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Fed's Beige Book Indicates Modest Economic Growth

The Federal Reserve released its Beige Book, a compilation of anecdotal evidence on economic conditions in each of the twelve Fed districts, on Wednesday. The Beige Book said contacts from most Fed districts indicated economic growth was modest during July and August.

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Swiss Market Ends Modestly Lower

The Switzerland stock market ended weak on Wednesday, in line with markets across Europea, as worries about economic slowdown, inflation and prospects of further monetary tightening by global central banks weighed on sentiment.

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European Markets Close Lower As Inflation, Growth Concerns Weigh

European stocks closed lower on Wednesday, weighed down by rising concerns about inflation due to high oil prices, slowing economic growth, and possibility of further monetary tightening by global central banks.

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U.S. Dollar Climbs As ISM Services PMI Exceeds Expectations

The U.S. dollar strengthened against its major counterparts in the New York session on Wednesday, as ISM non-manufacturing PMI came in higher than expected in August, raising the prospect of higher for longer rate policy by the Federal Reserve.

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Canadian Market Firmly Down In Negative Territory After BoC Holds Rates

The Canadian market is down firmly in negative territory in early afternoon trades on Wednesday, weighed down by losses in healthcare and utilities sectors.

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U.S. Services Index Unexpectedly Indicates Faster Growth In August

Activity in the U.S. service sector unexpectedly grew at a faster pace in the month of August, according to a report released by the Institute for Supply Management on Wednesday. The ISM said its services PMI rose to 54.5 in August from 52.7 in July, with a reading above 50 indicating growth in the sector.

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Loonie Mixed After BoC Decision

As expected, the Bank of Canada kept its policy rate steady at 5 percent. Following the announcement, the loonie traded mixed against its major opponents. While it fell against the greenback, it rose against the rest of major rivals.

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Swiss Franc Falls Against Majors

The Swiss franc declined against its major rivals in the European session on Wednesday.

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Amazon Sues Bad Actors Attempting To Use Social Media To Knowingly Sell Counterfeit Luxury Items

Amazon.com, Inc. (AMZN) and its Counterfeit Crimes Unit (CCU) announced Wednesday the filing of two new lawsuits against Kamryn Russell, Ashley Hawat, and their co-conspirators who knowingly attempted to evade Amazon's brand protection systems in an effort to promote, advertise, and facilitate the sale of counterfeit luxury fashion goods such as jewelry, handbags, and accessories.

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German Factory Orders Slump Adds To Recession Concerns

Germany's manufacturing sector orders decreased in double-digits on a monthly basis in July, which was much more than forecast, largely due to a big order for air and spacecraft in the previous month, and added fuel to worries that the biggest euro area economy may be headed for a recession.

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