Strength from the East
Crude time spreads gave a boost to the crude complex, by hiking to 25 cents backwardation at the prompt, while front-month ICE Brent crude reached…
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At the same time, the rebound of the USD reflects both this nervousness, but also the possibility that the anticipated tightening of ECB policy will be lighter than expected.
Japanese GDP growth was revised from +0.3% to +0.5% q/q in Q2. The economic calendar is still light today. The euro is trading below USD 1.184.