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Gold falls as U.S.-China trade deal hopes whet risk appetite
Author: WilfredCherry
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Gold falls as U.S.-China trade deal hopes whet risk appetite
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Dovish ECB Lifted Risky Assets. WTI Crude Rebounded Sharply on Distillate Stockpile
Market sentiment rebounded after ECB signaled to add more easing measures in March. European equities soared with the Stoxx 600 index gaining +1.93% at close. Wall Street climbed higher with DJIA and S&P 500 indices adding 0.74% and +0.52$ respectively. Crude oil prices also rebounded strongly. The front-month WTI contract jumped to as high as 30.25 before settling at 29.53, up +11.22% while the Brent contract gained +4.91% for the day.
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Dovish ECB Lifted Risky Assets. WTI Crude Rebounded Sharply on Distillate Stockpile -
Crude Retreated on Profit-Taking, after Sharp Fall in US Stockpile
Crude oil prices retreated in European morning, following the rally in the prior day. We believe the strength yesterday was mainly driven by USD weakness and the sharp decline in US inventory. The front-month WTI contract added +2.15% on Wednesday, following a +3.44% increase on Tuesday.
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Crude Retreated on Profit-Taking, after Sharp Fall in US Stockpile