Wednesday Morning Recap: Laying Low Ahead of First Ever FOMC Post Decision Press Conference – Morning Notes

– Fairly quiet trading ahead of FOMC press conference
– Nikkei rallied to close up 1.4% despite S&P downgrade of the outlook on the country’s debt
– China’s Shanghai Comp and Hong Kong’s Hang Seng both closed down 50bps
– Strength in Aussie as a result of Australia CPI coming in higher than expected
– European bourses are mixed
– UK GDP came in in-line, despite whispers of a miss- hence, the cable rallied on the data release
– Concerns around Greece lingering- Greek debt yield hit another new high this morning (as did Portuguese yields)
– Commodities are relatively quiet today as well

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