Morning wrap (26.08.2021)

6:41 AM 26 August 2021
  • US indices finished yesterday's trading at new record levels. S&P 500 gained 0.22%, Dow Jones added 0.11%, Nasdaq moved 0.15% higher and Russell 2000 jumped 0.37%

  • Stocks in Asia traded mostly lower. Nikkei traded flat, Kospi and S&P/ASX 200 dropped 0.6% and indices from China traded over 1% lower

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

  • More than 1,000 new Covid-19 cases were reported in New South Wales today. According to media reports, two major hospitals in Sydney decided to stop accepting new patients due to limited capacity

  • Bank of Korea delivered the first 25 basis point rate hike in three years. BoK plans to deliver another one in November 2021

  • Australia's private capital expenditures increased 4.4% QoQ in Q2 2021 (exp. 2.4% QoQ)

  • Bitcoin trades below $47,000 mark

  • Commodities drop for the second day in a row. Declines can be spotted on the precious metals, industrial metal, oil and agricultural markets

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

Bitcoin failed to break above the resistance zone marked with the 61.8% retracement of the downward move launch in April 2021 ($50,000 area). The coin pulled back after a failed attempt and dropped below the $47,000 mark. Bitcoin is currently testing a support zone marked with the 50% retracement ($46,500 area). Source: xStation5

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