- Market tries to choose direction ahead of Fed minutes
- Europe wins with rising oil prices
- Bitcoin struggle
Futures on,, and fell on Wednesday as traders’ expectations of faster Fed monetary tightening were shaken by the New Zealand central bank’s approach – rates were only raised by 0.25% when they had reached 4.9% in the third quarter. Analysts expect New Zealand’s interest rate to hit 2% next year. Meanwhile, European markets have risen along with oil stocks.
Global Financial Affairs
It is unusual to see such a difference in direction between the US and European markets, but in some cases the markets in each region react to different events.
All four US contracts were in the red as traders await the release of the latest one today to see if there is any further clarification on the timing of future rate hikes.
In Europe, earnings increased 0.1% and extended up to 0.55%. The pan-European gauge rebounded Tuesday after its worst session in nearly two months. It ended a back-to-back four-day drop that was due to increasing coronavirus cases across the continent and the prospect of higher interest rates in an attempt to curb inflation.
Oil stocks were among the best performers in European markets, rising almost a percentage point, following the rise in crude prices. The rise in oil prices was a vote of no confidence in President Biden’s decision to lead a coalition of major oil-consuming countries to exploit in order to increase supply and reduce prices.
Miners jumped 1.2%, following higher prices and improving prospects for Chinese demand.
The Asian market provided mixed results, as investors grappled with the outcome of Jerome Powell’s appointment as President of the US Federal Reserve and its implications for monetary policy in the face of the highest inflation in 30 years.
Japan was dragged down 1.58% by lower growth stocks, underperforming its regional peers.
The index jumped more than 0.7%, ending a six-day losing streak following the measured rise in interest rates.
US stocks rose yesterday with economically sensitive sectors, to the detriment of tech stocks after yields rose, stifling the rally in growth stocks.
The close up at the end of a volatile day. and stocks outperformed in a reflation trade.
It added 0.55% to value, leading the major US indexes. However, the advance can be a last attempt before a knockdown.
The index may form an H&S peak.
The rest of Powell, the Fed chief, stepped up betting on higher interest rates earlier, leading to a massive sell-off in Treasuries. However, Treasury bond yields were at an all-time low, but still lower.
They reached the highest since July 9.
The movement extended the breakout of the double bottom.
rebounded, ending a four-day sell-off, but after hitting an H&S low.
The yellow metal may have found support at the bottom of an ascending channel.
struggles to find a direction.
The bulls are hanging on to where the cryptocurrency previously found support.
prices fluctuated as investors weighed on producers and their biggest customers.
Price abandoned a lead as it approached the top of its bearish channel.
Up to the front
- The announces his political decision Thursday.
- The US stock and bond markets are closed Thursday.
- German is published on Thursday.
- The STOXX 600 rose 0.4% at 8:38 a.m. London time
- S&P 500 futures have not changed much
- NASDAQ 100 futures have not changed much
- Futures contracts on the Dow Jones Industrial Average have changed little
- The index fell 0.4%
- The has been little changed
- The Dollar Index has changed little
- The was down 0.26% to $ 1.1216
- The decline of 0.07% to 115.03 per dollar
- The was little changed at 6.3912 per dollar
- The price has changed little to $ 1.3368
- The yield on 10-year treasury bills fell two basis points to 1.64%
- Germany’s yield fell one basis point to -0.23%
- UK yield was little changed at 0.99%
- rose 0.3% to $ 82.57 per barrel
- rose 0.2% to $ 1,792.13 an ounce