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Market Update

Oil Closes Higher on Positive Expectations

Oil prices rose on Tuesday for the second consecutive session, supported by positive expectations about easing preventive measures against the Coronavirus pandemic. Brent crude futures for July delivery gained $1.32, or 2%, to close at $68.88 per barrel. Meanwhile, the U.S. West Texas Intermediate (WTI) June futures increased by $1.20, …

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Gold Finishes Lower as USD Rises

Gold closed lower on Tuesday, after remarks by the U.S. Treasury Secretary, Janet Yellen, pointed to a possible interest rate hike to prevent the economy from overheating. Recent remarks by Fed officials indicated that despite recovery signs the economy is yet to achieve the central bank’s employment and price stability …

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Yellen: Interest Rates Might Need a Raise

The United States Secretary of the Treasury, Janet Yellen, suggested on Tuesday that raising interest rates might be necessary in order to avoid the economy overheating amid increased government stimulus spending and investment plans. “It may be that interest rates will have to rise somewhat to make sure that our …

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