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Global Stocks Recover, Dollar Extends Gains in Cautious Trading Flows

“Brent crude contracts for September delivery, the global benchmark, were seen $1.04 higher from Wednesday’s New York close and changing hands at $74.44 in early European trading” writes Martin Baccardax for thestreet.com. The weaker yuan ignited a bounceback in China stocks, too, with the bluechip CSI300 leaping 2.45% while the Shanghai Composite rose 2.35%.The dollar index, which tracks the greenback against a basket of six global currencies, gained 0.6% in overnight trading to change hands at 94.71, a ten-day high, as investors retreated from a softer euro and a weaker Chinese yuan amid defensive trading flows.Global stocks regained some poise in overnight trading, even as the U.S. dollar continued to find favor among investors still rattled by trade war rhetoric and President Donald Trump’s haranguing of NATO allies in Brussels, setting up the potential for a solid opening on Wall Street.
 
Source: thestreet.com



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