Morning wrap

• Asian stock markets are trading mixed on Tuesday. S&P/ASX 200 and Kospi gain 0.5%, Nikkei trades flat while indices from China decline

• DAX futures point to a small bullish gap at the launch of the European cash session

• Donald Trump said that he is considering decoupling the US economy from China. US President also said that coronavirus vaccine may be ready before November elections

• United States consider imposing ban on cotton from China due to human rights abuses

• China has placed new visa restriction on journalists working for US news agencies

• According to UK Telegraph, Boris Johnson will use today's speech to EU leaders to say that Brexit deal does not make sense

• Japanese household spending dropped 7.6% YoY in July (exp. -3.7% YoY)

• Japanese Q2 GDP drop was confirmed at 7.9% QoQ (exp. -8.1% QoQ)

• Precious metals post minor gains while oil makes moderate drop

• AUD and JPY are top moving major currencies while GBP and CHF lag the most

Number of new confirmed coronavirus infections dropped below 200 thousand on Monday. Source: worldometers, XTB