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Market on Risk-Off Tone as Data Show Slowing Manufacturing Activities + MORE

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Bigger-than-expected decline in US oil inventory lifted sentiment, sending energy prices and equities higher. The front-month WTI crude contract extended strength to a new 2016-high of 49.75 before ending the day at 49.56, up +1.93% while the Brent contract rose to as high as 49.96 before setline at 49…

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Market sentiment began with week with a softer tone, as manufacturing PMI in both the US and Eurozone surprised to the downside. Wall Street ended the day lower with DJIA and S&P 500 indices slipping -0.05% and -0.21% respectively. Europe’s Stoxx 600 index dropped -0.39%. US dollar dropped with the DXY index losing -0…

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Regulations are nearly always introduced with the best intentions.
In financial services, they aim to stop unscrupulous brokers and banks from ripping off the public through bad practices. Manufacturers are banned from making products which are dangerous to children, the environment, or which might fail through shoddy workmanship…

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This week, clients have continued to net buy silver and platinum, whilst net selling gold and palladium.
Clients have been seen taking advantage of the lower pricing on precious metals as silver still remains below $16.50/oz.
GoldMoney’s clients have favoured the Singapore and Swiss vaults this week, with less preference being shown for the London vault…

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Flash manufacturing PMI from the Eurozone sent a mixed signal of the region’s economic growth. Headline reading for the bloc as a whole slipped -0.2 point to 51.5 in May. The market had anticipated improvement to 51.9. The PMI Composite Output Index dropped -0.1 point to 52.9, the lowest level in 16 months…

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US dollar firmed on intensifying speculations of Fed funds rate high in June. The DXY index rose to an 8-week high of 95.66 before ending the day at 95.57, up +0.36%. The greenback strengthened against major currencies with exception of British pound which rallied after a poll showed that support for the UK to remain in the EU is well above to leave…

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