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European stocks higher amid solid PMIs
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US equities at record highs
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Oil gains as traders await OPEC+ decision
Global equity markets kicked off the third quarter on a positive note. European stocks finished the day higher and US markets post some gains as well. Investors welcomed today’s US jobless claims data that turned out to be better-than-expected - the print fell to lowest levels in 15 months. Markets will pay a lot of attention to tomorrow’s NFP report (1:30 pm BST) - a key report of the week.
Today’s manufacturing PMIs from European countries provided an upbeat outlook for the economy of the Old Continent - most readings came in above expectations. However, final manufacturing PMI from the US for June came in below preliminary data. ISM manufacturing data for June also fell short of expectations. The headline number stood at 60.6 (vs exp. 61.0) while price pressures intensified.
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Open account Try demo Download mobile app Download mobile appThe commodity markets are focused on the OPEC+. Oil prices reached fresh post-pandemic highs today amid reports that Saudi Arabia and Russia reached a preliminary deal on raising oil output. The decision may be released soon so many oil traders are currently staying on watch. At press time some reports suggest that the meeting has spilled into tomorrow.
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