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Oil prices consolidate as U.S. crude oil inventories decline, but waning optimism over the Chinese economic stimulus and rising Middle East tensions keep markets in a cautious state. -vtmarkets.com
Key points: Australian dollar hit a 19-month high, with bullish momentum pushing towards $0.7030. New Zealand dollar reached yearly highs, moving close to a crucial resistance level at $0.6412. We saw the Australian dollar climbing to $0.6890, coming close to …
Gold prices remained elevated at $2,658.07 per ounce after reaching a record high of $2,664.25. This move higher can be traced to two major factors. First, the dollar weakened by 0.2%, making dollar-denominated gold cheaper for holders of other currencies. …
The euro dropped on weak PMI data in Germany and France, raising expectations of ECB rate cuts. Investors now foresee 44 basis points in reductions by year-end. -vtmarkets.com
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