Markets Welcome Debt Deal, Await Jobs Data To Confirm Fed Pause

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Markets rallied as the Bill to suspend the debt limit was cleared by both the House and the Senate. Focus has shifted to the release of non-farm payrolls data for the month of May on Friday and the potential impact it could have on the Fed’s pause bets.

European benchmarks recorded strong gains, buoyed by the more-than-expected industrial output in France. Wall Street Futures are trading in positive territory. Asian stocks finished trading on a positive note.

Dollar continued to retreat as debt crisis and rate hike fears faded. Bond yields mostly hardened. Crude oil prices rebounded amidst debt deal euphoria. However, gains were limited by anxiety ahead of the weekend meeting of OPEC. Gold remained firm amidst expectations of a pause by the Fed in the next review. Cryptocurrencies rebounded.

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

Stock Indexes:

DJIA (US30) at 33,216.40, up 0.47%
S&P 500 (US500) at 4,241.70, up 0.49%
Germany’s DAX at 16,036.45, up 1.15%
U.K.’s FTSE 100 at 7,564.32, up 0.99%
France’s CAC 40 at 7,232.77, up 1.34%
Euro Stoxx 50 at 4,307.25, up 1.17%
Japan’s Nikkei 225 at 31,524.22, up 1.21%
Australia’s S&P ASX 200 at 7,145.10, up 0.48%
China’s Shanghai Composite at 3,230.07, up 0.79%
Hong Kong’s Hang Seng at 18,949.94, up 4.02%

Currencies:

EUR/USD at 1.0768, up 0.06%
GBP/USD at 1.2530, up 0.02%
USD/JPY at 138.89, up 0.07%
AUD/USD at 0.6628, up 0.87%
USD/CAD at 1.3414, down 0.26%
Dollar Index at 103.41, down 0.14%

Ten-Year Govt Bond Yields:

U.S. at 3.621%, up 0.28%
Germany at 2.2860%, up 1.60%
France at 2.841%, up 0.94%
U.K. at 4.1910%, up 1.60%
Japan at 0.409%, down 1.68%

Commodities:

Brent Oil Futures (Aug) at $75.74, up 1.97%
Crude Oil WTI Futures (Jul) at $71.50, up 2.00%
Gold Futures (Aug) at $1,996.25, up 0.04%

Cryptocurrencies:

Bitcoin at $27,161.52, up 0.89%
Ethereum at $1,892.63, up 1.63%
BNB at $307.86, up 1.09%
XRP at $0.5146, up 2.01%
Cardano (ADA) at $0.3733, up 2.81%

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