Speculations of resumption of ECB’s SMP lifted market sentiment. Financial markets rose with the DJIA and the S&P 500 gaining +0.70% and +0.74% respectively. In the commodity sector, crude oil rebounded with the front-month contract for WTI crude oil gaining +1.66%. The equivalent Brent crude contract initially plunged to a 2-month low of 119.05 before rebounding to 120.18 at close. Gold changed little after the rally last week.
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Sentiment Lifted by SMP Hopes
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