Easing European Inflation, Resilient U.S. Economy Add To Investor Dilemma

Market sentiment remains torn between the strong economic indicators from the U.S. that heightened the case for rate hikes by the Fed and easing inflation in the Euro Area that renewed hopes of a pause by the ECB. Focus has now shifted to the release of the PCE inflation readings from the U.S. due later in the day.

European benchmarks are trading higher amidst euphoria over easing inflation numbers. Wall Street Futures are also trading higher. Asian stocks however finished mixed.

Dollar Index remained firm. Bond yields hardened across tenors. Crude oil prices stayed firm even as concerns over global demand persisted. Rate hike worries dragged down gold prices. Cryptocurrencies recorded strong gains.

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

Stock Indexes:

DJIA (US30) at 34,218.60, up 0.28%
S&P 500 (US500) at 4,413.30, up 0.38%
Germany’s DAX at 16,132.95, up 1.17%
U.K.’s FTSE 100 at 7,526.72, up 0.74%
France’s CAC 40 at 7,399.26, up 1.18%
Euro Stoxx 50 at 4,396.65, up 0.96%
Japan’s Nikkei 225 at 33,189.04, down 0.14%
Australia’s S&P ASX 200 at 7,203.30, up 0.12%
China’s Shanghai Composite at 3,202.06, up 0.62%
Hong Kong’s Hang Seng at 18,916.43, down 0.09%

Currencies:

EUR/USD at 1.0843, down 0.19%
GBP/USD at 1.2629, up 0.13%
USD/JPY at 144.69, down 0.05%
AUD/USD at 0.6620, up 0.08%
USD/CAD at 1.3263, up 0.11%
Dollar Index at 103.45, up 0.10%

Ten-Year Govt Bond Yields:

U.S. at 3.883%, up 0.83%
Germany at 2.4285%, up 0.64%
France at 2.961%, up 0.37%
U.K. at 4.4795%, up 2.27%
Japan at 0.399%, up 0.76%

Commodities:

Brent Oil Futures (Sep) at $74.70, up 0.25%
Crude Oil WTI Futures (Aug) at $69.98, up 0.17%
Gold Futures (Aug) at $1,912.70, down 0.27%

Cryptocurrencies:

Bitcoin at $30,801.11, up 1.22%
Ethereum at $1,887.81, up 1.70%
BNB at $239.07, up 2.33%
XRP at $0.4761, up 1.61%
Cardano (ADA) at $0.291, up 6.16%

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