- Indices from Asia-Pacific traded mixed on the first day of a new week. Nikkei dropped 0.7%, S&P/ASX 200 gained 0.7%, Kospi jumped 0.6% higher, Nifty 50 surged 1.5% and indices form China traded 0.2-0.6% lower
- US and European index futures are trading slightly lower
- Tensions rising in the Middle East after fighting in the Gaza Strip resumed last week
- Yemen's Houthi carried out missile and drone attacks on two commercial vessels and US Navy ship in the Red Sea
- US military carried out strike against Iran-linked drone staging site in Iraq
- Chinese National Health Commission recommended reducing large gatherings amid spike in respiratory disease infections. Chinese authorities say infections are caused by known pathogens and are not a novel virus
- Oil is trading 1% lower, extending a drop from Thursday's high to over 7%. Disagreement among OPEC+ countries as well as rising production in the US are driving crude prices lower
- Gold surged overnight, but has erased big part of the gains since and is trading 0.8% higher at $2,085 per ounce. Other precious metals are gaining just slightly
- Cryptocurrencies rallied over the weekend and the move continues today. Bitcoin gains over 3% and trades above $41,000 - the highest level since April 2022
- Australian business inventories increased 1.2% QoQ in Q3 2023 (exp. -0.5% QoQ). Gross operating profits were -1.3% QoQ lower (exp. 1.2% QoQ)
- USD and EUR are the best performing major currencies, while CHF and AUD lag the most
GOLD launched new week with a surge, climbing to an intraday high of around $2,140 per ounce. However, big part of those gains has been erased already. Impending rate cuts are fuelling gold rally, with price now trading 8% above mid-November lows. 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.
