Good Morning Traders! We kick off this week with a very quiet European Session.
Here is what to expect.
Sentiment
As traders prepared for a slew of policy pronouncements this week from the US, UK, and Japan, Asian shares tumbled in the aftermath of significant tech drops on Wall Street.
A barometer of the companies in the tech sector is expected to experience its worst fall in almost a month as tech shares declined around the region. The decline was a reflection of losses experienced by Nvidia and Meta, which both dropped more than 3.5% on Friday.
As it faces new challenges on Monday, such as a vote to extend the payment on a local bond, the troubled Chinese real estate developer Country Garden has not lost any of its attention. Hong Kong's stock market underperformed the region, while China's CSI 300 Index momentarily fell to its lowest point of the year before rebounding as traders took heart from statistics released last week that indicated signs of stabilisation.
The nation's central bank is scheduled to meet later this week, but Japan's markets are closed in observance of a holiday. US stock contract prices increased little.
Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman, who is scheduled to speak on Monday at an industry conference about the kingdom's prognosis for petroleum, is another important figure. Brent crude prices rose for a third day, approaching $95 a barrel as OPEC+ supply restrictions constrained the market.
Speakers
03:40 AM ET
Germany's Habeck Speaks
05:00 AM ET
ECB's de Guindos Speaks
Good Luck Today Traders!