(12 MAY 2020)DAILY MARKET BRIEF 2:oil remains firm on surprise Saudi cut.

<p>Gold finds buyers below the $1700 per oz, but the US treasury demand – despite low yields, should limit the safety inflows to the yellow metal as risk-averse investors remain skeptical regarding the gold’s capacity to hedge a sharp risk sell-off at the current levels.</p>
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<p>The USDJPY is offered into the 108 mark, as the Swiss franc sees limited gains on Swiss National Bank’s (SNB) increased efforts to deviate the safety inflows to fight the franc appreciation.</p>
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<p>Cable remains under the shadow of a stronger US dollar. Buyers are touted below the 1.23 mark, but there is not much appetite before Wednesday’s growth and production figures, which will throw light on the extent of the economic damages caused by the weeks-long business shutdowns in Britain.</p>