(28 MAY 2020)DAILY MARKET BRIEF 2:WTI crude retreated below $32

<p>The US dollar is weaker across the board on the back of a resilient risk appetite, but a worse than expected US GDP read could change the appetite for dollar. Demand in other safe haven assets, such as US treasuries and gold, remains solid.
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<p>It is better to be prepared against an eventual risk sell-off than being caught unhedged – this is what the activity in gold tells us. Gold finds decent dip buyers below the $1700 per oz and is set to return to its safe zone, near the $1725/oz.
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<p>The USDJPY doesn’t gather the necessary strength to push above the 108 mark, and the USDCHF consolidates below 0.97.
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