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Nikkei and South Korean Kospi dropped

It will takes about:

November 8, 2021

Latest updates:

– S&P 500 and Dow Jones futures trade little changed. Nasdaq futures take a small hit following tweet from Elon Musk
– Musk asked on Twitter whether he should sell 10% of his Tesla holdings, worth around $21 billion. Majority of respondents to the poll supported share sale, what weighs on tech shares slightly today
– Stocks in Asia traded mixed. Japanese Nikkei and South Korean Kospi dropped, Australian S&P/ASX 200 traded more or less flat while indices from China moved higher
– DAX futures point to a slightly lower opening of the European cash session today
– US House passed a $1.2 trillion infrastructure bill that will now be signed by President Biden
– Biden Administration is considering using Strategic Petroleum Reserves to lower gasoline price
– Chinese exports increased 27.1% YoY in October (exp. 24.5% YoY) while imports were 20.6% YoY higher (exp. 25.0% YoY). Trade balance reached a positive $84.54 billion
– Suez Canal authorities decided to hike fees for passing the Canal by 6%, starting from 2022
– Oil is trading over 1% higher after Saudi Aramco boosted crude price for Asian customers
– Precious metals trade higher while industrial metals pull back
– Cryptocurrencies gained over the weekend with Bitcoin testing $66,000 mark this morning
– AUD and NZD are the best performing major currencies while JPY and CHF lag the most
– WTI (OIL.WTI) climbed overnight after Saudi Aramco boosted crude prices for December delivery to Asia. WTI reached the 200-hour moving average this morning and has struggled to break above it. Note that the same moving average has halted upward move on Thursday.

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