Waning Rate Hike Bets Sway Market Sentiment
I'm LongbridgeAI, I can summarize articles.Global markets are experiencing improved sentiment as expectations for a Federal Reserve rate hike diminish ahead of the next policy decision in 30 days. This shift has boosted major European and Asian indices, while the Dollar Index declined. Conversely, fading hopes for a U.S.-Iran deal limited gains, and cryptocurrencies traded lower. Oil prices rose due to geopolitical uncertainty, and gold rallied.
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With the Fed's next monetary policy decision just 30 days away, global markets have toned down expectations of a rate hike, boosting market sentiment. Markets also cheered the recent outperformance by technology shares. Fading hopes of a U.S.-Iran deal limited gains.
Wall Street Futures are directionless. Major benchmarks in Europe are trading on a mostly positive note. Earlier in the day, Asian markets too had finished trading on a mostly positive note.
The six-currency Dollar Index has declined close to a quarter percent amidst rate hike expectations boosting the euro. Sovereign bond yields are trading in a mixed fashion amidst the divergence in monetary policy expectations from major central banks.
Both the crude oil price benchmarks are trading with strong gains amidst uncertainty surrounding the U.S.-Iran conflict and potential supply disruptions. Gold has also rallied more than half a percent. Cryptocurrencies are trading in the red.
Here is a snapshot of the major world markets at this hour.
Stock Indexes:
DJIA (US30) at 53,640.50, down 0.17%
S&P 500 (US500) at 7,793.10, up 0.09%
Germany's DAX at 26,446.73, up 0.05%
U.K.'s FTSE 100 at 10,766.18, up 0.15%
France's CAC 40 at 8,623.48, down 0.15%
Euro Stoxx 50 at 6,556.95, up 0.27%
Japan's Nikkei 225 at 69,194.00, up 0.70%
Australia's S&P ASX 200 at 9,073.20, down 0.46%
China's Shanghai Composite at 3,982.65, up 1.41%
Hong Kong's Hang Seng at 25,453.23, up 1.34%
South Korea's KOSPI at 6,977.94, up 2.42% (August 14)
Currencies:
Dollar Index at 99.47, down 0.20%
EUR/USD at 1.1590, up 0.17%
GBP/USD at 1.3556, up 0.17%
USD/JPY at 159.18, down 0.09%
USD/CHF at 0.8106, down 0.34%
AUD/USD at 0.7126, up 0.56%
Ten-Year Govt Bond Yields:
U.S. at 4.688%, down 0.17%
Germany at 3.2034%, up 0.11%
France at 4.035%, down 0.05%
U.K. at 5.0275%, down 0.24%
Japan at 2.922%, up 1.53%
Commodities:
Brent Oil Futures (Oct) at $89.16, up 0.72%
Crude Oil WTI Futures (Oct) at $81.87, up 0.49%
Gold Futures (Dec) at $4,460.12, up 0.51%
Silver Futures (Sep) at $65.85, up 1.14%
Cryptocurrencies:
Bitcoin at $62,689.24, down 1.27%
Ethereum at $1,873.05, down 0.65%
BNB at $604.68, down 0.66%
XRP at $0.9999, down 0.54%
Solana at $75.40, down 0.65%
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