Morning wrap (09.04.2021)

• US indices finished yesterday's trading higher. S&P 500 added 0.42%, Dow Jones gained 0.17%, Nasdaq moved 1.03% higher and Russell 2000 gained 0.88%

• Downbeat moods dominated during the Asian session. S&P/ASX 200 moved 0.2% lower, Kospi dropped 0.3% and indices from China declined. Nikkei gained 0.5%

• DAX futures point to a flat opening of the European session

• Jerome Powell repeated that outlook for the US economic has improved but monetary support is still needed

• South Korea will extend social distancing requirements for 3 week. Japanese authorities agreed to impose additional restrictions in Tokyo. Canadian media report that 8pm curfew will be imposed in Montreal

• China's CPI inflation increased from -0.2 to +0.4% YoY in March (exp. 0.3% YoY). PPI inflation increased from 1.7 to 4.4% YoY (exp. 3.5% YoY)

• United States blacklisted 7 Chinese supercomputing entities due to national security concerns

• CME Group increased margin requirements for copper futures due to recent volatility

• Bitcoin trades slightly below $58,000 mark

• Precious metals, industrial metals, oil and agricultural commodities all trade lower on Friday

• GBP and USD are the best performing major currencies while AUD and NZD lag the most

New variants of coronavirus are becoming more and more risky for the global economy as they are both more contagious and more deadly. Almost 740 thousand new coronavirus cases were reported yesterday - the highest number of cases since January 15. Source: worldometers, XTB