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Indices from Asia-Pacific traded mixed during the first trading session of the week. Indices from ex-China gained, responding to solid Wall Street session on Friday, while indices from China moved lower after poor PMIs and news of new Covid outbreaks
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European index futures point to a slightly higher opening of the cash session on the Old Continent
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Wall Street index futures trade flat after Friday's rally
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Reports surface about a number of facilities in China closing due to Covid outbreaks. Those include Disney resort in Shanghai, casinos in Macau or massive Foxconn plant in Zhengzhou
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Wall Street Journal reported that Fed may decide to hold onto higher rates for longer
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Wheat trades over 5% higher at the beginning of a new week. Move higher comes after Russia withdrew from a deal on Ukrainian grain exports
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Luiz Inacio Lula da Silva defeated incumbent Jair Bolsonaro in the second round of presidential elections in Brazil
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ECB's Knot said that he will opt for a 50 or 75 basis point rate hike at December meeting. He also said that ECB is not yet half-way done with tightening
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Chinese manufacturing PMI dropped from 50.1 to 49.2 in October (exp. 50.0). Services PMI dropped from 50.6 to 48.7 (exp. 50.2)
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Australian retail sales increased 0.6% MoM in September (exp. 0.6% MoM)
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Japanese industrial production dropped 1.6% MoM in September (exp. -1.0% MoM)
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South Korea industrial production dropped 1.8% MoM in September (exp. -0.3% MoM)
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Energy commodities trade lower at the beginning of a new week with WTI dropping around 1.5% and trading near $87 per barrel
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Precious metals trade mostly lower. Gold drops 0.1%, silver trades 0.5% lower and platinum declines 1.1%. Palladium gains 1.3%
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NZD and AUD are the best performing major currencies while CHF and EUR lag the most
WHEAT jumped at the beginning of a new week and is trading at the highest level since mid-October. Russia withdrew from a UN-brokered deal on Ukrainian grain exports following weekend strikes on a military port in Sevastopol, Crimea. Source: xStation5
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