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Daily Alert: Reading the tea leaves for taper signs

  • At the weekend US Fed Chairman Powell spoke at the Jackson Hole central bank (virtual) gathering, with all the focus on comments the Chair had to say about the changes of the Fed tapering its asset purchases.
  • Global oil prices rose by around on Friday as US oil producers began to shut production facilities in the Gulf of Mexico ahead of the expected arrival of a hurricane.
  • In local data, ANZ releases the full August month business outlook survey results on Tuesday 31st August at 1pm.

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