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Major markets are consolidating as traders keep their powder dry ahead of key risk events later in the week. Forex pairs and indices have become rangebound. However, there is movement in commodities as a series of rebounds are starting to take hold.
A rebuild of fragile sentiment is underway with a tentative risk recovery. Indices are higher and there is a pullback in USD strength.
With bond yields rising ever higher the outlook for precious metals remains negative.
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