Commodities are susceptible to further decline as investors remain concerned about the growth outlook. The debt ceiling debate in the US continued and President Barack Obama warned that failure of doing so could ‘unravel the entire financial system’ and result in a ‘a worse recession than we’ve already had’. Sovereign debt situation in the European periphery is under the spotlight as meetings of the Eurogroup and Ecofin officials today and tomorrow. More details on the fate of Greece will be disclosed afterwards.
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China Bans Diesel Exports, Likely to Turn to Net Importer in Coming Months
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