Markets Rise Despite Monetary Policy Fears

Market sentiment remained broadly positive in spite of lingering worries about monetary policy outlook in the backdrop of hawkish commentaries from central bank officials. Deflation hints from China and mixed corporate earnings updates also swayed market sentiment. Markets in the meanwhile are waiting for speeches by Fed Chair as well as ECB President later in the day.

Wall Street Futures are trading with mild gains. European benchmarks are trading higher. Asian stocks mostly gained.

Dollar edged up. Bond yields mostly hardened. Crude oil prices gained modestly. Gold futures traded lower amidst hawkish rhetoric from Fed officials. Cryptocurrencies surged ahead amidst renewed hopes of a BTC spot ETF approval.

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

Stock Indexes:

DJIA (US30) at 34,194.00, up 0.24%
S&P 500 (US500) at 4,391.70, up 0.20%
Germany’s DAX at 15,301.65, up 0.47%
U.K.’s FTSE 100 at 7,418.87, up 0.23%
France’s CAC 40 at 7,083.32, up 0.70%
Euro Stoxx 50 at 4,211.05, up 0.78%
Japan’s Nikkei 225 at 32,646.46, up 1.59%
Australia’s S&P ASX 200 at 7,014.90, up 0.28%
China’s Shanghai Composite at 3,053.28, up 0.03%
Hong Kong’s Hang Seng at 17,517.00, down 0.33%

Currencies:

EUR/USD at 1.0687, down 0.19%
GBP/USD at 1.2273, down 0.07%
USD/JPY at 151.13, up 0.11%
AUD/USD at 0.6404, up 0.05%
USD/CAD at 1.3789, down 0.01%
Dollar Index at 105.68, up 0.08%

Ten-Year Govt Bond Yields:

U.S. at 4.543%, up 0.35%
Germany at 2.6330%, up 0.77%
France at 3.221%, up 0.64%
U.K. at 4.3015%, up 1.40%
Japan at 0.832%, down 0.95%

Commodities:

Brent Oil Futures (Jan) at $80.25, up 0.89%.
Crude Oil WTI Futures (Dec) at $75.97, up 0.85%.
Gold Futures (Dec) at $1,952.45, down 0.27%.

Cryptocurrencies:

Bitcoin at $36,846.99, up 4.18%
Ethereum at $1,916.19, up 1.61%
BNB at $250.79, up 1.63%
XRP at $0.6994, up 0.56%
Solana (SOL) at $46.75, up 8.17%.

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