Financial markets recovered in European session as China and other emerging countries committed more money to the IMF’s firewall. Yet, gains would likely be limited amid investors’ cautiousness ahead of the Spanish bond auction. The market is also awaiting the June FOMC meeting as it’s a 50-50 bet on whether the Fed would add additional easing measures to stimulate the economy. In the commodity sector, the front-month contracts for WTI and Brent crude oil remained under pressures after yesterday’s reversals.
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Emergining Markets Committed Funds to the IMF
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