US Market Update

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US Market Update – US dollar the weakest currency of the day. EURUSD has maintained altitude this morning, gaining on the back of solid German ZEW figures, a softer U.S. housing starts outcome, while it eased back some in the aftermath of the strong industrial production data. USoil is also in focus. The agreement between Saudi Arabia and Russia to extend production cuts through March of 2018 was the catalyst for yesterday’s sharp rally, and most now expect other participants to fall in line with the extended cuts at the May 25 OPEC meeting.