– Indices from Asia-Pacific traded mixed at the beginning of a new week. Nikkei gained 0.6%, S&P/ASX 200 dropped 0.1%, Kospi traded flat and indices from China moved lower
– US and European index futures trade slightly higher
– ECB President Lagarde said that rate hike may come as soon as “a few weeks” after net asset purchases stop
– Chinese authorities consider shortening hotel quarantines to 1-week in order to encourage international visitors. However, pandemic situation is still not under control with Beijing reporting a record number of new daily cases today
– Russia published a list of over 900 Americans that will be banned from entering Russia, including President Biden and Vice-President Harris. The move is retaliation for similar measures taken by the United States
– Labor Party won a parliamentary election in Australia, although it is not yet known whether it will be able to form a majority government. Anthony Albanese, a new prime minister, said that relationship with China will remain difficult
– Belgium introduced a mandatory 21-day quarantine for those who were exposed to monkeypox. United Kingdom also advises high-risk monkeypox contacts to self-isolate
– Cryptocurrencies are trading slightly higher on Monday. Bitcoin gains 0.5% while Ethereum trades 0.7% higher
– Oil is trading slightly higher at the beginning of a new week. Precious metals gain on the back of USD weakening
– NZD and AUD are the best performing major currencies while USD and JPY lag the most
The Australian dollar is trading higher following parliamentary elections in Australia. Elections resulted in a change of government with the Labor party scoring a win. AUDUSD is making a break above a local market geometry today, signaling potential trend reversal.
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