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Indices from Asia-Pacific traded lower at the beginning of a new week. Nikkei dropped 0.8%, S&P/ASX 200 moved 0.1% lower and indices from China traded up to 1% lower. Kospi was an outperformer with 0.5% gain
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European index futures point to a lower opening of the cash session on the Old Continent
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US Treasury Secretary Yellen said that US economy is not in recession as no broad-based contraction across many sectors can be spotted
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European Commission President von der Leyen said that full stop of gas supplies from Russia will happen sooner or later
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ECB President Lagarde said that interest rates will increase for as long as it takes to bring inflation back to target. ECB Holzmann said that Europe may have to accept a moderate recession in order to combat inflation but it may not be necessary
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According to Reuters report, China plans to set up a $44 billion real estate fund that will be used to support domestic property developers
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Russian authorities warned that Russia will not supply oil to countries that decide to impose a price cap on Russian crude
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Russia launched a missile strike on Odessa port, a day after agreement on grain exports with the UN and Turkey was reached. Russia claims it struck military targets but the move questions whether it is really committed to letting Ukrainian grain back to markets
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Cryptocurrencies are pulling back at the start of a new week. Bitcoin drops 4% and trades slightly below $22,000 mark
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Brent and WTI trade around 0.8% lower each. Precious metals trade little changed
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USD and EUR are the best performing major currencies while NZD, GBP and AUD lag the most
Oil is taking a hit at the start of a new week amid an overall deterioration in moods. Brent (OIL) is making another attempt at breaking below the support zone, marked with 200-session moving average in $97 area. Source: xStation5
