Read this before you start trading today!

  • US indices finished yesterday’s trading lower. S&P 500 dropped 0.85%, Dow Jones declined 0.78%, Nasdaq moved 0.56% lower and Russell 2000 slipped 0.73%

  • Downbeat moods could have also been spotted in Asia. Nikkei dropped 1.6%, S&P/ASX 200 moved 2% lower and indices from China traded declined more than 0.5%

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

  • Cryptocurrencies continued to slide with Bitcoin dropping below $39,000

  • According to Reuters report, China banned financial institutions from offering cryptocurrency services

  • According to Politico report, European Union may decide to freeze investment agreement with China due to sanctions on China being in place

  • Closure of Canadian-US border for non-essential travel has been extended for another month (until June 21)

  • Australian wage growth reached 0.6% QoQ in Q1 2021 (exp. 0.5% QoQ)

  • Japanese industrial production increased 3.4% YoY in March (exp. 4% YoY)

  • API report pointed to a 0.62 million barrel build in oil inventories (exp. +1.7 mb)

  • Precious metals, oil, industrial metals and agricultural goods trade lower

  • EUR and GBP are the best performing major currencies while NZD and AUD lag the most

US100 failed to break above the 38.2% retracement and a lower high was painted as a result. Index is testing the support zone ranging around 50% retracement and press time (15,135 pts) and breaking below it may pave the way for a test of recent lows in the 12,950 pts area.