Rise and shine Traderade family
I hope you had a lovely weekend. This week brings us a lot of excitement with plenty of economic data on the calendar. If you haven’t already check out Mayhem’s post on Navigating the Week Ahead.
Asia and Australia
China markets, yuan and China FX proxies slide on Covid lockdowns, protests. Chinese markets are down this morning. The news may also be concerning for the likes of Apple and Tesla.
Taiwan President Tsai quits after historic local election loss
Chinese October industrial profits hit by Covid restrictions, falling factory-gate prices
Europe, Middle East, Africa
Iraq planning to increase export capacity by up to 1.5M bpd by 2025
Germany finalizing 'Electricity Price Break' law which includes price cap for consumers as well as windfall tax for generators.
Activity in the UK housing market stalled in October and house price growth the lowest quarterly level since February 2020
The Americas
The bond market is zeroing in on a US recession next year, with traders betting that the longer-term trajectory for interest rates will be down.
Record $9.12B spent online for Black Friday, brick-and-mortar traffic up as discounts grow
Canada to add new foreign investment provisions amid concerns about Chinese SOEs
US authorizes Chevron to resume oil production in Venezuela
Calendar
No major earnings today