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US markets in red on China, Fed tapering

FXstreet.com (Barcelona) - Shares in the US markets reverted initial losses after weaker than expected manufacturing PMI in the Chinese economy this early morning. The likeliness of the Fed tapering its bond purchases sooner than previously thought was also weighting on sentiment. The greenback, gauged by the US Dollar Index, is intensifying its correction lower, bouncing off lows around 83.60.
DowJones is now down 0.05%, followed by the Nasdaq, 0.14% and the S&P500, 0.32%.

Red was the dominating colour in Europe, as indices retreated markedly on Chinese data and Fed talk. Both the FTSE100 and the DAX were down 2.10%, followed by the CAC40, 2.07% and then IBEX35, 1.4%.
Positive day for the single currency, advancing to session highs around 1.2960 as risk aversion was fading away. However, the euro would remain under pressure as ECB’s Draghi will hold a speech in the European late evening.

Commodities are trading mixed, with the barrel of WTI losing 0.84% at $93.49 while the ounce troy of the precious metal is up 1.4% at $1,386.

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