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Indices from Asia-Pacific traded mixed at the beginning of a new week. Nikkei and S&P/ASX 200 traded slightly higher while Kospi and Nifty pulled back slightly. Indices from China rallied with Hang Seng adding more than 4%
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European and US index futures are trading little changed, compared to Friday's cash closing prices
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OPEC+ decided to rollover its policy and leave oil output unchanged. Next meeting was scheduled for February 1, 2023
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Russian energy minister Novak said that his country will not supply oil to countries that embrace the $60 price cap on Russian oil, even if it results in drop in Russian oil output. Sanctions on Russian oil are going live today (December 5, 2022)
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Chinese authorities loosened Covid restrictions in some cities. Citizens of 3 Chinese cities - Shenzhen, Tianjin and Chengdu - are no longer required to show negative Covid test result to use public transport. People in Beijing no longer need negative test result to enter supermarkets
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ECB Villeroy said he is in favor of a 50 bp rate hike at December meeting. He also said he expects ECB to get inflation back to the target in 2024-2025
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Moody's confirmed credit rating of France at 'AA' but lowered outlook from "stable" to "negative" as slowing economy weighs on public finances
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Cryptocurrencies are trading higher. Bitcoin gains 1.2%, Ethereum trades 1.5% higher and Litecoin rallies over 8%. Cronos trades 14% higher at press time
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Oil is trading a touch higher at the beginning of a new week. Brent adds 0.2% and tests $86 area
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Precious metals trade higher on the back of USD weakness. Gold gains 0.3% and trades near $1,800 per ounce
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AUD and NZD are the best performing major currencies while JPY and USD lag the most
Indices from China rallied today amid relaxation of Covid restrictions in some of the biggest Chinese cities. CHCNomp is trading 2% higher on the day. Index breaks above a mid-term resistance zone and reaches a fresh 3-month high. Source: xStation5
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