Morning wrap (08.04.2022)

• In spite of a mixed European session, indices from Wall Street managed to finish yesterday's trading higher. S&P 500 gained 0.43%, Dow Jones moved 0.25% higher and Nasdaq added 0.06%. Russell 2000 was a laggard and dropped 0.35%

• Stocks in Asia traded mostly higher. Nikkei and Kospi gained around 0.2% each while S&P/ASX 200 gained 0.5%. Indices from China traded mixed

• DAX futures point to a higher opening of the European cash session today

• China warned the United States about consequences if Nancy Pelosi visits Taiwan as an acting Speaker of the House of Representatives. China called the visit a provocation and said that United States will bear consequences

• European Union agreed to ban imports of Russian coal with a 120-day wind-down period. Japan is considering similar move

• According to Reuters report, possibility of Finland and Sweden joining NATO was discussed at recent meeting of the military alliance

• UK media reports that lack of available trucks and truckers in the Shanghai area makes clearing of imported goods impossible and causes containers to pile up in port. Shanghai is China's biggest port

• Cryptocurrencies trade higher on Friday. Dogecoin jumps over 5% and trades above 0.15

• Both WTI and Brent trade around 0.8% lower on the day. Brent broke below $100 per barrel during the Asian session but has managed to recover since

• Precious metals trade slightly higher

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

Brent (OIL) dropped below $100 per barrel yesterday in the afternoon before recovering back above this hurdle in the evening. Another attempt of breaking below $100 area was made during the Asian session today but, once again, sellers did not manage to sustain the break lower. Source: xStation5