Morning wrap (27.05.2021)

• US indices finished yesterday's session higher. S&P 500 rose 0.19%, Dow Jones added 0.03% and Nasdaq gained 0.59%. Russell 2000 surged 1.89%
• Stocks in Asia traded mixed today. Nikkei fell 0.55%, S&P/ASX 200 rose 0.19% and Kospi dropped 0.22% and indices from China struggled to find common direction
• DAX futures point to a slightly lower opening of the European session
• US and China trade negotiators said that both sides agreed that bilateral trade deal is very important  and that communications will continue
• China's bans selling commodity futures-linked products to retail investors
• Chinese government will extend more support to micro & small enterprises and self-employed
• South Korea's central bank leaves its key rate unchanged and will maintain an accommodative stance for a while
• Japan is extending  subsidy program through to the end of July, according to local media
• RBNZ Gov Orr said a negative economic shock would prompt increased stimulus and bank is willing to lower interest rates if necessary
•  Australia's second-largest state, Victoria sent into a 7-day lockdown
• China Industrial Profits for April +57.0% y/y (previous +92.3% y/y)
• Australian Private Capital Expenditure (capex) for Q1 2021: +6.3% q/q (expected +2%, previous +3%)
• Bitcoin trades around 37,500 USD, Ethereum fell below 2,700 USD
• NZD and AUD are the best performing major currencies while JPY and USD lag the most

NZDUSD – buyers failed to break above the major resistance at 0.7308 and the pair pulled back. The nearest support is located around 0.7241. Source:xStation5