Market Update & Important Indicators:
US equities were calmer on Monday night after the massive volatility of last week with the Dow falling 89 points, with IT and Energy sectors leading the market lower; The US has said it is undecided if Treasury Secretary Mnuchin will attend the Saudi Investment conference next week in light of the disappearance of Jamal Khashoggi; Gold rose to the highest close since June on the safe haven trade. Chartists noted, this is above Thursdays closing price after US equity markets fell sharply that day. The USD was slightly weaker against most currencies, the DXY at 95.05; After a decade of runaway credit expansion and regulatory loosening, China’s banking system has increased more than fourfold and has 13 banks with at least $500bn of assets, more than Japan and the US combined according to Bloomberg data.
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