Investors Turn Risk-Averse after Japan's Downgrade, Disappointing US Data
BonTradeInvestors turned risk averse after S&P cut Japan's credit rating to AA- for the first time in 9 years. Separately, US durable goods orders surprisingly contracted in December while initial jobless claims increased more than expected. Currently trading at 87.3, the front-month contract for WTI crude oil has been fluctuating within 86.3 and 87.7 today. Gold price pared gains made earlier in the day. Near-term outlook for gold has turned bearish recently.
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Investors Turn Risk-Averse after Japan's Downgrade, Disappointing US Data
