Morning wrap (16.04.2021)

6:47 AM 16 April 2021
  • US indices finished yesterday's session at record highs. S&P 500 gained 1.11%, Dow Jones added 0.90%, Nasdaq jumped 1.31% and Russell 2000 moved 0.42% higher

  • Stocks in Asia traded higher as well. Nikkei and Kospi gained 0.1% while indices from China traded 0.2-0.5% higher. S&P/ASX 200 was trading slightly lower

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

  • Chinese economy grew 0.6% QoQ in Q1 2021 (exp. 1.5% QoQ). Industrial production in March was 14.1% YoY higher (exp. +17.2% YoY), retail sales were 34.2% YoY higher (exp. 28% YoY) while urban investments increased 25.6% YoY (exp. 25% YoY)

  • Russian Foreign Ministry said that use of US dollar and western payments systems is being questioned amid recent sanctions

  • Pfizer said that a third shot of its vaccine may be needed 9-12 months after the first shot. The company also did not rule out a need of taking shots annually

  • Turkey has banned use of cryptocurrencies for payments, starting from April 30

  • Bitcoin trades near $61,000

  • Precious metals trade mixed, industrial metals decline while oil gains

  • EUR and CAD are the best performing major currencies while AUD and GBP lag the most

OIL continues recovery from mid-March declines. Brent is testing resistance zone at $67.15, marked with 61.8% retracement of a recent downward move. Source: xStation5

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