Morning wrap (21.04.2021)

• US indices finished yesterday's session lower. S&P 500 dropped 0.68%, Dow Jones declined 0.75%, Nasdaq slipped 0.92% and Russell 2000 plunged 1.96%

• Stocks in Asia trade mixed. Nikkei dropped around 2%, S&P/ASX 200 moved 0.6% lower, Kospi plunged 1.5% while indices from China traded slightly higher

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

• Japanese media reports that Covid-19 state of emergency may be imposed in Tokyo, Osaka and Hyogo

• Turkish President Erdogan fired Trade Minister Ruhsar Pekcan. Reasoning behind the decision is unknown yet

• South Korea exports increased 45.4% YoY in the first 20 days of April. Imports were 31.3% YoY higher during the period

• New Zealand CPI inflation accelerated from 1.4% YoY to 1.5% YoY in Q1 2021

• API report pointed to a 0.436 mb increase in oil inventories (exp. -2.8 mb)

• Netflix dropped more than 10% in the after-hours trading following release of Q1 2021 results. US streaming company reported revenue of $7.163 billion (exp. $7.137 billion) and EPS of $3.75 (exp. $2.975). Company added 3.98 million subscribers (exp. 6.29 million)

• Bitcoin pulled back below $55,000

• Precious metals and agricultural goods trade higher. Industrial metals trade mixed while oil pulls back

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

Gold continues upward move this week following a break above the upper limit of the trading range and 50-session moving average (green line). Local peak from late-February at $1,810 marks a near-term resistance. Source: xStation5