Crude Prices Soared as Fed Turned More Dovish

Asian shares soared as the Fed sent a more dovish message at the July meeting. Moreover, the US ADP employment report and the flash estimate of the 2Q13 GDP growth came in stronger than expected. However, Wall Street had a volatile day, gaining initially but ending the day modestly lower. In the commodity sector, crude oil prices jumped after a number of US headlines.

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Crude Prices Soared as Fed Turned More Dovish