Global Markets in Turmoil as Leadership Changes Shake Japan and France
Global financial markets experienced fluctuations, with stocks rising and the dollar weakening amid expectations of an impending U.S. interest rate cut. Political uncertainty in Japan and France added to investor anxiety. Gold prices neared record highs, while oil prices climbed following adjusted OPEC+ output expectations.
Global markets experienced turbulence as stocks rose and the dollar wobbled due to expectations of an imminent U.S. interest rate cut, driven by dismal U.S. labor data. In Japan, the yen dropped after Prime Minister Shigeru Ishiba's resignation, sparking investor concerns.
Political uncertainties in key economies Japan and France weigh heavily on investor sentiment, with potential leadership changes impacting fiscal and monetary policies. In financial markets, European and S&P 500 futures saw gains following recent volatile sessions, reflecting guarded optimism amidst geopolitical shifts.
Attention pivots to the U.S. inflation report this week to assess the impact on rate cut probabilities. Meanwhile, gold prices flirt with historic highs, and oil prices climb after OPEC+ agreed to moderate output increases, reflecting a cautious response to anticipated global demand shifts.
(With inputs from agencies.)
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