Morning wrap (16.06.2021)

• US indices finished yesterday's trading lower. S&P 500 dropped 0.20%, Dow Jones declined 0.27% and Nasdaq plunged 0.71%. Russell 2000 closed 0.26% lower

• Equities in Asia traded mixed. Nikkei and indices from China dropped, S&P/ASX 200 traded flat and Kospi gained

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

• Pentagon considers setting up a naval task force aimed at countering China's growing role in the Pacific

• RBNZ added house price control tools to its tool kit, such as limits on debt-to-income ratio

• According to Bloomberg report, China ordered state companies to limit exposure to overseas commodity markets

• Japanese core machinery orders increased 0.6% MoM in April (exp. 2.6% MoM)

• API report pointed to a 8.56 million barrel decline in oil inventories (exp. -2.9 mb)

• Bitcoin trades near $40,000 mark

• Precious metals trade mixed - gold and silver gain while platinum and palladium drop. Oil trades higher. Industrial metals drop

• AUD and NZD are the best performing major currencies while CHF, JPY and USD lag the most

Kospi (KOSP200) was one of the few Asian indices to trade higher today. The South Korean benchmark once again approached the resistance zone in the 435 area, marked with the upper limit of an ascending triangle pattern. Source: xStation5