Beginning of a new week is somewhat subdued on the global market. Moods weakened slightly after news of a new spike in Covid cases in China surfaced but no sell-off can be spotted. Liquidity during the day ahead is expected to be limited due to US holiday

Nikkei traded 0.8% higher, S&P/ASX 200 gained 1.1% while Kospi dropped 0.7%. Indices from China traded 0.2-0.8% higher

DAX futures point to a slightly higher opening of the European cash session

According to the Financial Times, ECB is considering blocking EU banks from a cheap loan scheme created during Covid-19 pandemic. Aim of the move is not to allow banks to profit from cheap loans while interest rates to consumers and businesses rise

Iran said that time and place of next nuclear talks is being finalized with the European Union

Financial Times reports that Biden administration is split over whether to remove Chinese tariffs or not

Coronavirus cases in northeastern regions of China are on the rise. Lingbi county imposed a lockdown while Si country started a mass testing

According to a Bloomberg report, Iran has further lowered prices for its crude in order to match prices offered by Russia. Iran struggles to sell its oil as US sanctions remain in place and its earlier buyers started to look towards discounted Russian commodity

Australian building permits increased 1.5% MoM in May (exp. -2.0% MoM)

Cryptocurrencies are pulling back on Monday. Bitcoin trades 0.9% lower, near the $19,000 mark. Ethereum drops 2% and tests $1,050 area

Brent and WTI trade around 0.5% higher. Gold gains 0.4%

AUD and NZD are the best performing major currencies while CAD and JPY lag the most

AUDJPY, an FX pair often seen as a risk barometer, is bouncing off the support zone marked with 50% retracement today. New spike in Covid cases in China led to only a brief deterioration in moods on the markets