The Fed’s Going To Hike Rates Again And That’s Moving Markets

Markets reacted cautiously to the minutes of the recent Fed meeting that revealed a Fed that is inclined to increase rates further so as to tame inflation. However, the minutes also instilled hopes that the Fed would slow down its pace of rate hikes.

Asian stocks finished with losses. European stocks are trading higher. Wall Street Futures are also in negative territory.

The Dollar Index gained. Bond yields eased in the U.S. but hardened in other major regions. Crude oil prices gained following a decline in crude oil inventories in the U.S. Gold gained while cryptocurrencies declined.

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

Stock Indexes:

DJIA (US30) at 33,958.7, down 0.06%
S&P 500 (US500) at 4,272.8, down 0.03%
Germany’s DAX at 13,738.85, up 0.82%
U.K.’s FTSE 100 at 7,515.95, up 0.00%
France’s CAC 40 at 6,561.75, up 0.51%
Euro Stoxx 50 at 3,770.85, up 0.39%
Japan’s Nikkei 225 at 28,942.14, down 0.96%
Australia’s S&P ASX 200 at 7,112.80, down 0.21%
China’s Shanghai Composite at 3,277.54, down 0.46%
Hong Kong’s Hang Seng at 19,763.91, down 0.80%

Currencies:

EURUSD at 1.0162, down 0.18%
GBPUSD at 1.2046, down 0.01%
USDJPY at 135.32, up 0.23%
AUDUSD at 0.6940, up 0.12%
USDCAD at 1.2908, down 0.01%
Dollar Index at 106.80, up 0.21%

Ten-Year Govt Bond Yields:

U.S. at 2.888%, down 0.25%
Germany at 1.1185%, up 3.47%
France at 1.686%, up 1.81%
U.K. at 2.3290%, up 1.75%
Japan at 0.197%, down 0.51%

Commodities:

Crude Oil WTI Futures (Sep) at $89.39, up 1.45%
Brent Oil Futures (Oct) at $95.27, up 1.73%
Gold Futures (Dec) at $1,779.75, up 0.17%

Cryptocurrencies:

Bitcoin at $23,458.38, down 1.48%
Ethereum at $1,847.55, down 2.30%
BNB at $308.07, down 2.50%
XRP at $0.3773, down 0.17%
Cardano at $0.5403, down 3.10%

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