Morning Wrap

  • US indices slumped yesterday as Treasury yields jumped. S&P 500 dropped 1.83%, Dow Jones moved 1.51% lower and Nasdaq slumped 2.60%. Russell 2000 plunged 3.06%
  • Indices from Asia-Pacific followed into footsteps of their US peers and also moved lower. Nikkei slumped 2.8%, S&P/ASX 200 moved 1% lower and Kospi dropped 0.7%. Indices from China traded lower
  • DAX futures point to a lower opening of the European cash session
  • Oil prices jumped after an oil pipeline between Iraq and Turkey was shut down following an explosion. Brent reached overnight high near $89 per barrel
  • Members of Conservative Party want to trigger a confidence vote in Prime Minister Boris Johnson and oust him from the post
  • White House spokesperson said that US administration has tools to combat rising oil prices and that it can engage with OPEC if needed
  • According to OPEC monthly report, cartel does not expect Omicron or tighter monetary policy to derail oil demand
  • According to Telegraph report, UK authorities will lift Covid restrictions today
  • Precious metals trade mixed – gold trades flat, silver gains while platinum and palladium drop
  • JPY and NZD are the best performing major currencies while USD and CAD lag the most
  • Cryptocurrencies trade slightly lower. Bitcoin dropped below $42,000 while Ethereum tests $3,100 area

Oil prices leaped higher on the news that the largest Iraqi oil pipeline has been shut down due to an explosion. Brent (OIL) reached a daily high near $89 per barrel. However, part of the gains was erased already and oil is trading slightly lower on the day. Source: xStation5

Share this post

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Technical Analysis

Chart of the day: US2000

Market interest rates continue to rise with the US 10-year Treasury yield hovering near 1.9%. While higher rates are usually seen as negative for the

Read More »
Market Update

Morning Wrap

US indices slumped yesterday as Treasury yields jumped. S&P 500 dropped 1.83%, Dow Jones moved 1.51% lower and Nasdaq slumped 2.60%. Russell 2000 plunged 3.06%

Read More »

Already have an account?

Let's start trading

Sign up and start trading. After sign up is complete you will be redirected to your Trader’s Dashboard, here you can fund your account and access your trading account.

Learn Trading

Free Coaching

Free Education Center

The Best Trading Platform

Create an account

Signup
Signup