Commodities Recover as Supported by Strong Economic Data

Commodities recovered in European session after selloffs over the past 2 days. The front-month contract for WTI crude oil has been staying above 88 but failed to test 90 again so far today. The focus is now on IEA's monthly report and OPEC's general meeting in Ecuador over the weekend. Precious metals also rebounded but downside risks remain in the near-term.

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Commodities Recover as Supported by Strong Economic Data