- 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
- Japanese industrial production dropped 4.4% YoY in August (exp. -3.8% YoY)
- 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
Brent (OIL) is trading little changed at the beginning of a new week. Price trades above $90 per barrel and is testing a resistance zone in the $91.15 area marked with 61.8% retracement of a recent downward impulse. Source: xStation5
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
