealand manufacturing PMI increased from 58.4 to 58.6 pts in May

• Bitcoin trades near $37,000 mark

• Oil is trading slightly lower after Saudi Arabia reported higher oil output in May, signalling an end to voluntarily output cut

• Precious and industrial metals trade higher

• EUR and CHF are the best performing major currencies while JPY and NZD lag the most

OIL.WTI pulled back slightly after data showed that Saudi Arabia withdrew its voluntary output cut faster than expected. A double top pattern at $70.60 can be spotted on the H4 chart. Source: xStation5