Margin squeeze
Brent prompt futures continued to rally to 54.7 $/b on early Thursday as Saudi Arabia guaranteed that their voluntary supply cut would last two months…
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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.