NEWS

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Australia saw stronger than expected employment with part time jobs growth leading the way in March and Unemployment down to 5.6%. Positives included the record high participation rate at 66.3% and underemployment lowest in 7 years at 7.9%.

South Korea's Monetary Policy Board of the Bank of Korea decided today to leave the Base Rate unchanged at 0.50% for the intermeeting period as expected. GDP growth this year is projected to be above the February forecast of 3.0%.

Digital banking platform Coinbase went public on Wednesday trading under the symbol $COIN. The Nasdaq’s first major direct listing rose as high as $429.54 briefly giving it a market value over $100 billion. Growing popularity of cryptocurrencies has seen attention shift towards the exchanges they trade on.

WTI Oil Futures rallied hard after EIA reported a draw in crude of -5890 kbbl (including a 346kbbl build at Cushing).  Gasoline stocks rose  +309kbbl and Utilization recovered another 1% to 85.0%. Production rose 100k to 11,000 kbpd.

Goldman Sachs, America's largest investment bank reported record first-quarter net profits and revenues from the firm’s investment banking and trading businesses. $GS results represented growth of 498% from a year earlier. Investment banking net revenues a record $3.77 billion

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