World stocks slipped, halting a four-day recovery rally as anxiety surrounding global trade conditions and rising U.S. interest rates dampened risk appetite.
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U.S. stocks eyed a third day of gains, leaving behind a brutal month of losses, as improving risk sentiment globally was further boosted by a string of positive earnings reports.
Short positions on most Asian currencies rose over the last two weeks, a Reuters poll showed, as global trade tensions and strength in the U.S. economy hinted at further outflows from emerging markets.
Japan’s central bank chief ruled out a near-term interest rate hike amid risks from global trade disputes, but also raised a firm warning about vulnerabilities in the financial system from years of loose monetary policy.
The United States’ trade wars have allowed Canada’s agriculture industry to pump up sales of soybeans and wheat to China, and pork to Mexico.
The rupee bounced back from the day's low level to settle almost flat at 73.57 against the US currency Tuesday helped by easing crude oil prices and increased dollar selling by banks and exporters.
Disputes over U.S. tariffs and retaliatory moves by other states have sparked 12 requests for adjudication at the World Trade Organization, signalling an escalation in global trade tensions.
The rupee recovered early losses and finally settled 29 paise higher at 73.32 against the US dollar Friday, amid a weakening greenback.
U.S. stock futures fell on Thursday, as some industrials reported disappointing results, while the Federal Reserve’s minutes showed officials broadly agreed on raising interest rates further, fanning concerns that contributed to last week’s brutal selloff.