Oil Plunges as US Data Signal Slowdown. Gold Strengthens as USD Weakens, Moody's Downgrades Greece
BonTradeUS economic data continued to disappoint the market, sending stocks, oil and USD lower. WTI crude oil prices fell from a 3-week high after ADP reported less-than-expected payroll addition in May. Sentiment was also dampened by ISM manufacturing which fell significantly. Gold jumped after initial pullback as driven weakness in USD. Robustness in demand signaled the metal remained appealing although Greece may be allowed to tap more funds from the EU/IMF.
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Oil Plunges as US Data Signal Slowdown. Gold Strengthens as USD Weakens, Moody's Downgrades Greece
