Morning wrap (22.07.2021)

• US indices finished yesterday's trading higher. S&P 500 gained 0.82%, Dow Jones added 0.83% and Nasdaq moved 0.92% higher. Russell 2000 rallied 1.81%

• Stocks in Asia trade higher as well. S&P/ASX 200 added 0.9%, Kospi moved 1% higher and indices from China gained around 0.2%. Traders from Japan were off for holiday

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

• US Senate voted against starting debate on bipartisan infrastructure bill

• Fitch affirmed South Korea's rating at "AA-" with a stable outlook. Rating agency also expects Bank of Korea to deliver 25 basis points rate hike in the second half of 2021 and two 25 basis points rate hikes in 2022

• According to preliminary data, Australian exports increased 8% YoY in June while imports were 8% YOoY higher as well. A record surplus of A$13.3 billion was recorded

• 1 terabyte of data from Saudi Aramco was stolen by hackers. According to Associated Press, a $50 million ransom demand was made for deleting data

• Bitcoin trades slightly below $32,000 mark

• Precious metals and oil trade lower. Industrial metals trade mixed

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

NZDJPY is one of the worst performing FX pair today. The pair has failed to deliver a break above the 200-session moving average and a pullback can be observed today. 75.60 area is a key support to watch as breaking below would paint a lower low an hint at continuation of downtrend. Source: xStation5