– Moods in Asia were mixed at the beginning of a new week. Nikkei dropped 0.7%, S&P/ASX 200 gained 0.3%, Kospi moved 0.5% higher and indices from China traded mixed
– European and US futures trade flat compared to Friday’s cash closing levels
– Risk-on moods could be spotted on the FX market with CHF, JPY and USD being top laggards. NZD, AUD and GBP outperformed
– US Treasury Secretary Yellen said that inflation will remain high into next year but that it should start decelerating in the second half of 2022
– Chinese developer Evergrande has reportedly resumed construction projects in 6 cities
– Turkish lira weakened to a new record low after Erdogan expelled 10 ambassadors, including 7 from NATO countries
– According to Chinese state media, property tax will be implemented in China sometime in the 2021-2025 period. New tax will not be applicable to rural residences
– Goldman Sachs expects oil demand to rise to 100 million barrels per day and beyond. The Bank expects a switch from natural gas to oil to increase demand for crude by at least 1 million barrels per day
– Saudi Arabia said that OPEC+ should remain cautious when it comes to increasing supply
– Precious metals, oil as well as industrial metals are trading higher, benefitting from USD weakness
– Bitcoin trades near $62,000 mark
EURTRY jumped to a fresh record high after Turkish President Erdogan declared 10 ambassadors persona non grata in Turkey. Turkish lira is the worst performing EM currency this morning.
For more informations and news join our official social networks! Please click on the icons below to subscribe.