- US indices finished yesterday’s session mixed. S&P 500 dropped 0.13%, Dow Jones moved 0.33% lower, while Nasdaq rose 0.06% and Russell 2000 jumped 1.24%
- Indices from Asia-Pacific moved higher. Nikkei and S&P/ASX 200 rose 2.50% and 1.7% respectively. Kospi added 1.8% higher and indices from China also moved higher
- DAX futures point to a higher opening of the European cash session
- Fed Chair Powell says factors outside the Fed’s control may mean a hard landing;
- BoJ Governor Kuroda said massive bond-buying may hurt market functioning, however, the central bank will continue powerful monetary easing;
- Japan finance minister Suzuki says FX stability is important, recent rapid moves are undesirable and the government will continue to watch yen price moves carefully
- China would “strictly limit” unnecessary travel outside the country by Chinese citizens due to the spread of the COVID-19 response;
- Toyota will suspend production in 12 plants in Japan, & will cut North American production further due to semiconductor shortages;
- New Zealand April manufacturing PMI fell to 51.2 which is the lowest since August 2021;
- Cryptocurrencies rebounded sharply – Bitcoin trades 8% higher and returned above the $30,000 mark while Ethereum trades over 10% higher on the day and approached the $2,100 area
- Precious metals are trying to erase yesterday’s loses amid a weaker US dollar
- Brent and WTI rose 1.8% and 1.5% respectively after OPEC cut the forecast for world oil demand growth in 2022 for a second straight month
- AUD and NZD are the best performing major currencies while JPY and USD lag the most
Bitcoin managed to recoup some of its recent losses and broke above psychological $30,000 level.
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