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Indices from Asia-Pacific traded mixed at the beginning of a new week. Nikkei and S&P/ASX 200 dropped over 1%, indices from China traded mixed while indices from India and South Korea gained around 0.4%
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US index futures trade slightly above Friday's cash close while European index future point to a flat opening of the trading session on the Old Continent
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According to the Times report, UK Prime Minister Liz Truss decided to defer 1 percentage point income tax cut until 2024. New UK Chancellor of Exchequer Jeremy Hunt is also expected to make a speech on new fiscal plan today
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Japan's finance minister Suzuki once again said that his country will act firmly against excessive FX moves. USDJPY jumped above 148.00 and looked towards 149.00 mark on Friday
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Bank of England Governor Bailey said that a bigger-than-expected rate hike may be needed at next meeting (November 3, 2022) as inflation keeps accelerating
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Survey conducted by Wall Street Journal found out that economists see a 63% chance of US recession in the next 12 months
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Chinese President Xi Jinping praised the country's zero-Covid policy during his speeches at party congress. His speech completely ignore domestic property sector issues
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OPEC Secretary General Haitham al-Ghais said that the recent output cut was a pre-emptive measure. UAE Energy Minister said that the decision was not political and was not aimed at any country
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Cryptocurrencies are trading mostly higher but the scale of moves is small. Bitcoin gains 0.7%, Ethereum trades 1.2% higher while Ripple drops 0.9%
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Oil as well as precious metals trade higher amid USD weakening
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JPY and USD are the worst performing major currencies while AUD and GBP outperform
GBPUSD caught a bid this morning on reports saying that more parts of Liz Truss' tax plan may be scrapped or delayed. Pair bounced off the price zone marked with 23.6% retracement of recent upward impulse in the 1.1225 area. Source: xStation5
