•Most Asian markets were higher at the start of trading •Saudi Arabia said it would cut production and limit August exports to 6.6mln b/d •Gold snapped its six-day rally and reserved slightly from its five-week high •The US released its flash PMI data yesterday with a beat in the manufacturing PMI that came in at 53.2 vs consensus at 52.3. •However, the US home resales that were released shortly fell more than expected in June as a dearth of properties amid strong demand pushed prices to a record high, keeping first-time buyers on the peripheral. •Despite last month's decline, June's sales pace is 0.7% above a year ... (full story)