European stocks retreat, data eyed

By FXstreet.com | July 30, 2014 AAA

FXStreet (Córdoba) - European stocks retreated Wednesday as geopolitical concerns weighed while investors await a series of US economic events.



The Stoxx Europe 600 fell 0.18% to 341.67. The index rose 0.3% the previous day supported by earnings results. As for country-specific indexes Germany’s DAX 30 dipped 0.08% while the France’s CAC 40 lost 0.41%. The UK FTSE 100 dropped 0.13%.



During the European session, German flash July CPI will be released. Focus turns now to US ADP, 2Q GDP flash and the FOMC decision. The Federal Reserve is set to reduce its monthly bond purchases for the sixth time to $25 billion from $35 billion.



In the FX space, the USD somewhat higher across the board, benefitting from geopolitical tensions as the US joined Europe in imposing new sanctions to Russia.



As for commodities, gold was flat at $1,300 an ounce, while crude oil rose 0.46% to $101.44 a barrel.



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