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27th August 2021 Morning Report

Friday 27th August 2021

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U.S. markets fell Thursday after the two explosions at Kabul airport. The Dow Jones Industrial Average lost 0.54%, while the S&P 500 and the Nasdaq Composite fell 0.58% and 0.64%, respectively. Twelve US soldiers were killed , with more than dozen injured. The markets await FED chair Powell’s speech on Friday, when he may signal, as to when the FED will begin to scale back asset purchases and increase interest rates. Member of the Fed board Esther George, commented that  on the back of  a continued labour market recovery and strong inflation numbers it "would suggest that there's an opportunity to begin to dial back on asset purchases" and that "the conversation about that is already underway”.  Other overseas markets were mostly lower, with Germany’s DAX 30 sliding 0.42%, France’s CAC 40 moderately down 0.16% and Britain’s FTSE 100 falling 0.35%. Hong Kong’s Hang Seng index and China’s Shanghai Composite lost 1.08% and 1.09%, respectively, while Japan’s Nikkei 225 eked out a 0.06% gain. South Korea’s Kospi lost 0.58% after the the bank of Korea increased interest rates. 

West Texas Intermediate crude oil was 94 cents down to $67.42 a barrel and gold ticked was marginally up by $4 to $1792.20 an ounce. 

Morning Report 27 August 2021


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