- Indices were mixed during the first Asian session of a new week. The Nikkei fell 1%, the S&P/ASX 200 fell 0.6%, and the Kospi tumbled 2.50%. China indices traded as much as 1.2% higher
- DAX futures point to a slightly lower open for the European spot session today
- The People’s Bank of China’s lending rates did not change at today’s meeting, as expected. The 1-year rate remained unchanged at 3.70% while the 5-year rate remained at 4.45%
- Emmanuel Macron’s centrist coalition lost an outright majority in parliamentary elections, leading to a potential 5-year stalemate in French politics.
- Gustavo Petro won the second round of the presidential elections in Colombia. He is known to be an “anti-oil” politician and is expected to stop oil exploration and production in the country.
- Cryptocurrencies continued to fall over the weekend. Bitcoin dipped below $20,000 and tested the sub-$18,000 level on Saturday. Ethereum dipped below $1,000 but has managed to bounce back above this hurdle since
- Oil is trading little changed today. Brent gains 0.3% while WTI trades 0.1% more
- Precious metals win. Palladium outperforms with a 2.5% gain
- AUD and EUR are the best performing major currencies, while USD and JPY are the biggest laggards
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