Markets Wait For The Fed's Pause Amidst Fears About Forward Guidance

Market sentiment remained tethered to the outcome of the Fed’s monetary policy due later on Wednesday. Easing in the CPI readings deepened expectations of a pause by the Fed, with the CME FedWatch tool indicating a more than 95 percent probability. Market focus now has shifted to the likely policy commentary and the forward guidance.

European benchmarks are trading higher. Wall Street Futures are trading directionless. Asian stocks finished trading on a mixed note.

Dollar declined, dragging the Dollar Index. Bond yields moved mixed. Crude oil prices gained as expectations of a pause by the Fed deepened. Gold gained amidst the greenback’s retreat. Cryptocurrencies mostly declined.

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

Stock Indexes:

DJIA (US30) at 34,156.10, down 0.16%
S&P 500 (US500) at 4,373.90, up 0.11%
Germany’s DAX at 16,329.55, up 0.61%
U.K.’s FTSE 100 at 7,620.35, up 0.34%
France’s CAC 40 at 7,349.03, up 0.80%
Euro Stoxx 50 at 4,383.15, up 0.82%
Japan’s Nikkei 225 at 33,502.42, up 1.47%
Australia’s S&P ASX 200 at 7,161.70, up 0.32%
China’s Shanghai Composite at 3,228.99, down 0.14%
Hong Kong’s Hang Seng at 19,408.42, down 0.58%

Currencies:

EUR/USD at 1.0805, up 0.11%
GBP/USD at 1.2640, up 0.23%
USD/JPY at 139.91, down 0.22%
AUD/USD at 0.6787, up 0.31%
USD/CAD at 1.3288, down 0.22%
Dollar Index at 103.11, down 0.22%

Ten-Year Govt Bond Yields:

U.S. at 3.805%, down 0.97%
Germany at 2.4345%, up 0.35%
France at 2.953%, up 0.03%
U.K. at 4.4555%, up 0.51%
Japan at 0.426%, down 1.16%

Commodities:

Brent Oil Futures (Aug) at $75.06, up 1.04%
Crude Oil WTI Futures (Jul) at $70.07, up 0.94%
Gold Futures (Aug) at $1,965.05, up 0.33%

Cryptocurrencies:

Bitcoin at $25,926.57, down 0.94%
Ethereum at $1,744.47, down 0.46%
BNB at $247.01, up 3.88%
XRP at $0.504, down 4.70%
Cardano (ADA) at $0.2736, down 3.13%

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