Good Morning Traders

  • US indices finished yesterday’s session mixed. S&P 500 dropped 0.13%, Dow Jones moved 0.33% lower, while Nasdaq rose 0.06% and Russell 2000 jumped 1.24%.
  • Indices from Asia-Pacific moved higher. Nikkei and S&P/ASX 200 rose 2.50% and 1.7% respectively. Kospi added 1.8% higher and indices from China also moved higher.
  • DAX futures point to a higher opening of the European cash session.
  • Fed Chair Powell says factors outside the Fed’s control may mean a hard landing.
  • BoJ Governor Kuroda said massive bond buying may hurt market functioning, however central bank will continue powerful monetary easing.
  • Japan finance minister Suzuki says FX stability is important, recent rapid moves are undesirable and government will continue to watch yen price moves carefully.
  • China would “strictly limit” unnecessary travel outside the country by Chinese citizens due to the spread of the COVID-19 response.
  • Toyota will suspend production in 12 plants in Japan, & will cut North American production further due to semiconductor shortages.
  • New Zealand April manufacturing PMI fell to 51.2 which is the lowest since August 2021.
  • Cryptocurrencies rebounded sharply – Bitcoin trades 8% higher and returned above $30,000 mark while Ethereum trades over 10% higher on the day and approached $2,100 area.
  • Precious metals are trying to erase yesterday loses amid weaker US dollar.
  • Brent and WTI rose 1.8% and 1.5% respectively after OPEC cut forecast for world oil demand growth in 2022 for a second straight month.
  • AUD and NZD are the best performing major currencies while JPY and USD lag the most.

Bitcoin managed to recoup some of its recent losses  and broke above psychological $30,000 level. Source: xStation5

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