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American retail strong but Beige Book says overall expansion is modest; IMF upgrades China growth forecast; Aussie inflation won't fall; UST 10yr 4.63%; gold down and oil on hold; NZ$1 = 61.2 USc; TWI-5 = 70.6
(Wednesday market open) Comforting news on U.S. inflation provided Wall Street an early lift this morning, but expectations for a rate hike later this month remain extremely high.