Morning wrap (28.06.2021)

• Stocks in Asia are trading mostly lower at the beginning of a new week. Nikkei and Kospi drop 0.2% while S&P/ASX 200 trades 0.1% lower. Indices from China decline

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

• Fed Rosengren said that the United States cannot afford a boom-and-bust situation in the housing market. However, he said he does not say there will be a bust in the housing market

• Stock exchange in Hong Kong remained closed for Asian morning trade due to a weather alert. Bourse resumed trading during Aisan afternoon session

• United States carried out an airstrike on militia-controlled weapon storage facilities in Iraq and Syria

• Chinese industrial profits increased 36.4% YoY in May 2021

• Chinese authorities ordered Tesla to fix software in 280k cars in China. Update can be done remotely in most cases

• Bitcoin recovered above $34,000 mark

• Precious metals trade higher. Oil and industrial metals drop

• GBP, JPY and AUD are the best performing major currencies while CHF,CAD and EUR are laggards

BITCOIN painted a double bottom near the $30,000 area and launched a recovery move. Neckline of the pattern at around $34,750 is a key near-term resistance to watch. Source: xStation5