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Oil slips below $76 as economic outlook weighs

Oil prices slipped below $76 a barrel on Monday as investors weighed a sharp drop in U.S. consumer sentiment against early signs of improved oil demand. Analysts said oil prices were moving in a range around $75 per barrel with ample support due to large drawdowns in U.S. crude oil stocks over the past three weeks.

Stock futures higher as earnings heat up

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Stock index futures were higher on Monday, indicating the S&P 500 could rebound from its worst one-day drop since June 29 on Friday, as earnings season kicks into high gear.
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Gold eases below $1,190

Gold eased below $1,190 an ounce in Europe on Monday, extending the previous week's 1.5 percent fall, due to lower investment demand for the precious metal as appetite for other assets improved. Spot gold was bid at $1,189.55 an ounce at 1112 GMT, against $1,193.10 late in New York on Friday. U.S. gold futures for August delivery rose $2.00 an ounce to $1,190.20.
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How do the new anti-Iran sanctions affect oil?

Decades of sanctions against Iran have stunted its economic development and the growth of its all-important oil sector. The international community, led by the United States, has made sanctions more and more stringent as Iran has refused to abandon its nuclear programme.
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Gold eases as deflation signs outweigh euro-crisis

Gold eased in Asia on Monday after see-sawing most of the day as selling on low inflation signals gave way to safe-haven buying on concern over Hungary's debt crisis and a cut to Ireland's sovereign rating. But by late afternoon, bearish sentiment had again gripped the sector, sending bullion down by more than $2 an ounce.
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Euro recovers after fall on Ireland downgrade

The euro stayed below two-month highs versus the dollar on Monday, dented by a downgrade of Ireland and the suspension of talks between Hungary and the IMF, but recovered as traders awaited results of bank stress tests. Moody's Investors Service downgraded Ireland's sovereign bond rating to Aa2 with a stable outlook from Aa1.
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Stocks ease and euro steadies from early fall

Global stocks slipped on Monday and investors briefly shunned the euro after Moody's cut the credit rating of Ireland, slightly unsettling markets already worried about a slowdown in the pace of U.S. economic recovery.
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Oil steadies near $76 as investors mull econ data

Oil prices steadied near $76 a barrel on Monday, pausing from the previous session's decline, as investors weighed the sharp drop in U.S. consumer sentiment against early signs of improved underlying oil demand. Analysts said the marginal slide in oil prices shows that crude was receiving ample support above $74 a barrel, thanks to bullish inventory reports that showed large drawdowns in U.S. crude stocks over the past three weeks.
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Global stocks retreat on Ireland downgrade

The euro extended losses on Monday, pulling further away from two-month highs, after Moody's cut Ireland's credit rating, highlighting the fragility of Europe's fiscal health.
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Europe aims for catastrophe-free tests

Europe may be hoping its long-awaited bank stress tests are anti-climactic, judging from the confident comments coming from officials. Jean-Claude Juncker, chairman of the euro zone finance ministers, doesn't expect any big catastrophes when results from the tests of 91 European banks are released on Friday.
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Oil falls below $76 as poor U.S. data fans fears

Oil prices fell below $76 a barrel on Monday, extending the previous session's decline, on concern about the U.S. economic outlook after data showed consumer sentiment fell to a near one-year low. News that the IMF and European Union has suspended a review of Hungary's funding program at the weekend has also ignited fresh eurozone jitters, as the country will not have access to remaining funds in its $25.1 billion loan package set up in 2008 until the review is concluded.
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Gold steadies as Hungary raises fresh euro zone concern

Gold steadied in Asia on Monday after early selling on low inflation signals gave way to fresh concerns over Hungary's ability to pay its debts prompted safe haven buying. But longer term, the firmness in bullion is not supported by technical analysis, which suggests gold is ready to ease further to lows last seen in late May of $1,175 per ounce.
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Euro dips, pulls away from 2-month high

The euro pulled back from two-month highs on Monday, as investors booked profits on its rally while lingering concerns about Europe's sovereign debt problems looked likely to keep a lid on future gains. High-yielding currencies like the Australian and New Zealand dollars were also under pressure as subdued U.S. data and falling equities .SPX led investors to shun risky trades.
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Commodity Trends: No ban on cardamom futures

With open interest in cardamom futures surging, rumors of a ban on the contract also started circulating until Forward Markets Commission clarified that there would be no ban on cardamom futures.
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LG aims to up 3D notebook shipments by 30 percent

South Korea's LG Electronics Inc said on Monday it aimed to raise shipments of 3D notebook computers by 30 percent in 2011, as it makes a huge bet on booming sales of 3D products led by televisions.
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Daily Forex Commentary 19/7/2010

The Aussie dollar held onto support around 0.8750 in early offshore trade rallying back above the 88 cent handle on the back of gains in EUR/USD.
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Australian Dollar Outlook 19/7/2010

The Australian Dollar once again retreated during Friday evening's trade as concerns about the global economic recovery emerged and equity markets headed down in Europe and the US.
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AIG to name ex-Pru CEO to head AIA unit: source

American International Group Inc is expected to name former Prudential Plc Chief Executive Mark Tucker as head of AIA, as it prepares the Asian life insurance unit for an initial public offering, a source familiar with the matter said on Sunday.

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