Morning wrap (03.01.2022)

• Stocks in Asia traded mixed during the first session of 2022.
• DJ New Zealand is trading flat, Kospi added 0.33% while HangSeng fell nearly 1%. 
• US futures are trading slightly higher compared to last week close 
• DAX futures point to lower opening of the European session
• Evergrande has suspended trading in its shares in Hong Kong
• The biggest Chinese developer was ordered to demolish 39 residential buildings due to an incorrectly obtained permit 
• Libya expects its oil output to decline by another 200K bpd over the next week
• OPEC technical committee expects the impact of the Omicron variant of COVID-19 to be mild and short-lived
• Turkey has raised electricity prices by up to 130% and gas prices by 50%
• Bitcoin fell slightly and is testing support at $47,000 . Ethereum is trading above $3,800 mark
• USD strengthens which puts pressure on precious metals
• EUR and AUD are the worst performing major currencies while USD and JPY gain the most

USDTRY - Turkish lira weakens at the beginning of new year. Pair broke above the major resistance at 13.30 which coincides with 38.2% Fibonacci retracement of the last downward correction. Source: x Station5