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Stocks in Asia trade lower following a release of disappointing data from China. Kospi is one of the few indices from the region that trades higher
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Chinese monthly data for August turned out to be a disappointment. Retail sales increased 2.5% YoY (exp. 7.2% YoY), industrial production was 5.3% YoY higher (exp. 5.8% YoY) while urban investments increased 8.9% YoY (exp. 9.2% YoY)
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Both European and US index futures trade flat compared to yesterday's cash closing prices
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Gary Gensler, chief of US SEC, said that he would support legislation that would allow for faster delisting of Chinese companies that do not comply with disclosure rules
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According to Japanese Coast Guard, North Korea has launched another two missiles into the Sea of Japan
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Hyundai plans to suspend auto production from September 15 to September 17 due to semiconductor shortage
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Japanese core machinery orders increased 0.9% MoM in July (exp. 3.0% MoM)
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API report suggested a 5.44 million barrel draw in oil inventories (exp. -3.8 mb)
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Moods on the commodity markets are mixed. Precious metals drop, oil and industrial metals gain while agricultural goods trade mixed
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CAD and JPY are the best performing major currencies while NZD and CHF lag the most
In spite of a miss in the Japanese core machinery orders data, Japanese yen is one of the strongest major currencies today. As a result, USDJPY broke below the downward trendline that marks the lower limit of the ascending triangle pattern. The next near-term support to watch can be found in the 109.30 area. Source: xStation5
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