Spreadex Market Update
Chinese stocks extended monthly gains
Early figures this morning showed German retail sales unexpectedly declined in June, casting doubts about Europe’s economic recovery weighed on consumer spending. With data in focus and the FOMC statement later today, investors will likely take to the side-lines ahead of the comments from the Federal Reserve.
Gold advanced overnight as investors awaited the conclusion of US Federal Reserve policy makers’ meeting today for sings whether the Fed may start reducing its unprecedented stimulus program. Gold has fallen nearly 20 percent this year amid speculation the Fed may start to taper the program as the US economy improves.
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