Global Shares Rebound Stalls Amid Interest Rate Speculations
Global shares paused their recent rally as the dollar languished at 2024 lows. Investors await the Federal Reserve’s Friday announcement on future interest rate cuts. Oil prices dipped on easing Middle East tensions and swelling U.S. inventories, while gold hovered near record highs.
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Global shares took a breather on Wednesday after a prolonged rally towards record levels, with the dollar struggling at 2024 lows. Investors are now keenly awaiting clearer guidance from the Federal Reserve on Friday regarding future interest rate cuts.
Oil prices saw a decline due to easing Middle East tensions and rising U.S. inventories, while the weaker dollar helped maintain gold prices near their record highs set on Tuesday. The MSCI All Country index, representing global stocks, dipped slightly by 0.04% to 824.36 points.
Despite some volatility earlier this year due to U.S. jobs data sparking recession fears, stocks have rebounded on expectations of interest rate cuts starting in September. Investors are now pricing in significant rate cuts without an imminent recession.
(With inputs from agencies.)
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