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WORLD HEADLINES – Risk-off sentiment dominated after U.S. jobless claims pointed to a further tightening in labor market conditions, cementing expectations the Federal Reserve will raise benchmark U.S. rates next week and twice again later in the year.

STOCKS – Asian shares retreated from a 2-1/2 month high on Friday as investors turned away from emerging markets due to uncertainties over global trade relations, and expectations of more U.S. rate hikes and a wind down of a massive monetary stimulus in Europe.

BONDS – Treasuries held to yesterday’s gains.

COMMODITIES – Oil prices reversed earlier gains and fell as surging U.S. output as well as signs of weakening demand in China weighed on markets, even though supply woes in Venezuela and OPEC’s ongoing production cuts offered crude some support.

CURRENCIES – The U.S. dollar rebounded 0.2 percent from near three-week lows against a basket of currencies, helped by the strong jobless numbers.

ECONOMIC DATA – G7 Meetings day one (all day), CAD  Unemployment Rate due at 8:30 ET.

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COMMODITY FUTURES, OPTIONS, AND FOREX TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
 
 
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