May 27, 2022
The Morning Brief
- US indices finished yesterday’s trading higher. S&P 500 rose 1.99%, Nasdaq jumped 2.68% while Dow Jones gained 1.6%.
- Indices from Asia-Pacific are traded higher today. Nikkei added 0.62%, S&P/ASX 200 and Kospi rose 1.05% and 0.85% respectively while indices from China traded 0.45%-1.10% higher.
- DAX futures point to a higher opening of the European cash session.
- US and Taiwan are planning to announce negotiations to deepen economic ties.
- 3 US senators want laws to ban China’s digital yuan from Google, Apple app stores.
- China and Russia have joined forces to veto the US push to impose more UN sanctions on North Korea.
- Russian Deputy Prime Minister Novak expects oil output to shrink up to 8.4% this year.
- China’s industrial profits increased by 3.5% yoy in January-April 2022, slowing sharply from a 8.5% rise in the prior period,.
- Tokyo CPI for May 2.4% yoy below expectations of 2.7%.
- Cryptocurrencies trade mostly lower. Bitcoin fell below $29,000, while Ethereum is testing $1750 area.
- Brent and WTI trade 0.10% higher.
- Precious metals rose slightly. Gold added 0.40%, while silver jumped 0.50%.
- AUD and NZD are the best performing major currencies while USD and CHF lag the most.
Silver rose above key resistance at $22.00 an ounce, benefiting from recent weakness in the dollar. Source: xStation5
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