CANBERA (dpa-AFX) - Fed Chair Jerome Powell's remarks on Thursday that the economy was not sending any signals that needed the Fed to be in a hurry to lower rates impacted market sentiment across asset classes and regions. Speaking at an event at Dallas, he acknowledged the strength of the economy and said it gave the Fed the ability to approach decisions carefully.
Rate cut expectations moderated post Fed Chair's rate cut guidance. The CME FedWatch tool shows the likelihood of a quarter-point Fed rate cut in December decreasing to 59 percent and the probability of a pause increasing to 41 percent.
Wall Street Futures are trading lower. European benchmarks are trading mixed. Asian benchmarks too closed on a mixed note.
The Dollar Index declined mildly. Bond yields are moving mixed. Concerns over Chinese demand weighed on crude oil prices. Gold is trading close to the flatline. Cryptocurrencies mostly declined.
Here is a snapshot of the major world markets at this hour.
Stock Indexes:
DJIA (US30) at 43,584.80 down 0.38% S&P 500 (US500) at 5,919.80, down 0.49% Germany's DAX at 19,257.55, up 0.08% U.K.'s FTSE 100 at 8,080.25, up 0.11% France's CAC 40 at 7,307.82, down 0.05% Euro Stoxx 50 at 4,820.25, down 0.27% Japan's Nikkei 225 at 38,637.50, up 0.35% Australia's S&P ASX 200 at 8,285.20, up 0.74% China's Shanghai Composite at 3,330.73, down 1.45% Hong Kong's Hang Seng at 19,426.34, down 0.05%
Currencies:
EUR/USD at 1.0579, up 0.46% GBP/USD at 1.2686, up 0.16% USD/JPY at 155.35, down 0.57% AUD/USD at 0.6477, up 0.38% USD/CAD at 1.4036, down 0.15% Dollar Index at 106.48, down 0.18% Ten-Year Govt Bond Yields:
U.S. at 4.438%, up 0.36% Germany at 2.3460%, up 0.13% France at 3.078%, down 0.23% U.K. at 4.5295%, up 1.01% Japan at 1.062%, down 1.21%
Commodities:
Brent Oil Futures (Jan) at $71.78, down 1.07%. Crude Oil WTI Futures (Dec) at $67.97, down 1.06%. Gold Futures (Dec) at $2,573.60, up 0.03%.
Cryptocurrencies:
Bitcoin at $89,281.92, down 1.69% Ethereum at $3,091.58, down 2.41% Solana at $212.54, down 1.32% BNB at $621.95, down 0.93% Dogecoin (DOGE) at $0.3694, down 5.93%.
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