CANBERA (dpa-AFX) - The Fed's unexpected guidance regarding slower-than-expected rate cuts in 2025 eclipsed the relief at the widely expected quarter-point rate cut in the last meeting of 2024. Markets also reconciled to the status quo on rates opted by Bank of Japan as well as Bank of England.
Wall Street Futures are trading in the green zone after the massive stock market rout on Wednesday. European benchmarks are trading deep in the red. Asian benchmarks also closed on a negative note.
The Dollar Index edged down after a massive spike following the Fed's guidance. Bond yields mostly hardened.
Renewed demand concerns following Fed's hawkish guidance dragged down crude oil prices. Gold prices are trading slightly above the 1-month low touched on Wednesday in the aftermath of the FOMC guidance. Cryptocurrencies mostly declined.
Here is a snapshot of the major world markets at this hour.
Stock Indexes:
DJIA (US30) at 42,486.10, up 0.38% S&P 500 (US500) at 5,896.60, up 0.42% Germany's DAX at 20,058.05, down 1.00% U.K.'s FTSE 100 at 8,084.35, down 1.40% France's CAC 40 at 7,280.25, down 1.41% Euro Stoxx 50 at 4,882.95, down 1.50% Japan's Nikkei 225 at 38,808.50, down 0.80% Australia's S&P ASX 200 at 8,168.20, down 1.70% China's Shanghai Composite at 3,370.03, down 0.36% Hong Kong's Hang Seng at 19,752.51, down 0.56%
Currencies:
EUR/USD at 1.0402, up 0.48% GBP/USD at 1.2632, up 0.47% USD/JPY at 156.76, up 1.27% AUD/USD at 0.6249, up 0.51% USD/CAD at 1.4384, down 0.44% Dollar Index at 107.94, down 0.08%
Ten-Year Govt Bond Yields:
U.S. at 4.537%, up 0.80% Germany at 2.2915%, up 2.30% France at 3.103%, up 1.77% U.K. at 4.6515%, up 1.98% Japan at 1.058%, down 2.04%
Commodities:
Brent Oil Futures (Feb) at $73.22, down 0.23%. Crude Oil WTI Futures (Jan) at $69.86, down 1.02%. Gold Futures (Feb) at $2,632.46, down 0.79%.
Cryptocurrencies:
Bitcoin at $102,207.55, down 2.45% Ethereum at $3,697.92, down 4.67% XRP (XRP) at $2.41, down 6.14% BNB at $702.99, down 2.19% Solana at $209.93, down 3.58%
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