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News of more crude supply from Libya and Nigeria sank oil
prices and sank energy shares in overnight trades. The news eclipsed the
fall in US crude inventory reported overnight by DoE. Risk appetite dried
up and DJI and S&P ended in small red. Elsewhere, GBP was squeezed
higher against the USD after the ILO report came in better than expected.
The employment addition was higher at 174K. Average weekly earnings
softened to 2.3%y/y from previous 2.5%. Consensus was expecting a weaker
number at ...
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