Morning wrap 17.02.2021

  • US indices finished yesterday’s trading slightly lower. S&P 500 dropped 0.06%, Nasdaq declined 0.34% and Russell 2000 finished 0.72% lower. On the other hand, Dow Jones gained 0.20%

  • Stocks in Asia also traded lower. Nikkei dropped 0.58% while S&P/ASX 200 declined 0.46%. Kospi is trading around 0.9% lower at press time

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

  • Total number of confirmed coronavirus cases exceeded 110 million. Over 2.4 people died while almost 85 million recovered

  • Biden said that every American who wants coronavirus vaccine will get a shot by the end of July 2021

  • US Treasury Secretary Yellen and ECB President Lagarde spoke about boosting jobs and economic growth in Europe and the United States

  • Janet Yellen also spoke with the EU trade commissioner Dombrovskis and said that US is ready to re-engage in talks on international taxation

  • RBA Assistant Governor Kent said that without quantitative easing AUD would be 5% higher

  • Oil output in the Permian Basin dropped by around a third due to recent arctic weather. Texas is coping with energy blackout and has warned that fuel shortages start to develop in some parts of the state

  • Japanese exports jumped 6.4% YoY in January (exp. 6.6% YoY) while imports declined 9.5% YoY (exp. -6% YoY)

  • Japanese core machinery orders increased 5.2% MoM in December

  • Bitcoin retested $50,000 during Asian trading hours but was unable to break above it

  • Oil trades more or less flat after recovering from an overnight drop. Gold and platinum decline. Agricultural commodities advance

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