CANBERA (dpa-AFX) - A potential de-escalation in geopolitical tensions in the Middle East dominated sentiment across asset classes and regions. With the threat of a wider war apparently easing, market's focus has shifted to the U.S. elections, quarterly results and the looming Fed rate decision.
According to the CME Group's FedWatch Tool, the likelihood of a quarter-point cut in the Fed review on November 7 has increased to 98.9 percent from 95.1 percent on Friday.
Wall Street Futures are in positive territory. European benchmarks are trading mostly lower. Asian benchmarks however closed on a strong positive note as the fractured political verdict in Japan seemed to rule out a hawkish monetary policy stance by the Bank of Japan.
The Dollar Index declined. Bond yields are moving in a mixed fashion. Crude oil prices tumbled as the geopolitical risk premium that had built in came off. Gold prices declined amidst waning safe haven demand. Cryptocurrencies rallied.
Here is a snapshot of the major world markets at this hour.
Stock Indexes:
DJIA (US30) at 42,246.50 up 0.31% S&P 500 (US500) at 5,834.90, up 0.46% Germany's DAX at 19,421.65, down 0.13% U.K.'s FTSE 100 at 8,209.14, down 0.48% France's CAC 40 at 7,502.68, up 0.07% Euro Stoxx 50 at 4,937.95, down 0.10% Japan's Nikkei 225 at 38,650.50, up 2.01% Australia's S&P ASX 200 at 8,221.50, up 0.12% China's Shanghai Composite at 3,322.20, up 0.68% Hong Kong's Hang Seng at 20,599.36, up 0.04%
Currencies:
EUR/USD at 1.0823, up 0.28% GBP/USD at 1.2990, up 0.24% USD/JPY at 152.59, up 0.19% AUD/USD at 0.6606, up 0.05% USD/CAD at 1.3895, up 0.03% Dollar Index at 104.14, down 0.12%
Ten-Year Govt Bond Yields:
U.S. at 4.253%, up 0.50% Germany at 2.2710%, down 0.83% France at 3.009%, down 1.02% U.K. at 4.2630%, up 0.66% Japan at 0.969%, down 0.10%
Commodities:
Brent Oil Futures (Jan) at $71.22, down 5.83%. Crude Oil WTI Futures (Dec) at $67.36, down 6.16%. Gold Futures (Dec) at $2,746.10, down 0.31%.
Cryptocurrencies:
Bitcoin at $68,687.90, up 2.33% Ethereum at $2,520.87, up 2.03% BNB at $594.06, up 1.89% Solana at $177.11, up 1.38% XRP at $0.5196, up 1.48%.
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