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WTI: To 50, Then Bust?
The North American trading session has simply been a celebration of US domination as the USD has returned to the ‘King Dollar’ throne (at least for a day) and US equity markets had one of their best days in recent weeks. In addition, commodities like gold and oil declined and are threatening to fall even further if certain dynamics play out, but more on that in a minute. Helping the US-centric celebration were data releases that were extremely encouraging including Personal Income that increased 0.4% on expectations of only 0.3%, and Pending Home Sales which surged 3.1% when only 0.5% was anticipated. The only ... (full story)