Markets Weigh Monetary Policy Outlook

Anxiety about inflation and a cautious monetary policy outlook dominated market sentiment across regions. The more-than-expected decline in inflation in the U.K. boosted sentiment. Markets in the meanwhile wait for the PCE-based inflation readings from the U.S. due on Friday.

Wall Street Futures reflect mild losses. Equities in the London stock market gained with the inflation relief. However other European benchmarks are trading in the red zone. Asian stocks finished trading on a mostly positive note.

Dollar Index edged up, even as Fed rate cut hopes lingered. Bond yields mostly declined. Crude oil prices rose amidst concerns about the situation in the Red Sea. Gold prices edged higher. Cryptocurrencies are trading mixed.

Here is a glimpse of the major world markets at this hour.

Stock Indexes:

DJIA (US30) at 37,520.20, down 0.10%
S&P 500 (US500) at 4,759.80, down 0.18%
Germany’s DAX at 16,710.85, down 0.20%
U.K.’s FTSE 100 at 7,702.03, up 0.84%
France’s CAC 40 at 7,560.10, down 0.19%
Euro Stoxx 50 at 4,519.55, down 0.35%
Japan’s Nikkei 225 at 33,675.94, up 1.47%
Australia’s S&P ASX 200 at 7,537.90, up 0.65%
China’s Shanghai Composite at 2,902.11, down 1.03%
Hong Kong’s Hang Seng at 16,617.50, up 0.58%

Currencies:

EUR/USD at 1.0961, down 0.17%
GBP/USD at 1.2665, down 0.51%
USD/JPY at 143.51, down 0.22%
AUD/USD at 0.6772, up 0.16%
USD/CAD at 1.3332, up 0.01%
Dollar Index at 102.27, up 0.10%

Ten-Year Govt Bond Yields:

U.S. at 3.898%, down 1.53%
Germany at 1.9920%, down 1.29%
France at 2.502%, down 1.03%
U.K. at 3.5785%, down 2.09%
Japan at 0.562%, up 1.35%

Commodities:

Brent Oil Futures (Feb) at $79.84, up 0.77%.
Crude Oil WTI Futures (Feb) at $74.62, up 0.92%.
Gold Futures (Feb) at $2,053.50, up 0.07%.

Cryptocurrencies:

Bitcoin at $42,786.95, down 0.67%
Ethereum at $2,208.27, down 1.76%
BNB at $257.21, up 5.03%
XRP at $0.6099, down 0.28%
Solana (SOL) at $76.33, up 1.32%.

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