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US indices finished yesterday's trading lower with tech shares underperforming. S&P 500 dropped 0.39%, Dow Jones moved 0.13% lower and Nasdaq slumped 1.09%. Russell 2000 dropped 0.57%
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Indices from Asia-Pacific traded mostly higher today. Nikkei and S&P/ASX 200 gained 0.6% each, Nifty 50 added 0.3% and indices from China traded mixed. Kospi was underperformer with a 0.6% drop
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DAX futures point to a more or less flat opening of the European cash session
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Straits Times reported that US Defense Secretary Lloyd Austin and Wei Fenghe, Chinese top military official, in an attempt to ease tensions between US and China following Pelosi's visit to Taiwan in summer
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ECB's Holzmann said that he favores another 75 basis point rate hike at the December meeting. Meanwhile, ECB's Centeno hinted that rate hike at December meeting may be smaller than 75 bp
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Moody's expects Chinese real GDP growth to slow to 3% this year and accelerate back to 4% in 2023 and 2024
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Oil slumped yesterday in the afternoon after Wall Street Journal reported that OPEC+ is considering output increase. However, the move was fully reversed later on when Saudi Arabia denied talks on output increase. Saudi Arabia has stressed that current output cut agreement is set to continue until the end of next year
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According to Wall Street Journal, troubled crypto lender Genesis approached Binance for an investment and a bid on its loan book but Binance declined. There is a risk that Genesis will go bankrupt if there is no need financing
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Major cryptocurrencies are trading little changed on the day. Bitcoin trades flat and holds below $16,000 mark
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Oil is trading slightly lower with WTI making another attempt at breaking below $80 per barrel
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Precious metals benefit from USD weakening. Gold trades 0.2% higher, silver gains 0.9% and platinum jumps 0.5%
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GBP and NZD are the best performing G10 currencies while USD and CAD lag the most
Oil plunged yesterday on WSJ report and recovered later on denial from Saudi Arabia (orange circle). Some weakness can be spotted this morning and WTI (OIL.WTI) is currently attempting to make a break below the 50-hour moving average in the $80 per barrel area. Source: xStation5
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