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A Gold Trade For When Everything Goes Wrong
Author: MattieJasso7
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A Gold Trade For When Everything Goes Wrong
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Crude Oil Prices Jumped, Helped by USD Weakness and Inventory Draw
US dollar extended another leg lower ahead of holiday, on the heels of the November FOMC minutes. The market focused on the discussions of potential persistence of weak inflation and dumped the greenback, sending it -1.09% lower against Japanese yen and -0.91% against Swiss franc. The DXY index slipped -0.78% for the day. Treasuries gained ground, with yields lower. 2-year yields dropped -5 points to 1.73% whilst 10-year yields were down -4 points to 2.32%.
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Crude Oil Prices Jumped, Helped by USD Weakness and Inventory Draw -
Crude Oil Mixed as Inventory Soared and World Bank Cut Price Estimates
Crude oil was mixed as Work Bank trimmed oil price forecast for this year and API estimated a huge increase in US inventory. The front-month contract for WTI crude oil dropped for a second consecutive, by -0.74% to 45.55, while the Brent contract added +0.21% to close at 48.71.
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Crude Oil Mixed as Inventory Soared and World Bank Cut Price Estimates