Morning wrap (16.02.2021)

• Stock markets in Asia gained for another day. S&P/ASX 200 added 0.7%, Nikkei jumped 1.3% and Kospi moved 0.4% higher

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

• According to Financial Times, China mulls imposing curbs on rare earth exports to the US defence sector. News caused Asian indices as well as US and European futures to trim gains ahead of the European session

• WTI and Brent has rallied to fresh 1-year highs as blackouts have disrupted energy markets in Texas, US shale hub. Blackouts were caused by cold weather that made demand for energy skyrocket and caused some of the US refineries to shut operations

• US service member and five civilian contractors have been injured in a rocket attack in Erbil, Iraq. One civilian contractor has been killed. Iran is said to be behind the aggression

• RBA minutes showed that central bankers think that significant monetary stimulus will be needed for some time

• Bank of Japan Governor Kuroda said that BoJ will continue with current policy in order to support the economy and that ETF purchases are still needed

• Bitcoin reach a fresh all-time high at around $49,700 during Asian session

• GBP is one of the best performing major currencies after PM Johnson announced that government will present a plan for easing restrictions on February 22

• JPY and USD are the worst performing major currencies. Precious metals and agricultural goods advance

262 thousand new coronavirus cases were reported yesterday and 6.5 thousand deaths. Source: worldometers, XTB