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ASIA STOCKS: Japanese and Australian stocks rising after the expected rate cut by the RBA. Nikkei is now up 0.6% from 0.39% before the rate cut release. The Australian benchmark is up 1.14% from 1.04%.
AUSTRALIA: Economists at ANZ have revised up their forecast for Q1 GDP sharply to 1.0% q/q growth from previous forecast for 0.5% growth. The main contributors to this upward revision were stronger than expected business investment growth, and smaller subtractions from growth from non-farm inventories and net exports, ANZ said.
US STOCKS: A late session rally Monday allowed stocks to erase losses though Dow was not quite able to get back in the black.
EUROPE: UK markets remain closed Tuesday, which will likely help dampen trading volumes in Europe. However, there is a raft of European data (...)
EUROPEAN STOCKS: London markets are again closed Tuesday, as the celebration of the Queen's Diamond Jubilee continue. However, the rest of Europe is open and markets are seen opening higher. Spreadbetters Cantor Index are calling the DAX up 34, the CAC up 19 and the Ibex higher by 23.