Read this before you start trading today!

  • US indices finished yesterday’s session slightly higher. S&P 500 gained 0.14%, Dow Jones added 0.07% and Nasdaq finished 0.14% higher. 
  • Stocks in Asia traded higher today. Nikkei rose 0.47%, S&P/ASX 200 advanced 0.59% and Kospi gained 0.94%. Most indices from China also moved higher
  • DAX futures point to a slightly higher opening of the European session
  • Bitcoin trades around  38,200 USD, Ethereum slightly below 2,800 USD
  • USD is the best performing major currency while JPY, NZD and AUD lag the most
  • Australia Retail Sales for April, final, +1.1% m/m (as expected)
  • Germany reports 4,640 new coronavirus cases, 166 deaths in latest update, total active cases is seen falling further to ~85,000 – the lowest since October last year. 
  • Media reports Apple is requesting staff return to the office 3 days a week from September
  • Private oil survey data shows large headline draw in crude oil inventory (-5,360M)

Oil prices continue to move higher after the API report. Both Brent and WTI are up by more than 0.7%. Looking at the daily interval on OIL.WTI, the $70.45 could be the next target for buyers (161.8% Fibonacci retracement of recent downward correction).