Market Looks for Direction

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Investors sought shelter in safe haven currencies yesterday as fears of further stimulus for the US economy faded following upbeat jobless claims data. The focus across the Atlantic has shifted on to consumer confidence data due later today. Meanwhile, China’s second quarter GDP data released earlier today matched market expectations. Across Europe, Italian bond auctions are expected to grab the spotlight today following a surprise credit rating downgrade by Moody’s.

At home, with no major economic data scheduled in today’s trading session, traders are likely to position themselves for a raft of macro releases due next week.

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Market Looks for Direction

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