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A look at oil WTI crude settled down $1.43 to $63.58 today, a 2.2% drop. The decline comes after three solid days of gains in a row. The bulls continue to point to reopening demand while the bears point to new covid shutdowns and the OPEC+ overhang. In terms of market balance, global inventories are
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LONDON: Copper slipped on Thursday after briefly punching above the $10,000 level, last broken a decade ago, as speculators locked in profits amid worries about industrial demand. Three-month copper on the London Metal Exchange touched $10,008 a tonne before retreating 0.3% to $9,847 a tonne by 1400 GMT. The last time copper rose above $10,000
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LONDON: Copper paused near 10-year highs on Wednesday ahead of a policy announcement by the U.S. Federal Reserve, but analysts at Goldman Sachs joined others predicting a rally to record levels. Benchmark copper on the London Metal Exchange (LME) was up 0.3 per cent at $9,884.50 a tonne at 1637 GMT after reaching $9,965 on
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Initial reaction is USD selling There isn’t much to digest in the FOMC decision. There were no actions or changes to guidance. Powell will take questions shortly but if the statement is any indication, he’s not going to offer anything new. The early market reaction is modest US dollar selling. Some of that is a
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A steady session for Asian equities The Topix is seen closing up by 0.3% as Japanese stocks continue to consolidate after the drop seen in the early stages of last week. Elsewhere in the region, the Hang Seng and Shanghai Composite indices are both up 0.1%. All eyes are on the Fed today so market
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Australian Dollar tumbles broadly in Asian session after weaker than expected CPI data. Sterling is following as the second weakest , and then New Zealand Dollar. Dollar firms up mildly as traders await FOMC rate decision, but the rebound is mainly centered against Yen and Aussie. Indeed, Yen was under some notable selling pressure overnight
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