CANBERA (dpa-AFX) - Sentiment in global financial markets remains tethered to growing expectations of further easing by the Federal Reserve. A rebound in the cryptocurrency market also soothed nerves.
Markets also digested latest ADP payrolls data which showed private businesses in the U.S. cutting 32 thousand jobs in November. The biggest decline in payrolls since March 2023 contrasted with an upwardly revised gain of 47 thousand in October and forecasts of a rise of 10 thousand.
The CME FedWatch tool that tracks the expectations of interest rate traders currently shows the likelihood of a quarter percentage rate cut by the Fed on December 10 at 89 percent versus 88 percent a day ago.
Wall Street Futures are trading in mildly positive territory. Benchmarks in Europe are trading on a mostly positive note. Asian markets finished trading on a mixed note.
The six-currency Dollar Index retreated as hopes of a dovish monetary policy stance dominated market sentiment. Ten-year bond yields eased across regions but hardened in Japan amidst rate hike discussions by Bank of Japan. Ten-year Japanese bond yields are currently hovering near a fresh 52-week high recorded on Wednesday.
Crude oil prices rallied amidst disappointment surrounding Ukraine peace efforts. Fed rate cut hopes remained strong, supporting a rebound in gold prices. Cryptocurrencies rebounded emphatically.
Here is a snapshot of the major world markets at this hour.
Stock Indexes:
DJIA (US30) at 47,605.50, up 0.28% S&P 500 (US500) at 6,849.10, up 0.29% Germany's DAX at 23,773.10, up 0.27% U.K.'s FTSE 100 at 9,690.78, down 0.11% France's CAC 40 at 8,083.84, up 0.11% Euro Stoxx 50 at 5,710.55, up 0.43% Japan's Nikkei 225 at 49,864.68, up 1.14% Australia's S&P ASX 200 at 8,595.20, up 0.18% China's Shanghai Composite at 3,878.00, down 0.51% Hong Kong's Hang Seng at 25,760.73, down 1.28%
Currencies:
EUR/USD at 1.1668, up 0.37% GBP/USD at 1.3310, up 0.73% USD/JPY at 155.36, down 0.33% AUD/USD at 0.6592, up 0.52% USD/CAD at 1.3944, down 0.21% Dollar Index at 98.96, down 0.40%
Ten-Year Govt Bond Yields:
U.S. at 4.058%, down 0.73% Germany at 2.7405%, down 0.42% France at 3.479%, down 0.43% U.K. at 4.4440%, down 0.58% Japan at 1.896%, up 1.44%
Commodities:
Brent Oil Futures (Feb) at $63.14, up 1.10%. Crude Oil WTI Futures (Jan) at $59.41, up 1.31%. Gold Futures (Feb) at $4,243.60, up 0.54%.
Cryptocurrencies:
Bitcoin at $92,950.71, up 6.46% Ethereum at $3,081.79, up 9.05% XRP at $2.17, up 7.05% BNB at $901.51, up 7.12% Solana at $141.92, up 10.25%
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