CANBERA (dpa-AFX) - World market sentiment remains cautious ahead of the release of consumer price inflation data from the U.S. on Wednesday. The turmoil in the Middle East as well hopes of further monetary easing by China also weighed on market sentiment.
Indications from the CME FedWatch tool show markets renewing Fed rate cut expectations. The likelihood of a quarter-point Fed rate cut in December has further increased to 89.5 percent whereas the expected probability of a status quo has decreased to 10.5 percent.
Wall Street Futures have edged up. European benchmarks are trading mostly in the red zone amidst a generally cautious mood in Europe. Asian benchmarks closed on a mixed note.
The Dollar Index rallied amidst perception that the Federal Reserve would be slower than most trading partners in cutting interest rates. Bond yields mostly hardened. Waning geopolitical tensions dragged down crude oil prices while China's easing stance provided crucial support. Gold rallied on safe haven demand and Fed rate cut expectations. Cryptocurrencies extended losses.
Here is a snapshot of the major world markets at this hour.
Stock Indexes:
DJIA (US30) at 44,412.30, up 0.02% S&P 500 (US500) at 6,058.70, up 0.10% Germany's DAX at 20,381.65, up 0.14% U.K.'s FTSE 100 at 8,305.81, down 0.55% France's CAC 40 at 7,438.57, down 0.56% Euro Stoxx 50 at 4,972.55, down 0.26% Japan's Nikkei 225 at 39,368.50, up 0.55% Australia's S&P ASX 200 at 8,393.00, down 0.36% China's Shanghai Composite at 3,422.66, up 0.59% Hong Kong's Hang Seng at 20,311.28, down 0.50%
Currencies:
EUR/USD at 1.0528, down 0.22% GBP/USD at 1.2759, up 0.08% USD/JPY at 151.63, up 0.29% AUD/USD at 0.6395, down 0.65% USD/CAD at 1.4167, down 0.03% Dollar Index at 106.37, up 0.22%
Ten-Year Govt Bond Yields:
U.S. at 4.224%, up 0.57% Germany at 2.1245%, up 0.26% France at 2.857%, down 0.49% U.K. at 4.3600%, up 2.06% Japan at 1.063%, up 0.09%
Commodities:
Brent Oil Futures (Feb) at $71.64, down 0.69%. Crude Oil WTI Futures (Jan) at $67.83, down 0.79%. Gold Futures (Feb) at $2,697.31, up 0.43%.
Cryptocurrencies:
Bitcoin at $97,720.56, down 1.03% Ethereum at $3,762.79, down 3.07% XRP (XRP) at $2.24, down 6.81% Solana at $217.54, down 4.47% BNB at $702.31, down 2.59%
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