Markets Anxious As RBA Unexpectedly Hikes Rates

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Market sentiment remained tethered to the monetary policy outlook, amidst an unexpected rate hike by the Reserve Bank of Australia and the unexpected drop in services PMI readings in the U.S.

European benchmarks are trading in the red, amidst a steady retail sale reading from the Eurozone. Wall Street Futures are trading in mildly negative territory. Asian stocks finished trading on a mostly negative note.

Dollar weakened as an unexpected drop in Services sector PMI readings led to doubts about the Fed’s rate hike plans. Bond yields also eased in tandem. Crude oil prices declined as concerns regarding global oil demand offset the uptick that followed Saudi Arabia’s plans to cut production. Gold gained amidst the Dollar’s weakness. Cryptocurrencies plunged following regulatory action against crypto giant Binance.

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

Stock Indexes:

DJIA (US30) at 33,531.80, down 0.09%
S&P 500 (US500) at 4,271.00, down 0.07%
Germany’s DAX at 15,938.05, down 0.16%
U.K.’s FTSE 100 at 7,577.60, down 0.29%
France’s CAC 40 at 7,185.18, down 0.22%
Euro Stoxx 50 at 4,280.25, down 0.30%
Japan’s Nikkei 225 at 32,506.78, up 0.90%
Australia’s S&P ASX 200 at 7,129.60, down 1.20%
China’s Shanghai Composite at 3,195.34, down 1.15%
Hong Kong’s Hang Seng at 19,099.28, down 0.05%

Currencies:

EUR/USD at 1.0694, down 0.18%
GBP/USD at 1.2414, down 0.20%
USD/JPY at 139.45, down 0.10%
AUD/USD at 0.6655, up 0.56%
USD/CAD at 1.3427, down 0.13%
Dollar Index at 104.10, up 0.09%

Ten-Year Govt Bond Yields:

U.S. at 3.669%, down 0.63%
Germany at 2.3260%, down 2.02%
France at 2.873%, down 1.74%
U.K. at 4.2270%, up 0.48%
Japan at 0.418%, down 1.65%

Commodities:

Brent Oil Futures (Aug) at $75.26, down 1.89%
Crude Oil WTI Futures (Jul) at $70.71, down 2.00%
Gold Futures (Aug) at $1,980.20, up 0.30%

Cryptocurrencies:

Bitcoin at $25,787.41, down 3.56%
Ethereum at $1,820.02, down 2.47%
BNB at $278.58, down 7.27%
XRP at $0.5103, down 4.07%
Cardano (ADA) at $0.3546, down 5.01%

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