Indices from Asia-Pacific launched new week’s trading lower – Nikkei drops 1.9%, S&P/ASX 200 declines 0.3%, Kospi is down 1% and Nifty 50 trades flat. Indices from China drop 0.4-1.0%
European and US index futures trade slightly higher at the start of a new week
Precious metals are trading lower, with gold dropping 0.5%, as yields halted drop and moved higher at the beginning of a new week
Oil traded little changed after the weekend amid lack of new major developments in the Middle East – Israeli ground invasion of Gaza Strip has not begun and other key players in the region, like Iran, did not get directly involved
However, hostilities between Israel and Hamas continue and risk of escalation remains real.International diplomatic efforts are ongoing to prevent spillover across the Middle East region
NZD gained after right-wing parties won enough seats in elections to form a coalition. Christopher Luxon from the National Party was named prime minister
PLN traded higher against EUR and USD after flash results showed potential power shift to centrist coalition after the parliamentary elections
Pan Gongsheng, Governor of People’s Bank of China, said that PBoC will provide continuous support to boost demand and economic momentum
Cryptocurrencies are trading higher – Bitcoin gains 2%, Ethereum trades 1.5% higher and Dogecoin adds 1%
AUD and NZD are the best performing major currencies while CHF and USD lag the most
