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US indices finished yesterday's session mixed as risk momentum faded in the afternoon. S&P 500 dropped 0.08%, Dow Jones moved 0.34% lower, Nasdaq added 0.63% and Russell 2000 gained 0.17%
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Indices from Asia-Pacific also traded mixed today - S&P/ASX 200 and Nifty 50 dropped, Nikkei and Kospi gained and indices from China traded mixed
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DAX futures trade a touch below yesterday's cash close
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According to Reuters report, China issued additional batch of oil import quotas for 2023, in another sign that oil demand in the country is recovering
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Morgan Stanley boosted its Chinese GDP growth forecast for 2023 to 5.4%, citing supportive fiscal and monetary policies as well as improvement in property and tech sector outlooks
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Chinese ambassador to Australia said that the relationship between the two countries has been reset. Speaking on coal imports, Chinese ambassador said that it will be up to companies to decide whether they want to import Australian coal
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According to JP Morgan, economic reopening in China could boost economic growth in Australia by around 1%
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CPI inflation in Japan's Tokyo area accelerated from 3.6 to 4.0% YoY in December (exp. 3.8% YoY)
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Japanese household spending dropped 1.2% YoY in November (exp. +0.5% MoM)
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Cryptocurrencies traded without a common direction - Bitcoin trades flat, Ethereum gains 0.2% and Dogecoin drops 0.1%
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Energy commodities trade lower - oil drops around 0.5% while US natural gas prices dip over 2%
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Precious metals trade little changed - gold trade flat, platinum gains 0.1% and silver drop 0.3%
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EUR, NZD and CAD are the best performing G10 currencies while CHF and GBP lag the most
US500 climbed above 3,920 pts resistance zone yesterday, that marked the upper limit of a recent trading range. However, bulls failed to hold onto those gains and the index started to pull back after a failed attempt of breaking above the 200-period moving average at H4 interval. Source: xStation5
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