Dollar Strengthens After Fed Hinted Tapering This Year, High-Beta Weighed By Negative Sentiment
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MARKET RECAP
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1️⃣ Asian stock markets closed lower, following Wall Street’s decline after the Fed said it would make a reduction in asset purchases this year.

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FOREX RECAP
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1️⃣ USD surged as the Fed says it will do a reduction in asset purchases this year.

2️⃣ AUD declined amid concerns over the COVID-19 outbreak and despite better-than-expected employment data.

3️⃣ Safe-haven currencies (JPY & CHF) soared amid negative sentiment on market.

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COMMODITIES RECAP
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1️⃣ Crude oil prices fell below the $64 per barrel, following concerns about the rapid spread of COVID-19 around the world, forcing some countries to impose restrictions at the border.

2️⃣ Gold slipped below the $1,780 level, amid concerns of a COVID-19 spread and a surge in the US dollar.

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Economic Data Focus On Today
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1️⃣ FOMC Meeting Minutes for July (02:00 Malaysia Time) — No Prediction — No prediction from the central bank.

2️⃣ Australian Employment Data for July (09:30 Malaysia Time) — Bearish Prediction — The latest lockdowns in the country may hurt labor markets.

3️⃣ US Philly Fed Manufacturing Index for August (20:30 Malaysia Time) — Bearish Prediction — Empire State Index declined.