- Wall Street indices finished yesterday's trading lower. S&P 500 dropped 0.89%, Dow Jones moved 0.43% lower, Nasdaq slumped 1.67% and small-cap Russell 2000 dipped 0.93%
- There was no direct news that could justify the sell-off on Wall Street yesterday, and the move seems to be driven by uncertainty over whether Fed Chair Powell will confirm September rate cut today or not
- Indices from Asia-Pacfic traded mostly higher today - Nikkei gained 0.4%, Kospi and Nifty 50 added 0.1%, while S&P/ASX 200 dropped 0.1%. Indices from China traded mixed
- European index futures point to a more or less flat opening of the cash session on the Old Continent today
- Japanese yen gained after BoJ Governor Ueda took part in special parliamentary session during which discussions on recent BoJ policy moves were held
- Ueda said that Bank of Japan will adjust monetary easing if Bank's economy price outlook is likely to be achieved
- Ueda also said that real rates are likely to remain negative and easy financial conditions will continue to support economy
- ECB Kazaks said that there is no reason not to follow on projections for rate cuts and that he is very much open to discussing rate cut at September meeting
- Japanese CPI inflation remained unchanged at 2.8% YoY in July, while core inflation accelerated from 2.6% to 2.7% YoY (exp. 2.7% YoY)
- New Zealand's retail sales dropped 1.2% QoQ in Q2 2024 (exp. -1% QoQ)
- Major cryptocurrencies trade higher - Bitcoin gains 0.5%, Ethereum trades 1.6% higher and Dogecoin gains 1.5%
- Precious metals trade higher - gold gains 0.4%, silver and palladium rally 1.1% and platinum adds 0.7%
- JPY and AUD are the best performing major currencies, while USD and CHF lag the most
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