• US indices rallied yesterday and finished trading with big gains. S&P 500 gained 2.59%, Dow Jones moved 2.66% higher and Nasdaq added 2.27%. Russell 2000 gained 2.65%
  • Indices from Asia-Pacific followed into footsteps of US peers and rallied as well. Nikkei gained 2.8%, S&P/ASX 200 jumped 3.7% and Kospi traded 2.5% higher
  • DAX futures point to a higher opening of the European cash session today
  • Reserve Bank of Australia surprised with a smaller-than-expected rate hike of 25 basis points (exp. 50 bp). However, RBA said that it plans to keep rising interest rates in the coming months
  • Fed’s Williams said that policy rates are not yet restrictive for growth and that there is still a room for them for growth given a 4.6% median forecast in dot-plot
  • OPEC+ canceled the Joint Technical Committee meeting scheduled for tomorrow. Ministerial meeting is still scheduled to go
  • North Korea launched a ballistic missile that flew over Hokkaido, Japan’s second largest island, and landed in the Pacific Ocean
  • Australian building permits increased 28.1% MoM in August (exp. 5.0% MoM)
  • Cryptocurrencies are trading mostly higher, although the scale of gains is small. Ethereum gains 0.7%, Bitcoin trades 0.3% higher and Ripple drops 1%
  • Oil trades higher with both Brent and WTI adding around 0.8% today
  • Precious metals trade higher – silver jumps 0.5%, platinum trades 1% higher and gold trades flat
  • EUR and GBP are the best performing major currencies while AUD and NZD lag the most

AUDUSD took a hit following a smaller-than-expected RBA rate hike. Pair dipped and tested 0.6450 support zone in the aftermath of the decision. However, bulls managed to defend the area and push the pair back above the 50-hour moving average.

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