CANBERA (dpa-AFX) - World market trends remain mixed ahead of the release of the CPI data from the U.S. on Wednesday. Anxiety about the Fed's monetary policy and the potential impact of the new administration's policies on inflation and price pressures in the U.S. added to the anxiety.
Wall Street Futures edged lower. European benchmarks are trading deep in the red. Asian benchmarks also closed on a negative note.
The Dollar Index continued to surge. Bond yields are moving mixed. Crude oil prices recorded mild gains amidst the OPEC monthly report revising down the global oil demand growth forecast for 2024. Gold extended losses amidst the dollar's strength. Cryptocurrencies rallied while Bitcoin touched a fresh peak, stopping short of breaching $90k.
According to the CME Group's FedWatch Tool, the likelihood of a quarter-point Fed rate cut in December is at 68.5 percent whereas 31.5 percent expect a pause by the Fed. Here is a snapshot of the major world markets at this hour.
Stock Indexes:
DJIA (US30) at 44,280.70 down 0.03% S&P 500 (US500) at 5,995.30, down 0.10% Germany's DAX at 19,294.75, down 0.80% U.K.'s FTSE 100 at 8,049.39, down 0.93% France's CAC 40 at 7,338.69, down 1.19% Euro Stoxx 50 at 4,811.25, down 0.88% Japan's Nikkei 225 at 39,350.50, down 0.48% Australia's S&P ASX 200 at 8,255.60, down 0.13% China's Shanghai Composite at 3,421.97, down 1.39% Hong Kong's Hang Seng at 19,846.88, down 2.84%
Currencies:
EUR/USD at 1.0624, down 0.28% GBP/USD at 1.2825, down 0.34% USD/JPY at 153.96, up 0.17% AUD/USD at 0.6544, down 0.46% USD/CAD at 1.3958, up 0.24% Dollar Index at 105.80, up 0.24%
Ten-Year Govt Bond Yields:
U.S. at 4.360%, up 0.21% Germany at 2.3005%, down 1.05% France at 3.060%, down 0.62% U.K. at 4.4880%, up 1.38% Japan at 1.006%, up 0.10%
Commodities:
Brent Oil Futures (Jan) at $72.27, up 0.61%. Crude Oil WTI Futures (Dec) at $68.47, up 0.63%. Gold Futures (Dec) at $2,602.35, down 0.59%.
Cryptocurrencies:
Bitcoin at $87,027.57, up 5.98% Ethereum at $3,282.89, up 2.84% Solana at $213.91, down 0.82% BNB at $627.12, up 0.25% Dogecoin (DOGE) at $0.388, up 34.61%.
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