Stocks track global shares higher, dollar gains weigh on FX

Aug 7 - Emerging market stocks rose on Wednesday, as global shares bounced back from a brutal sell-off at the start of the week, while a strengthening dollar weighed on local currencies.

The unravelling of the yen carry trade, coupled with a softer-than-expected U.S. jobs report last week, and fears of a U.S. recession sparked a global sell-off earlier this week with investors dumping riskier assets and moving to safe-havens. However, markets are still assessing the likelihood of a slowdown in the United States and what it means for the Federal Reserve outlook, while growing worries about China's economic strength continue to overshadow emerging market assets.

The Indian rupee fell to an all-time low against the dollar ahead of India's central bank policy decision on Thursday. Central European currencies are facing diverse outlooks for the next 12 months, according to a Reuters poll, with the zloty and crown expected to rise over the next year while the forint and leu are seen falling.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks hammered after this week's labor data shows investors treating 'bad news as bad news'Expectations for more Federal Reserve interest rate cuts are rising, but markets are selling off on the news, marking a shift in how investors are digesting ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

BlackRock bullish on U.K. stocks after elections, Japan stocks are top playBlackRock Investment Institute said in a mid-year outlook report that the prospect of higher-for-longer interest rates made inflation-linked bonds attractive
Source: globeandmail - 🏆 5. / 92 Read more »

Stock market news today: US stocks set for rebound as investors wait for key inflation dataInvestors are looking to the Fed-favored inflation data to calibrate the timing and depth of rate cuts.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market news today: US stocks set for rebound after key Fed-watched inflation dataInvestors are looking to the Fed-favored inflation data to calibrate the timing and depth of rate cuts.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market news today: US stocks steady after steep Big Tech-led sell-offEarnings misses have put the spotlight on the health of the economy after a Big Tech-led sell-off.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market news today: Stocks whipsaw after steep Big-Tech sell-offEarnings misses have put the spotlight on the health of the economy after a Big Tech-led sell-off.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »