Morning wrap (12.08.2021)

• US indices finished yesterday's session mostly higher. S&P 500 gained 0.25%, Dow Jones added 0.62% and Russell 2000 moved 0.39% higher. Nasdaq dropped 0.16%
• Downbeat moods could have been spotted during the Asian session. Nikkei fell 0.10%, S & P / ASX 200 lost 0.03%, Kospi dropped 0.34% and indices from China traded lower
• DAX futures point to a lower opening of the European session
• Fed's Daly said tapering could start as soon as this year
• US FDA may approve a third vaccine shot for people with compromised immune systems
• US posted a budget gap of USD 302 billion in July, a record for that month
• China is to strengthen its anti-monopoly laws
• Japan PPI for July +1.1% m/m (expected 0.5%)
• Producers prices in Japan rose by 5.6% yoy in July, the most in almost 13 years
• RBNZ Q3 inflation expectations rising again
• Bitcoin trades in the $45,500 area
• Precious metals trade flat, while oil and industrial metals rose slightly
• NZD and GBP are the best performing major currencies while CHF and EUR lag the most

Ethereum launched today’s session slightly lower and price is testing an upward trendline. Should break lower occur, then downward move may accelerate towards support at $3030 which coincides with 50.0% Fibonacci retracement of the downward wave which started in May 2021. On the other hand, if buyers will manage to halt declines here, then another upward impulse towards resistance at $3345 could be launched. Source: xStation5