Financial Trading
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Despite markets continuing to price for more Fed rate hikes, major equity markets remain buoyant. The glass seems to be half full on Wall Street as positive US data points to a softer landing for the US economy.
USD made a storming recovery yesterday following an FOMC induced sell-off. With Big Tech stocks on Wall Street sharply lower, risk appetite is negative ahead of today’s Nonfarm Payrolls report.
Major markets have looked to rebound once more following a risk negative/USD positive bias through yesterday’s session. These rallies are likely to turn into consolidation as a crucial announcement from the FOMC is due later.
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