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Early Monday morning in Asia, the Saudi Press Agency (SPA) came out with the news that the US and Saudi Arabian leaders talked to each other over the phone while discussing the latest work of the Group of 20 (G20) nations.

Key quotes

During the call, they discussed the work of the Group of Twenty countries chaired by the Kingdom this year, the efforts made within its meetings to protect lives and livelihoods to mitigate the effects of the coronavirus pandemic, and a review of the most prominent policies that have been agreed upon to reduce the negative aspects of the pandemic on peoples and the global economy.

King Salman also expressed the Kingdom’s appreciation for the efforts made by the United States to establish peace in the region, affirming Riyadh’s keenness to reach a permanent and just solution to the Palestinian issue.

Market implications

The news fails to stop the S&P 500 Futures’ latest declines. The risk barometer drops 0.60% to 3,395 by the press time. While news feeds are mostly dead, weekend headlines concerning Brexit and the US-China tussle could be traced for the latest weakness in the market’s trading sentiment. It’s worth mentioning that the WTI drops to the two-month low while attacking $39.00 as we write.

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