Market Comment | Oil prices breach $50 pb in the day but trim gains later

Summary

Positive macroeconomic data in the US. US initial jobless claims dropped by more than expected in the week ended 21 May (268K; consensus: 275K, previous: 278K). On another front, durable goods orders preliminary data showed a surge in April (by 3.4% MoM; consensus: 0.5%), while ex transportation also rose (by 0.4% MoM; consensus: 0.3%). In […]

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