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Indices from Asia-Pacific traded mixed today. Nikkei dropped 0.3%, Kospi and Nifty 50 moved 0.1% lower and S&P/ASX 200 gained 0.2%. Indices from China traded higher
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DAX futures pointed to a flat opening of the European cash session today
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China reported almost 32 thousand new Covid cases, a new record in official data
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China Securities Journal, Chinese state media, also hints that People's Bank of China may decide to cut reserve requirement ratio for all banks in order to support economy
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UK car production increased 7.4% YoY in October, to 69,524 units. However, production level was still 48.4% lower than in pre-pandemic 2019. Around 81% of production was exported
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New Zealand retail sales increased 0.4% QoQ in Q3 2022 (exp. 0.5% QoQ)
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Oil gained slightly after Iraq and Saudi Arabia issued a statement in which two countries stressed importance of stable oil markets and work within OPEC+ framework, and pledged to take measures to stabilize it if necessary
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Tesla recalled 67 thousand vehicles in China due to power management and seat belt issues
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Cryptocurrencies are pulling back. Bitcoin drops 1.2% and Ethereum trades 1.9% lower. Ripple outperforms, gaining 3.2% at press time
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Precious metals trade mixed - gold gains 0.1% and platinum adds 0.3% while silver drops 0.5% and palladium moves 0.1% lower
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EUR and AUD are the best performing major currencies while CHF and JPY lag the most
200-hour moving average (purple line) continues to support CHNComp and the index looks like it may be able to bounce higher and take out the resistance zone marked with 23.6% retracement. However, with Covid situation in China deteriorating, the index remains vulnerable. Source: xStation5
