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New crisis looms if support measures withdrawn too late

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Governments must slash budget deficits decisively and central banks should not wait too long to raise borrowing costs as side effects from the medicines prescribed against the global recession may create the next crisis, the Bank for International Settlements said.

Gold hovers near record as economic fears persist

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Gold nosed at last week's record highs on Monday, buoyed by a dip in the dollar in Asian trading and worries about the global economy, although a lack of consumer demand could push prices lower in the near term.
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Stock index futures point to mixed open

U.S. stock index futures pointed to a mixed opening on Wall Street on Monday, with futures for the S&P 500 up 0.4 percent, Dow Jones futures gaining 0.3 percent and Nasdaq 100 futures up 0.3 percent at 4:50 a.m. ET.
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Asian stocks rise as U.S. bank bill fears ease

Most Asian stock markets rose on Monday, with Europe set to follow, as fears eased that Washington would draft a harsh bill for regulating the banking sector and after an unremarkable conclusion to a Group of 20 leaders' summit.
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Yuan ends lower vs dollar after G20 summit

The yuan CNY=CFXS closed weaker against the dollar on Monday and traded below the People's Bank of China's mid-point as banks and their clients were cautiously balancing dollar positions in anticipation of only limited yuan appreciation after the G20 summit.
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Euro hampered, but dollar gains sluggish

The dollar edged up on Monday after faltering in Asia on concerns about U.S. economic recovery, while the euro failed to make headway after a G20 summit failed to set markets alight. The market showed little reaction to a Group of 20 leaders' summit where they agreed to take different paths to cutting budget deficits, a reflection of the uneven and fragile economic recovery in many countries.
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Asia stocks rise as U.S. bank bill fears ease

Most Asian stock markets rose on Monday, with Europe set to follow, as fears eased that Washington would draft a harsh bill for regulating the banking sector and after an unremarkable conclusion to a Group of 20 leaders' summit.
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Gold eyes record peak

Gold ticked higher on Monday, trading less than $10 shy of last week's record high, underpinned by worries about the global economy after the G20 summit and U.S. comments that Iran has fissile material for two atomic bombs.
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Dollar on defensive, longs cut on recovery doubts

The dollar was on the defensive on Monday as investors sought to cut long positions built in favour of the greenback, while the euro held gains as the focus shifted to the sustainability of a U.S. recovery from the euro zone debt woes.
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Yuan weakens vs c.bank mid-point after G20 summit

The yuan CNY=CFXS weakened against the dollar on Monday and traded below the People's Bank of China's mid-point as banks and their clients were cautiously balancing dollar positions in anticipation of only limited yuan appreciation after the G20 summit.
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Economic worries drive up gold in Asia

Gold prices continued its northern journey in Asian trade Monday as uncertainty over global economic situation boosted its safe haven appeal. Gold for immediate delivery was seen trading at $ 1256.84 an ounce at 11.30 a.m Singapore time while U.S. gold futures for August delivery was at $1,258.00 an ounce.
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Commodity Trends:Fuel price hike to stoke inflation

India's inflation is set to zoom with the announcement by the Manmohan Singh government on the freeing up of petrol and diesel prices. The announcement has raised hopes of a further decontrol of the oil sector over the next few years, which could help balance public finances and let private companies challenge state-run firms' decades-old retailing monopoly.
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Oil near 8-week high as storm forces Mexico to slow exports

Oil touched its highest price in almost eight weeks on Monday, trading near $79 as tropical storm Alex forced Mexico to slow oil exports and some offshore U.S. producers to evacuate platforms and curb output. Japan's Nikkei average fell 0.45 percent on Monday, with the dollar little changed against a basket of currencies, despite an upbeat sign for the macroeconomic outlook on Friday from U.S. consumer sentiment, which rose in June to its highest since January 2008.
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Thick oil soils Mississippi shore as storm looms

Gluey gobs of thick oil from BP Plc's Gulf of Mexico spill washed ashore in Mississippi for the first time on Sunday as Russia called for a special levy on oil companies to finance a fund to help clean up environmental disasters like this one.
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G20 push for IMF voting power deal by November

Group of 20 leaders pledged on Sunday to push for agreement on greater voting power for emerging economic powers in the International Monetary Fund by the next summit in Seoul, South Korea, in early November.
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Stocks eye jobs amid economic worries

Stock investors will anxiously await the crucial June jobs data this week for clues on how the U.S. economy may weather recent storms that drove Wall Street's major indexes down for the year.
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Storm looms as thick oil soils Mississippi shore

Gluey gobs of thick oil from BP Plc's Gulf of Mexico spill washed ashore in Mississippi for the first time on Sunday as Russia called for a special levy on oil companies to finance a fund to help clean up environmental disasters like this one.
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G20 offers no big boost for fearful markets

Deficit pledges made by Group of 20 leaders on Sunday won't provide a big boost for financial markets, with uncertainty about the strength of global economic recovery still the larger concern for investors.
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G20 parts ways in search of lasting recovery

World leaders agreed on Sunday to take different paths for cutting budget deficits and making their banking systems safer, a reflection of the uneven and fragile economic recovery in many countries.
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G20 walks tightrope between growth, deficits

World leaders agreed on Sunday to take separate paths toward shared goals of lasting growth and safer banks as two years of global crisis give way to a fragile economic recovery.
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Oil spill teams keep wary eye on storm in Gulf

The Atlantic hurricane season's first named storm posed an uncertain threat to the Gulf of Mexico on Sunday, as a report said relief wells may halt the worst U.S. oil spill ahead of schedule.

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