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Aussie gold production hits all-time high
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Aussie gold production hits all-time high
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Crude Oil Steadied after Selloff, Chinese Outlook Remains Worrisome
Crude oil price steadied in European session after the sharp selloff yesterday, led by the rally in stock markets despite mixed economic outlook. On Monday, the front-month contract for WTI crude plummeted to a 4-day low of 99.28 before ending the day at 99.74, down -1.81%. The Brent crude contract tumbled to 105.10, the lowest level since last November before settling at 105.62, down -1.99%.
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Crude Oil Steadied after Selloff, Chinese Outlook Remains Worrisome -
Ukraine, ECB in Focus
Tensions in Ukraine again grabbed the headlines as Crimean parliament has voted to join Russia and a referendum would be held on March 16 for endorsing the move. This has unnerved both Ukraine’s interim government and the US. While Ukraine’s interim PM Yatsenyuk warned of the illegitimacy of the referendum, US President Obama has signed an executive order authorizing sanctions on persons and entities responsible for violating the sovereignty and territorial integrity of Ukraine, including travel restrictions. European leaders would meet today, but nothing morning than a warning to Russia is expected.
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China’s Liquidity Injection Lifted Sentiment, Shrugging Off IMF’s Warning over Deflation Risk
Asian shares gain a tad as China announced to have injected funding to the market. The news has shrugged off the IMF’s warning that low inflation in advanced economies might lead to deflation. Wall Street was mixed with the DJIA losing -0.27% and the S&P 500 index gaining +0.28% respectively. In the commodity sector, crude oil prices gained the IEA raised its 2014 global demand growth forecast.
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China’s Liquidity Injection Lifted Sentiment, Shrugging Off IMF’s Warning over Deflation Risk