Asian Stock Markets Were Mixed, While Gold Prices Were Strong On Monday
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Asian stock markets traded mixed on Monday after investors weighed in on Chinese export data.
The ASX 200 (-0.2%) weakened following underperformance in the technology, telecom, and consumer sectors.
The Nikkei 225 (-0.1%) was depressed amid a strong JPY recently.
Hang Seng (-0.3%) while Shanghai Composite (+0.4%) as investors weighed in on Chinese trade data, which showed a larger-than-expected trade surplus due to higher exports.
WTI crude futures recovered above the $ 81 a barrel level as OPEC+ continued to ignore President Biden’s call for higher production.
Gold prices traded above the $ 1,815 level on Monday after rising nearly 2% last week following a drop in global bond yields.
The US dollar hovered around 94.25 as investors waited for US inflation data after the Fed said it would not rush to raise interest rates.
AUD/USD remained around 0.7400 after falling 1.6% last week after the Reserve Bank of Australia rejected expectations of an earlier interest rate hike.

The GBP continued to be under pressure with GBP/USD approaching 1.34, its lowest level since late September after the Bank of England kept its interest rates unchanged in its November meeting, compared to market expectations for a 15 basis point hike.