Morning wrap (23.10.2023)

• US and European index futures trade slightly higher after the beginning of new week's trade as feared Israeli ground invasion of Gaza Strip did not commence
• Trucks with humanitarian aid were allowed into Gaza via border crossing with Egypt
• Oil drops over 1% today while gold gives back part of recent gains
• AUD and USD are the best performing major currencies while CHF and EUR lag the most
• Indices from Asia-Pacific are trading lower at the start of a new week. Nikkei drops 0.6%, S&P/ASX 200 trades 0.8% lower and Kospi declines 0.7%. Indices from China traded 0.3-0.9% lower
• Liquidity conditions in Asia were thinner today than usual as stock exchanges in Hong Kong and New Zealand were shut for holiday
• According to Financial Times, the European Union is considering gas price cap extension in order to avoid the winter crisis. Such decision is being considered amid risk to gas supply - conflict in Middle East and damages to Baltic pipelines
• According to Goldman Sachs, FX outflows from China reached $75 billion in September and were the highest since 2016
• Cryptocurrencies are trading higher - Bitcoin gains 3.5%, breaks above $30,000 mark and trades at the highest level in 3 months

Bitcoin broke above the $30,000 resistance zone and trades at the highest level since mid-July 2023. Source: xStation5