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US indices plunged yesterday following another acceleration in the US CPI inflation. S&P 500 dropped 1.81%, Dow JOnes moved 1.47% lower while Nasdaq and Russell 2000 dropped 2%
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Stocks in Asia moved lower as well with S&P/ASX 200 dropping 1%, Kospi moving 0.9% lower and indices from China trading 0.2-1.2% lower
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DAX futures point to a lower opening of the European cash session today
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Fed's Bullard said that 100 basis points of tightening may be needed by July. He also hinted at a possibility of a 50 bp hike in March
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Fed's Barkin said that the US economy will recover to pre-pandemic levels in Q1 2022. Barkin said he is not convinced of a 50 bp rate hike in March
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Goldman Sachs expects a total of seven 25 bp rate hikes this year
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ECB President Lagarde said that rate hikes will not solve current problems of the euro area economy
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RBA Governor Lowe said at a parliamentary testimony that there is a big divergence between central bank and market expectations
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Cryptocurrencies are trading slightly lower - Bitcoin approaches $43,000 area while Etehereym drops below $3,100
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Commodities trade lower today under pressure from stronger USD. Brent and WTI trade around 0.8% lower. Gold trades 0.2% lower on the day while other precious metals drop over 1%
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USD and JPY are the best performing major currencies while AUD and NZD lag the most
Higher-than-expected reading of US inflation has triggered reversal on precious metals markets. Silver erased daily gains and finished yesterday's trading lower. Downward move is being continued today with price attempting to make a break below the support zone at $23 per ounce, marked with previous price reactions and a 50-session moving average. Source: xStation5
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