Markets are trading cautiously this morning ahead of key US jobs data due later today. A strong report will increase the chances that the US Fed will begin tapering in November.

Equity markets rallied back yesterday after the US Senate voted to lift the debt ceiling and avoid a credit default that would have been “catastrophic” according to Treasury Secretary Janet Yellen.

In China, the Caixin Services PMI indicated a return to growth by rising to 53.4 in September. Up from 46.7 in August, the lowest level since the height of the pandemic last year.

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