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Amidst Hawkish Fed Hints, Markets Wary Of Jobs Data

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

Two key labor market updates due during the week that is seen holding significant sway over FOMC's interest rate decision dominated market sentiment. The JOLTs Job Openings data for August is due on Tuesday whereas the non-farm payrolls data for September is due on Friday.

Wall Street Futures are trading just above the flatline. European benchmarks are trading mostly below the previous close. Asian stocks too finished lower.

Hawkish commentary from Fed officials lifted the Dollar Index further. Bond yields hardened across regions as markets priced in the Fed's hawkish outlook on interest rates. Dollar strength eclipsed supply concerns to dampen crude oil prices. Renewed rate hike fears dragged down gold prices. Cryptocurrencies declined.

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

Stock Indexes:

DJIA (US30) at 33,443.20, up 0.03%
S&P 500 (US500) at 4,291.20, up 0.07%
Germany's DAX at 15,189.75, down 0.38%
U.K.'s FTSE 100 at 7,528.14, up 0.23%
France's CAC 40 at 7,046.16, down 0.31%
Euro Stoxx 50 at 4,126.95, down 0.26%
Japan's Nikkei 225 at 31,212.50, down 1.83%
Australia's S&P ASX 200 at 6,943.40, down 1.28%
China's Shanghai Composite at 3,110.48, up 0.10% (Sep 28)
Hong Kong's Hang Seng at 17,276.00, down 3.00%

Currencies:

EUR/USD at 1.0488, up 0.11%
GBP/USD at 1.2086, up 0.00%
USD/JPY at 149.85, up 0.00%
AUD/USD at 0.6311, down 0.80%
USD/CAD at 1.3726, up 0.37%
Dollar Index at 107.02, up 0.11%

Ten-Year Govt Bond Yields:

U.S. at 4.710%, up 0.49%
Germany at 2.9405%, up 1.01%
France at 3.502%, up 0.85%
U.K. at 4.6080%, up 0.90%
Japan at 0.749%, down 1.64%

Commodities:

Brent Oil Futures (Dec) at $90.72, up 0.01%.
Crude Oil WTI Futures (Nov) at $88.93, up 0.12%.
Gold Futures (Dec) at $1,842.15, down 0.27%.

Cryptocurrencies:

Bitcoin at $27,577.59, down 2.57%
Ethereum at $1,663.48, down 4.06%
BNB at $215.41, down 2.09%
XRP at $0.5087, down 2.80%
Solana (SOL) at $24.28, up 0.61%.

For comments and feedback contact: editorial@rttnews.com

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