Adding to concerns of a tight labor market and runaway inflation, data on Tuesday showed an acceleration of unit labor costs in the second quarter, which suggested strong wage pressures will help keep inflation elevated.
The dollar is poised for a weekly gain against major currencies amid optimism surrounding potential U.S.-China trade talks, fueled by a recent U.S.-UK trade agreement.
Oil prices surged nearly 2% on Friday, marking their first weekly gain since mid-April, fueled by optimism surrounding a U.S.-UK trade agreement and upcoming U.S.-China
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