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The session in the Asia-Pacific region is proceeding in a slightly positive mood, but volatility is limited. The market in Japan, which has been the main driver of recent volatility, remains closed today due to the Mountain Day holiday.
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The key macroeconomic data this week is the U.S. CPI inflation report for July. The publication is scheduled for Wednesday at 1:30 PM BST. Expectations assume CPI to remains at 3.00% year-on-year, unchanged from the June reading. However, there is speculation that the data might show a drop below 3.00% for the first time in this cycle.
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Chinese indices are up by approximately 0.40-0.60%, the Australian S&P/ASX200 is down 0.25%, and futures contracts on the Singapore index SG20cash are down 0.95%.
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European futures contracts also indicate a higher opening for the cash session on the Old Continent. The UK100 is up 0.20%, and the DAX is up 0.10% to 17,860 points.
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On the forex market in the first part of the day, we are observing a weakening of the Japanese yen. The USDJPY pair is up 0.35% to 147.1400. On the other hand, the Australian and New Zealand dollars are among the strongest currencies, with gains ranging from 0.1% to as much as 0.7%.
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In global policy, US Defense Secretary Lloyd Austin is accelerating the pace of deployment of the Abraham Lincoln aircraft carrier group and assist submarines to the Middle East. This is in response to the threat of an imminent Iran/Hezbollah/Hamas attack on Israel.
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Michelle Bowman commented on Saturday on the situation surrounding US monetary policy. The banker stated that upside risks to inflation remain, including housing and geopolitical factors, and urged patience in monetary policy decisions.
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The Australian central bank said on Monday that economic forecasts are fraught with significant uncertainty, which is one of the reasons why policymakers have kept interest rates unchanged while awaiting more data.
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Catherine Mann, a member of the BoE's monetary policy committee, said in an Economics Show with the Financial Times that the prices of goods and services will rise again, and wage pressures in the economy could take years. Mann remains concerned about the risk of rising inflation, despite the main interest rate remaining at 2% in June.
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Bitcoin failed to stay above the $60,000 level over the weekend. On Sunday, at the end of the day, there was a drop below this level, and today, the decline is 0.30%, bringing it down to $58,500.
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