Morning wrap (12.01.2021)

7:34 AM 12 January 2021
  • US indices finished yesterday's trading lower with tech stocks taking the biggest hit. S&P 500 dropped 0.66%, Dow Jones declined 0.29% and Nasdaq finished 1.25% lower.

  • Mixed moods could have been spotted during the Asian trading hours. S&P/ASX 200 dropped 0.3%, Nikkei gained 0.2%, Kospi declined 0.9% and indices from China traded mostly higher

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

  • Fed's Kaplan said that he expects that discussions about tapering QE will begin this year if substantial progress is made

  • Japan mulls providing 400 thousand yen to small firms hit hard by the pandemic

  • Japan considers declaring a state of emergency in 3 more prefectures due to coronavirus. Malaysia has declared a state of emergency. Micronesia reported the first Covid-19 case. New Zealand tightened rules for testing people arriving into the country

  • Goldman Sachs expects Brent price to reach $65 this summer

  • UK Chancellor of the Exchequer Sunak said that UK economy will continue to lose momentum before situation improves

  • According to media reports, European Union prepares a Airbus-Boeing trade offer for Biden Administration

  • According to media reports, Canadian PM Trudeau may make changes to his cabinet today

  • Precious metals make big gains. Oil is trading higher as well

  • GBP and NZD are top performing major currencies while CHF and JPY lag the most

  • Bitcoin recovered towards $36,000

Almost 580 thousand new coronavirus cases were reported yesterday. Source: worldometers, XTB

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