- 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
