Morning wrap (20.05.2024)

05:43 20 May 2024
  • Asia-Pacific indices record a moderately upward session. Indexes from China gain the most, between 0.60-0.70%. Japan's Nikkei 225 index gains by 0.65% and Australia's S&P/ASX200 is trading 0.33% higher.

  • European index futures also point to a slightly higher opening of the cash session. The UK100 contracts are gaining around 0.10% and the German DAX index is up 0.20% to 18850 points. 

  • In the forex market, in the first part of the day, we can see the biggest movements on the Japanese yen, which is one of the weaker G10 currencies. On the other side, the Australian dollar AUD is among the strongest currencies.

  • Iranian President Ebrahim Raisi, the country's foreign minister and others were found dead at the scene of a helicopter crash on Monday after hours of searching in a foggy, mountainous region in the northwest of the country, state media reported. According to local media, President Raisi was heading to the city of Tabriz, in the north-western part of Iran.

  • At the time of publication, there is little change in the financial markets in relation to this fatal accident. There is currently no evidence of any assassination attempt or third party interference.

  • As expected, the People's Bank of China (PBOC) kept its benchmark interest rate (LPR) unchanged on Monday. The PBOC left the one-year LPR rate at 3.45%, while the five-year rate remained at 3.95%. Beijing continued to implement other stimulus measures to support the economy. 

  • Credit rating agency Fitch has affirmed Kazakhstan's long-term foreign currency default rating (IDR) at ‘BBB’ with a stable outlook. Key rating factors include the country's strong external and fiscal balance sheets, which have been resilient to shocks, and funding flexibility supported by accumulated savings from oil revenues. 

  • In a note issued over the weekend, Morgan Stanley expects oil demand to grow at a rate above the historical trend this year. The bank cites economic growth, population expansion, government policy and technological change as reasons for higher demand.

  • The cryptocurrency market is seeing gains after a slightly weaker two sessions over the weekend. Bitcoin is gaining around 2.00% today returning above USD 67,000. 

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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