- European indices finished today's session slightly higher with the German DAX rising 0.55% thanks to solid performance of travel shares, especially thanks to Ryanair which posted its largest ever after-tax H1 profit and said it expected to return to pre-pandemic annual profit levels this year.
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Mining and luxury stocks underperformed after Chinese authorities said they will uphold strict COVID restrictions following unexpected declines in both exports and imports for September.
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US indices launched a new week in upbeat moods while traders brace themselves for the US midterm elections on Tuesday, as well as key US inflation figures on Thursday that could influence the size of an expected Fed rate hike in December.
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Elon Musk recommends US citizens to vote for Republicans in tomorrow’s midterm elections.
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Facebook-parent Meta jumped more than 6% despite announcing plans to begin large-scale layoffs this week.
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Apple warned that it intends to produce at least three million fewer iPhone 14 than initially expected this year.
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Oil pulled back 0.60%, while precious metals trades mixed despite a weaker dollar. GBPUSD pair jumped nearly 2.0% following Hunt comments. UK secretary of the treasury, points out that savings and greater tax revenues will result in a budget tightening of £ 54bn. Currently GBP and EUR are the best performing major currencies while USD and CAD lag the most.
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NATGAS price rose 10% as weather forecasts showed a bout of cold temperatures for mid-November that could spur heating demand for parts of the US later this month.
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Downbeat sentiment prevails on the cryptocurrency market, where Bitcoin retreated to $20,500 support, while Ethereum fell below $1600 level.
Gold left a broad consolidation zone last week ranging from $ 1,670 to $ 1,621. Today, the upper limit of the aforementioned price range has been tested from the other side and acted as a support. If the price remains above $ 1,670, upward move towards resistance at $ 1700 or even $ 1725. Source: xStation5
