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Wall Street indices ended yesterday's session with slight gains - S&P 500 and Nasdaq 100 contracts were up between 0.10-0.20%. US500 contracts closed around 5080 points.
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Most Asia-Pacific indices are recording a weaker session - Japan's Nikkei is down 0.10%, Australia's S&P/ASX 200 is 0.35% lower, and Chinese indices are losing between 1.10-1.60%.
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Futures contracts for European indices also indicate a slightly lower opening for the cash session on the Old Continent.
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In the forex market, there are no major changes in the first part of the day except for the Australian dollar (NZD), which is losing between 0.80-1.00% against most currencies following the Reserve Bank of New Zealand's (RBNZ) interest rate decision.
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The Reserve Bank of New Zealand kept interest rates unchanged at 5.50%.
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The decision matched the expectations of 22 out of 24 economists surveyed by Bloomberg. New forecasts from the bank indicate less chance of a rate hike this year, but no cuts until 2025.
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At a press conference, Bank Chairman Adrian Orr said further hikes were discussed among board members. However, the board ultimately reached a firm consensus that the current level of interest rates is sufficient. Domestic inflation remains high, but prices are falling at the expected pace.
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Adrian Orr noted that central banks might maintain interest rates at peak levels longer than financial markets expect. However, the base scenario is a soft landing for economies.
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Eleven Chinese naval ships were detected near Taiwan, Taipei's defense ministry reported on Wednesday. This is another move by the Chinese military this year.
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Barclays raised its target price for the S&P 500 index by the end of 2024 to 5300 points from the previous 4800 points.
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Problems in the Chinese real estate market continue. Today, Chinese developer Country Garden Holdings announced that a liquidation petition has been filed against it. The proceedings are due to the non-repayment of a $205 million loan. The company disagrees with the petition filed by the creditor, Ever Credit Limited.
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Cryptocurrencies continue to rise. Bitcoin remains above $57,000, gaining 0.15%, while Ethereum gains 0.45% to $3260 USD. Smaller projects are currently experiencing a pullback, with the total cryptocurrency capitalization excluding BTC and ETH flat at a value of $574 billion USD.
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