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Asian stocks traded lower at the beginning of a new week after a disappointing Chinese GDP data release. Nikkei and Kospi traded 0.2% lower while indices from China dropped 0.5-2.0%. S&P/ASX 200 gained 0.2%
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European and US index futures are trading lower as well
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Chinese GDP grew by 0.2% QoQ in Q3 2021 (exp. 0.5% QoQ). On year-over-year basis growth reached 4.9% (exp. 5.2% YoY)
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Chinese industrial production increased 3.1% YoY in September (exp. 4.5%). Retail sales were 4.4% YoY higher (exp. 3.3% YoY) while urban investments increased 7.3% YoY (exp. 7.9% YoY)
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BoE Governor Bailey said in spite of view that price growth is transitory, BoE will act if medium-term risk arise
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Russian Deputy Prime Minister Novak once again repeated that Russia is ready to increase gas supply to Europe
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New Zealand CPI inflation reached 2.2% QoQ in Q3 2021 (exp. 1.4% QoQ)
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Bitcoin trades above $62,000 and just a touch below record highs ahead of the first Bitcoin futures ETF debut
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USD and CHF are the best performing major currencies while NZD and CAD lag the most
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Oil and industrial metals trade higher with WTI testing $83.00 area. Precious metals trade mixed - gold and silver gain slightly while platinum and palladium drop
New Zealand dollar strengthened following CPI beat as it boosted odds for more aggressive actions from RBNZ. However, NZDUSD gave back all of the gains after a failed test of the 78.6% retracement of recent correction. The pair has pulled back below 200-session moving average since and is eyeing a test of the 0.7050 support. Source: xStation5
