World stocks end turbulent month higher as US inflation data looms

LONDON : Global stocks rose on Friday and were set for a fourth straight month of gains despite a bout of heavy selling in early August, boosted by U.S. growth data that helped the dollar snap a weeks-long losing streak and kept bond markets on edge.

The stunning recovery from an early August sell-off reminiscent of October 1987's"Black Monday" came as traders priced a so-called Goldilocks scenario in which the U.S. economy keeps growing, but not so much to prevent interest rate cuts. An index of U.S. personal consumption expenditures due later on Friday, meanwhile, is expected to show that the Fed's preferred inflation index rose 2.6 per cent in July year-on-year, slightly more than the prior month but unlikely to raise alarm.

Government bond markets soared in early August after a weaker-than-expected U.S. jobs report and a surprise Bank of Japan rate hike wreaked chaos in currency carry trades and drove heavy selling of risky assets. Against the yen, the dollar stood at 144.79, on track to lose more than 3 per cent for the month, as pressure eased on the Japanese currency on the prospect of narrowing interest rate differentials.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Riding the global stock market rollercoasterpGlobal financial markets were in a spin recently when the Japan's main stock index suffered its worst day in 37 years and stocks on Wall Street faced their sharpest decline in nearly two years./p pEddy Loh, chief investment officer of Maybank Group Wealth Management, tells Andrea Heng what this means for economies and for investors.
La source: ChannelNewsAsia - 🏆 6. / 66 Lire la suite »

Money Talks Podcast: Riding the global stock market rollercoasterIf your stocks have been doing badly in the past week, should you sell to avoid further losses? This week’s Money Talks podcast talks about what the latest market rout means.
La source: ChannelNewsAsia - 🏆 6. / 66 Lire la suite »