Morning wrap (30.03.2021)

• US indices finished yesterday's trading mostly lower. S&P 500 dropped 0.09%, Nasdaq declined 0.60% and Russell 2000 moved 2.83% higher. On the other hand, Dow Jones gained 0.30% and finished at record high

• Moods during the Asian session were mixed - stocks in Japan and Australia moved lower while equities from South Korea and China gained

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

• Traffic in Suez Canal has been resumed in both directions

• Saudi Arabia wants to extend current output cuts into May

• US Transportation Secretary Buttigieg said that gas tax hike is not part of the ongoing infrastructure deal discussions

• Turkish lira trades lower after President Erdogan fired CBRT Deputy Governor

• BoJ Governor Kuroda repeated that recent changes to ETF purchase targets does not mean that Bank plans to stop buying ETFs or wants to sell its holdings

• FTSE Russell will include Chinese government bonds in its FTSE World Government Bond Index, starting from end-October

• Japanese retail sales dropped 1.5% YoY in February (exp. -2.8% YoY)

• Bitcoin trades slightly above $57,000

• Precious metals, agricultural commodities and oil trade lower. Industrial metals trade mostly higher

• AUD and NZD are the best performing major currencies while JPY and CHF lag the most

NZDJPY is trading 0.5% higher today and is the best performing pair involving two major currencies. Pair dropped around 4.5% off its post-pandemic high but has found support at 75.60 and started to recover. Resistance zone at 77.25 is being tested at press time. Source: xStation5