Morning wrap (24.10.2023)

• The final hours of yesterday's session on Wall Street brought a bit worse investor sentiment. Most benchmarks reduced early gains, which in the case of the S&P500 even turned into declines. In intraday terms, the index lost 0.17%, the Dow Jones lost 0.58%. The Nasdaq did better, gaining 0.30%.
• Markets in Asia mostly gained during today's session in the APAC sector. The Nikkei added 1.23%, and Korea's KOSPI added more than 0.75%.
• Investors' attention turns to Bitcoin, which in the evening broke above the $35,000 barrier.
• The cryptocurrency is gaining 8.8% on an intraday basis, although there has been no accurate information in the market to prove the move.
• It is worth mentioning, however, that for days BTC has pierced successive important technical levels, which could provide the basis for such bullish momentum.
• Preliminary PMI for Australia: manufacturing 48.0 (previously 48.7) and services 47.6 (previously 51.8)
• China will approve an additional sovereign debt issuance of about $137 billion on Tuesday, Reuters reported.
• The Australian dollar and the British pound are currently the best performers in the FX market. The worst performers are currently the US dollar and the Japanese yen.
• The highlights of today's macro calendar are the Gfk (Germany) index, UK labor market data, PMI data for services and manufacturing from all major economies, and the API survey report on US oil inventories.

Heatmap of the FX market, which illustrates the volatility on individual currency pairs at the moment. Source: xStation 5