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Strong U.S. Services PMI Readings Renew Fed Fears

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

Market sentiment remained tethered to fears of rates remaining higher for longer, after strong services PMI readings from the U.S indicated a resilient economy. Markets also await the cues from Fed speakers lined up for the day.

Wall Street Futures are trading directionless. European benchmarks are trading mostly higher. Asian stock markets finished in the red amidst trade data from China that showed an 8.8 percent drop in exports and a 7.3 percent drop in imports.

Dollar Index remained firm above the flatline. Bond yields eased across regions. Crude oil prices declined as demand concerns resurfaced. Gold futures edged lower amidst the Dollar's strength. Cryptocurrencies are trading mixed.

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

Stock Indexes:

DJIA (US30) at 34,477.50, up 0.10%
S&P 500 (US500) at 4,455.90, down 0.21%
Germany's DAX at 15,770.05, up 0.18%
U.K.'s FTSE 100 at 7,447.35, up 0.29%
France's CAC 40 at 7,227.75, up 0.47%
Euro Stoxx 50 at 4,243.75, up 0.13%
Japan's Nikkei 225 at 33,010.00, down 0.73%
Australia's S&P ASX 200 at 7,171.00, down 1.19%
China's Shanghai Composite at 3,122.35, down 1.13%
Hong Kong's Hang Seng at 18,184.50, down 1.32%

Currencies:

EUR/USD at 1.0711, down 0.15%
GBP/USD at 1.2469, down 0.29%
USD/JPY at 147.45, down 0.13%
AUD/USD at 0.6381, down 0.02%
USD/CAD at 1.3651, up 0.12%
Dollar Index at 104.92, up 0.05%

Ten-Year Govt Bond Yields:

U.S. at 4.276%, down 0.40%
Germany at 2.6255%, down 1.15%
France at 3.153%, down 1.28%
U.K. at 4.5100%, down 0.57%
Japan at 0.647%, down 1.89%

Commodities:

Brent Oil Futures (Nov) at $89.91, down 0.76%.
Crude Oil WTI Futures (Oct) at $86.80, down 0.85%.
Gold Futures (Dec) at $1,943.75, down 0.02%.

Cryptocurrencies:

Bitcoin at $25,748.03, up 0.05%
Ethereum at $1,633.32, up 0.16%
BNB at $215.56, up 0.41%
XRP at $0.4982, down 0.51%
Cardano (ADA) at $0.2555, down 0.26%

For comments and feedback contact: editorial@rttnews.com

Business News

Global Economics Weekly Update - Jun 08-12, 2026

June 12, 2026 17:14 ET
Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.