China’s Covid Relaxations Spur Demand Hopes; Equities, Oil, Bonds Rise

Markets worldwide on Tuesday moved up amidst China relaxing quarantine restrictions. Markets also eyed the ECB Forum on Central Banking for cues on central bank thinking.

Equity markets in Asia and Europe rallied. The Wall Street Futures are in positive territory. The Dollar Index retreated, albeit marginally amidst hawkish comments by the ECB President that lifted the Euro. Bond yields surged. Oil prices rebounded amidst hopes of revival in demand following lifting of Covid curbs by China. Supply concerns also aided the sentiment. Gold edged up. Cryptocurrencies declined again.

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

Stock Indexes:

DJIA (US30) at 31,625.50, up 0.60%
S&P 500 (US500) at 3,922.60, up 0.58%
Germany’s DAX at 13,304.63, up 0.90%
U.K.’s FTSE 100 at 7,326.40, up 0.94%
France’s CAC 40 at 6,126.64, up 1.31%
Euro Stoxx 50 at 3,574.45, up 1.01%
Japan’s Nikkei 225 at 27,049.47, up 0.66%
Australia’s S&P ASX 200 at 6,763.60, up 0.86%
China’s Shanghai Composite at 3,409.21, up 0.89%
Hong Kong’s Hang Seng at 22,392.00, up 0.73%

Currencies:

EURUSD at 1.0594, up 0.10%
GBPUSD at 1.2287, up 0.19%
USDJPY at 135.69, up 0.19%
AUDUSD at 0.6958, up 0.50%
USDCAD at 1.2824, down 0.42%
Dollar Index at 103.86, down 0.08%

Ten-Year Govt Bond Yields:

U.S. at 3.221%, up 0.83%
Germany at 1.6265%, up 5.48%
France at 2.165%, up 4.26%
U.K. at 2.4685%, up 3.07%
Japan at 0.231%, down 1.70%

Commodities:

Crude Oil WTI Futures (Aug) at $111.09, up 1.39%
Brent Oil Futures (Sep) at $112.58, up 1.44%
Gold Futures (Aug) at $1,828.85, up 0.22%

Cryptocurrencies:

Bitcoin at $20,887.37, down 2.29%
Ethereum at $1,207.17, down 1.74%
BNB at $237.61, down 0.96%
XRP at $0.3502, down 3.55%
Cardano at $0.4881, down 3.27%

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