Market Updates
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Major markets are consolidating as traders keep their powder dry ahead of key risk events later in the week. Forex pairs and indices have become rangebound. However, there is movement in commodities as a series of rebounds are starting to take hold.
Strong upside momentum on the USD has eased as Jerome Powell tempered the hawkish mood and Chinese inflation falls back. Caution ahead of Nonfarm Payrolls.
With reports stating that a deal has been made between President Biden and McCarthy, markets are awaiting for the agreement to pass by the Senate.
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