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Asian markets correct part of yesterday's losses

China's property market cooling measures scared investors, provoking a selloff in plenty of Asian equity indexes. Today, the market bought the cheaper indexes: China's Shanghai Composite (+2.33%), South Korea's Kospi (+0.17%), Hong Kong's Hang Seng (+0.46%). Chinese Premier Wen Jiabao announced a 7.5% growth target for 2013 at China’s National People’s Congress that kicked off today. Japan's Nikkei Stock Average continues edging higher (+0.27%) on hopes of news from the BoJ.

Futures for the German DAX 30 and French CAC 40 are signaling a higher opening by +0.50% ahead of February Markit Services PMI in the Euro countries. Retail Sales in the EMU are due at 10:00 GMT.

Forex: GBP/USD consolidates above 1.5100

The sterling is posting meager gains on Tuesday, leaving behind the previous comfort zone in the mid 1.50s to follow through 1.5100, ahead of the Halifax House Prices and the final result of the services PMI for February...
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Forex: AUD/USD retreats from highs, around 1.0232

After peaking above 1.0250, the Aussie dollar is now retreating to the 1.0230/35 region, after better-than-expected domestic results plus the RBA decision to remain on hold have boosted the AUD...
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