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Markets Eye A Pause In Monetary Policy Tightening

By Avila Sebastian   ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

An unexpected drop in the manufacturing PMI in the U.S and a lesser than expected rate hike by the Reserve Bank of Australia triggered hopes of a pause in monetary policy tightening, reviving sentiment in world markets.

Asian stocks finished with strong gains. European stocks also rallied. Wall Street also appears set to open with large gains.

The Dollar Index retreated amidst a drop in bond yields. Bond yields eased as hopes of a pause in monetary policy tightening strengthened. Gold surged amidst an unexpected drop in U.S. factory output. Crude prices continued to rise on expectations of a large output cut by the OPEC. Cryptocurrencies rebounded.

Here is a snapshot of the world markets at this hour across stocks, currencies, bonds, commodities and cryptocurrencies.

Stock Indexes:

DJIA (US30) at 29,842.20, up 1.19%
S&P 500 (US500) at 3,732.50, up 1.47%
Germany's DAX at 12,535.22, up 2.67%
U.K.'s FTSE 100 at 7,026.00, up 1.70%
France's CAC 40 at 5,967.13, up 2.99%
Euro Stoxx 50 at 3,441.45, up 2.97%
Japan's Nikkei 225 at 26,992.21, up 2.96%
Australia's S&P ASX 200 at 6,699.30, up 3.75%
China's Shanghai Composite at 3,024.39, down 0.55% (Sep, 30)
Hong Kong's Hang Seng at 17,079.51, down 0.83% (Oct, 3)

Currencies:

EURUSD at 0.9868, up 0.45%
GBPUSD at 1.1338, up 0.14%
USDJPY at 144.77, up 0.17%
AUDUSD at 0.6484, down 0.49%
USDCAD at 1.3636, up 0.10%
Dollar Index at 111.35, down 0.35%

Ten-Year Govt Bond Yields:

U.S. at 3.585%, down 1.80%
Germany at 1.8075%, down 4.57%
France at 2.404%, down 3.47%
U.K. at 3.8645%, down 2.12%
Japan at 0.216%, down 5.90%

Commodities:

Crude Oil WTI Futures (Nov) at $84.31, up 0.81%
Brent Oil Futures (Dec) at $89.69, up 0.93%
Gold Futures (Dec) at $1,718.15, up 0.95%

Cryptocurrencies:

Bitcoin at $19,918.70, up 3.70%
Ethereum at $1,349.83, up 4.52%
BNB at $290.75, up 1.86%
XRP at $0.4606, up 4.52%
Cardano at $0.4312, up 2.18%

For comments and feedback contact: editorial@rttnews.com

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