Protests in China over massive surveillance and lockdown following the protocol of its Zero-Covid Policy have seen multiple instances of sporadic violent retaliation from its citizens. The protestors issued a call for Xi Jinping to step down as General Secretary of the Chinese Communist Party (CCP) over the draconian policies that cause mass hunger and suicide. Ten new management measures are rumored to be announced as early as Wednesday. The outlook is pointing to an easing down of or a less strict policy as a supplement to the 20 guidelines introduced back in mid-November.

EQUITY

Foxconn planned to resume full operation as early as late December after its shutdown in early November. Japan’s Nikkei is up 0.15% today after a disappointing 1.79% drop last week. The Hang Seng Index was up 6.27% last week and 4.51% today following the rumor of a loosened COVID policy.

OIL

Oil prices broke out of their short-term downturn and reversed into an uptrend after a potential double bottom price pattern. It came up short after Russia refused to cap the price of its crude oil in response to the European Union's call for sanctions. Crude oil inventory data were set on Wednesday, and economists forecast the data to move the market downward.

CURRENCY

The USD Currency Index previously broke through its major support and was expected to drop even more. Other currencies paired against the USD have all seen major uptrend movement. The yuan has also soared as China's economy is expected to reopen.

GOLD

As the USD weakens, gold has had major breakouts on the upside. It made a massive 2.52% uptrend last week and is expected to ease its volume this week, as there is always a pullback after a major move. CFTC gold speculative net position data is set to release on Friday, and the market may overbought its position before the report is released.