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Stock market indices in Asia dropped. S&P/ASX 200 traded 1% lower, Kospi dropped 0.2% and indices from China traded 1.5-3% lower. Nikkei is outperformer and gains 1.2%
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US and European index futures trade lower at the beginning of a new week
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Moods weekend as pandemic concerns are on the rise in China once again. A new coronavirus variant was detected in Shanghai while Macau has shut down non-essential businesses for a week
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A 10-day maintenance of Nord Stream 1 gas pipeline begins today. There are concerns that Russia may not resume gas flows after maintenance amid current tensions
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Elon Musk announced late on Friday that he attempts to terminate the Twitter deal. Twitter is assembling legal team to sue Musk
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Chinese CPI inflation accelerated from 2.1 to 2.5% YoY in June (exp. 2.4% YoY). PPI inflation decelerated from 6.4 to 6.1% YoY (exp. 6.0% YoY)
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Japanese machinery orders dropped 5.6% MoM in May (exp. -5.4% MoM)
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Cryptocurrencies are pulling back. Bitcoin trades 2.4% lower, near the $20,500 mark. Ethereum drops 2.4% as well and tests $1,150 area
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Brent and WTI trade around 1% lower each. Gold trades flat while other precious metals drop
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The US dollar is the best performing G10 currency, followed by CHF and CAD. Japanese yen is the worst performer among majors
USDJPY jumped above 137 and reached the highest level since 1998 as US dollar outperformed on increase in risk aversion. H1 interval. Source: xStation5
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