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Five things traders need to know today

πŸ“‰US and European stocks continued the decline last week as the strong economic data boosted the taper expectation. The Hang Seng Index tumbled nearly 5% on worries of Evergrande’s default risk. Nikkei 225 gained for a fourth straight week. Germany's DAX 30 will be upgraded to DAX 40 today.

😟 Gold fell 1.9% on the week to $1,753.83 amid the rising Treasury yields, while Silver lost 5.7% to the lowest level since early August. WTI crude (SpotCurde) jumped above $72. Bitcoin traded near $47,000 over the weekend.

πŸ’² The US dollar index (USDX) regained 93 as the yield on 10-year Treasury rose to 1.36%. The FOMC meeting this week is expected to offer more clues on the Taper timeline. USDCHF broke above the 2.5-year-old negative trendline to 0.9322.

⏬ EUR extended the losses to 1.1725 amid the USD strength. GBP ended the week lower at 1.3727 despite UK’s strongest CPI growth since 2012. The Bank of England is scheduled to meet this Thursday.

πŸ”» AUD posted a 1.2% weekly loss and closed at a three-week low of 0.7264. NZD was lower at 0.7034, shrugging off the better-than-expected Q2 GDP in New Zealand. USDCAD rose to 1.2769.
What we know from the US Central Bank Meeting so far:

1) Taper as expected by $15bln a month. But want to retain flexibility based on economic outlook

2) Nice little break glass in case of emergency "expected to be transitory" clause inserted in the statement in regards to inflation.

3) Now we have to see if Powell pushes back against market's aggressive rate hike pricing.

Dollar happy - Gold unhappy
Happy Monday Everyone! 😍πŸ₯°