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Gold-Weekly outlook

Gold futures rallied to an 11-week high on Friday, after disappointing U.S. new home sales data dampened speculation the Federal Reserve will begin to taper its bond-buying program as early as September. Moves in the gold price this year have largely tracked shifting expectations as to whether the U.S. central ...

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EUR/USD higher on soft U.S. housing data

In trading on Friday, EUR/USD was up 0.32% at 1.3398, up from a session low of 1.3334 and off from a high of 1.3410. The pair was likely to find support at 1.3298, Thursday’s low, and resistance at 1.3452, Tuesday’s high. The Commerce Department reported earlier that new home sales ...

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Italy’s economy

Italy’s economy shrinks 0.2% in second quarter after a 0.6% contraction in first three months – economists had forecast a GDP fall of 0.4 to 0.5%

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US trade gap at narrowest since 2009

Oil imports decline and US businesses ship more goods overseas, pointing to stronger than initially expected growth in the April to June quarter

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Ice Swap Trade

Ice Swap Trade will trade credit derivatives linked to North American and European companies and countries

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Crédit Agricole

Crédit Agricole capital markets and investment banking unit posts a 23% rise in revenues during the second quarter

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Crude Oil Higher

Hedge funds increased bullish bets on WTI to the highest level since May 2011, according to the U.S. Commodity Futures Trading Commission.

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Speculators Bought Gold

Hedge Funds increased their net-long position by 4.1 percent to 35,691 futures and options, U.S. Commodity Futures Trading Commission data for July 9 show. Net holdings expanded even as speculators increased short bets to a record. Net-bullish wagers across 18 U.S.-traded commodities retreated 3.4 percent as investors became the most ...

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Australian Dollar Higher After China Growth

Australia’s dollar strengthened after a report showed China’s economy grew 7.5 percent in the second quarter, matching economists’ estimates. The Australian currency dropped last week after Chinese Finance Minister Lou Jiwei said this year’s expected growth rate is 7 percent and China can reach that.

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France lost its top credit rating at Fitch Ratings

France was cut by one step to AA+ from AAA, Fitch said today, joining Moody’s Investors Service and Standard & Poor’s in removing France from the shrinking club of top-rated governments. The outlook is stable. Read more in Forex

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