USD/RON Price & Performance (USDRON)

Emerging market stocks fell by 0.4% amid fears of a U.S. economic recession. South Korean shares dropped over 1%, while Wall Street saw significant losses, with the S&P 500 nearing a 10% correction. Meanwhile, emerging market currencies gained slightly against the dollar, reflecting mixed investor sentiment.1

Emerging market stocks faced challenges, with South Africa's equities downgraded to 'neutral' by JPMorgan. The rand appreciated 0.4%, rebounding after recent losses. China's yuan also strengthened, gaining 0.4% offshore. Investors are closely watching Ghana's upcoming budget announcement amid broader economic concerns.1

Investors anticipate U.S. consumer price data, expected to influence Federal Reserve policy. Markets have priced in three rate cuts this year. Emerging Europe saw mixed stock performance, with Saudi Arabia and Dubai indices falling over 1%. Meanwhile, Hungary reported inflation at 5.6%, exceeding forecasts.1