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Oil is recovering after fall, bond yields restores traction



Oil recovered from a heavy fall while European stocks and bonds were in the red on Thursday.



06.Jul.17 11:57 PM
By Daria Zaytseva
Photo Toinnov.com

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Oil is recovering after fall, bond yields restores traction

Markets waited to see if ECB meeting minutes would give clues on the bank's next moves. The Federal Reserve gave mixed signals on Wednesday.

The euro and the dollar were flat to each other but the South African rand, Turkish lira and Russian ruble stuck again after a wave of sales in emerging markets on Wednesday.

Bond yields, which drive global borrowing costs, were pushing higher again with benchmark U.S. Treasuries up for the sixth day in the last seven at just over 2.34%.

Brent crude in early European deals accounted for $48.35 per barrel as it recovered 1% from 4%, lost on Wednesday after the growth of OPEC exports has raised new questions about the group's plans to reduce supply.

The gold went down by 0.2% and amounted to $1.224.24 per ounce, although this was associated with an 8-week low of $1.217.14, which had been made the previous day.

The dollar meanwhile is stagnating at 113.32 Japanese yen, as this week it has consolidated nearly 1% increase and also fluctuated at the level 1.13495 per euro.

In Europe, gains were back in focus. The pan-European STOXX 600 fell 0.2% ahead of the ECB's minutes. Euro zone blue chips and Britain's FTSE 100 were down a similar amount.




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