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US indices finished yesterday's trading lower. S&P 500 dropped 1.03%, Dow Jones moved 1.11% and Nasdaq dropped 0.60%. Russell 2000 moved 1.41% lower
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In spite of a poor Wall Street session, indices from Asia-Pacific traded higher today. S&P/ASX 200 gained 0.3%, Nikkei added 0.4% while indices from China traded up to 0.7% higher. Kospi was a laggard and dropped 0.8%
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DAX futures point to a slightly higher opening of the European cash session
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According to Reuters report, Chinese authorities asked brokers and fund managers to purchase domestic stocks in order to help stabilize markets ahead of Communist Party Congress
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Fed Mester said that restrictive levels of rates may be needed for some time and that more rate hikes should come. She said that current policy rate may be just below restrictive levels now
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Japanese yen is among G10 top laggards after BoJ conducted unscheduled bond buying auction
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GBPUSD recovered most of the losses made after the BoE statement yesterday in the afternoon. Bank of England said that it does not plan any emergency intermeeting moves and that full assessment of new UK fiscal measures will come at the next meeting in November
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World Bank lowered 2022 GDP growth forecast for China from 5.0 to 2.8%
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Chinese industrial profits dropped 2.1% YoY in January-August period
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Cryptocurrencies are on the rise with Bitcoin trading 5.4% higher on the day and returning to $20,000 area
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Commodities benefit from USD weakening. Oil trades 1.5% higher while gold jumped 0.7%
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GBP and NZD are the best performing G10 currencies while USD and JPY lag the most
GBPJPY managed to recover most of the losses yesterday and painted a candlestick with long, lower shadow in the vicinity of an important price zone (154.00). Rebound is being continued today but the pair is yet to retest yesterday's daily highs in the 157.20 area. Source: xStation5
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