CANBERA (dpa-AFX) - Global market sentiment remains tethered to the surge in crude oil prices amidst continuing attacks on energy infrastructure in the Middle East and the disruption to oil transport through the Strait of Hormuz.
Wall Street Futures are currently trading well below the flatline as markets digested the unexpected spike in producer price inflation in the U.S. Benchmarks in Europe are trading on a negative note. Earlier, Asian markets had finished trading on a positive note.
The dollar index rebounded on Wednesday as the surge in crude oil prices amplified inflation concerns, triggering fears of a hawkish monetary policy guidance from the Federal Reserve. Bond yields hardened across regions and tenors as the FOMC decision weighed on sentiment.
Both the crude oil benchmarks have extended gains on Wednesday as the Middle East war continues unabated. Brent has added more than 51 percent in the past month whereas WTI crude has surged almost 47 percent during the same period.
Amidst anxiety ahead of the Fed's interest rate decision, gold prices have dropped to a one-month low. Cryptocurrencies have declined.
Here is a snapshot of the major world markets at this hour.
Stock Indexes:
DJIA (US30) at 46,774.30, down 0.47% S&P 500 (US500) at 6,691.90, down 0.36% Germany's DAX at 23,582.72, down 0.58% U.K.'s FTSE 100 at 10,332.82, down 0.68% France's CAC 40 at 7,968.24, down 0.08% Euro Stoxx 50 at 5,734.05, down 0.61% Japan's Nikkei 225 at 55,239.40, up 2.87% Australia's S&P ASX 200 at 8,640.60, up 0.31% China's Shanghai Composite at 4,062.98, up 0.32% Hong Kong's Hang Seng at 26,025.42, up 0.61% South Korea's KOSPI at 5,925.03, up 5.04%
Currencies:
EUR/USD at 1.1506, down 0.29% GBP/USD at 1.3312, down 0.33% USD/JPY at 159.50, up 0.30% AUD/USD at 0.7054, down 0.72% USD/CAD at 1.3712, up 0.15% Dollar Index at 99.83, up 0.26%
Ten-Year Govt Bond Yields:
U.S. at 4.223%, up 0.52% Germany at 2.9267%, up 0.82% France at 3.595%, up 1.01% U.K. at 4.6790%, down 0.30% Japan at 2.222%, down 1.81%
Commodities:
Brent Oil Futures (May) at $107.43, up 3.9%. Crude Oil WTI Futures (May) at $96.63, up 1.15%. Gold Futures (Apr) at $4,888.81, down 2.38%. Silver Futures (May) at $78.01, down 2.40%.
Cryptocurrencies:
Bitcoin at $72,407.66, down 1.81% Ethereum at $2,242.28, down 3.24% XRP at $1.46, down 2.76% BNB at $657.54, down 1.21% Solana at $90.57, down 3.05%
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