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Markets Suffer From Uncertainty

Telegraph reports showed earlier today that Britain will tell Brussels it is prepared to stay in the customs union beyond 2021 as ministers remain deadlocked over a future deal with the EU.

French energy giant Total joined other European companies in signalling they could exit Iran, casting doubt on whether European leaders meeting to try to salvage the Iran nuclear deal can safeguard trade with Tehran as Reuters mentioned.

WSJ wrote that GOP-led Senate committee backed US intelligence agencies’ finding that Moscow tried to boost Trump’s campaign by hacking and spreading misinformation, a bipartisan conclusion that breaks with a House panel’s position and the president’s rejection that Russia wanted him to win.

Australia’s jobless rate rose to a nine-month high of 5.6% in April as more people looked for work, but the number of employed beat expectations as more full-time jobs were added (+32.7k).

Investors will keep a close eye on the negotiations to form a new Italian government today. Any controversial proposals to amend EU/EMU rules might weigh on the euro. In the US, the jobless claims and the Philly Fed business outlook will be released. US data recently confirmed a good momentum at the start of Q2. However, will upcoming data be strong enough to support a further rise in the dollar after recent gains?

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