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Markets Wary Of Fed's Rate Trajectory

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

Uncertainty over a peak in the Fed's interest rates spoiled sentiment as markets speculated on whether it was yet time to rule out further rate hikes by the Fed. The easing in bond yields also added to the confusion as a recent spike in bond yields had to an extend obviated the need for further rate hikes by the Fed. The not-so-dovish Fed rhetoric and anxiety ahead of the speech by Chair Jerome Powell as well as the latest earnings updates also swayed sentiment across markets.

Wall Street Futures are trading in mildly negative territory. European benchmarks are moving mostly lower. Asian stocks slipped.

Dollar gained ahead of a speech by Fed Chair Jerome Powell. Bond yields eased across regions and tenors. Crude oil prices declined amidst not-so-encouraging trade data from China. Gold futures declined amidst the Dollar's strength. Cryptocurrencies are trading mixed.

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

Stock Indexes:

DJIA (US30) at 34,039.40, down 0.17%
S&P 500 (US500) at 4,357.90, down 0.19%
Germany's DAX at 15,114.05, down 0.14%
U.K.'s FTSE 100 at 7,425.61, up 0.11%
France's CAC 40 at 6,987.56, down 0.37%
Euro Stoxx 50 at 4,149.95, down 0.21%
Japan's Nikkei 225 at 32,271.82, down 1.37%
Australia's S&P ASX 200 at 6,977.10, down 0.29%
China's Shanghai Composite at 3,057.27, down 0.04%
Hong Kong's Hang Seng at 17,660.00, down 1.70%

Currencies:

EUR/USD at 1.0696, down 0.18%
GBP/USD at 1.2312, down 0.23%
USD/JPY at 150.31, up 0.16%
AUD/USD at 0.6429, down 0.91%
USD/CAD at 1.3744, up 0.35%
Dollar Index at 105.55, up 0.31%

Ten-Year Govt Bond Yields:

U.S. at 4.593%, down 1.56%
Germany at 2.6880%, down 1.83%
France at 3.281%, down 1.72%
U.K. at 4.3365%, down 0.97%
Japan at 0.876%, down 0.57%

Commodities:

Brent Oil Futures (Jan) at $83.40, down 2.09%.
Crude Oil WTI Futures (Dec) at $79.19, down 2.02%.
Gold Futures (Dec) at $1,972.75, down 0.80%.

Cryptocurrencies:

Bitcoin at $34,695.16, down 1.43%
Ethereum at $1,876.76, down 0.99%
BNB at $248.41, up 1.58%
XRP at $0.6834, down 1.53%
Solana (SOL) at $40.75, up 0.47%.

For comments and feedback contact: editorial@rttnews.com

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