World Market Trends Driven By Rate Cut Hopes

Growing rate cut hopes dominated global market sentiment even amidst lingering concerns about the PCE data to be released from the U.S. on Friday. The yen's weakness amidst hints of a potentially longer-than-expected accommodative stance by the Bank of Japan also swayed market sentiment.

Wall Street Futures indicate moderate gains. Major European benchmarks are trading mixed while the DAX touched a record high. Asian shares too finished on a mixed note.

The Dollar Index edged up amidst a fondness for the high-yielding low-risk currency. Bond yields moved in a mixed fashion. Rising level of inventories dragged down crude oil prices. Geopolitical tensions triggered a spike in gold prices. Cryptocurrencies declined.

Here is a glimpse of the major world markets at this hour.

Stock Indexes:

DJIA (US30) at 39,477.50, up 0.50%
S&P 500 (US500) at 5,230.40, up 0.52%
Germany's DAX at 18,447.05, up 0.26%
U.K.'s FTSE 100 at 7,908.14, down 0.29%
France's CAC 40 at 8,193.69, up 0.11%
Euro Stoxx 50 at 5,078.05, up 0.27%
Japan's Nikkei 225 at 40,791.00, up 0.73%
Australia's S&P ASX 200 at 7,819.60, up 0.51%
China's Shanghai Composite at 2,993.14, down 1.26%
Hong Kong's Hang Seng at 16,392.84, down 1.36%

Currencies:

EUR/USD at 1.0828, down 0.02%
GBP/USD at 1.2627, up 0.02%
USD/JPY at 151.22, down 0.22%
AUD/USD at 0.6526, down 0.08%
USD/CAD at 1.3596, up 0.11%
Dollar Index at 104.30, up 0.01%

Ten-Year Govt Bond Yields:

U.S. at 4.239%, up 0.14%
Germany at 2.3330%, down 0.68%
France at 2.822%, down 0.35%
U.K. at 4.0090%, up 0.88%
Japan at 0.713%, down 1.25%

Commodities:

Brent Oil Futures (Jun) at $84.95, down 0.79%.
Crude Oil WTI Futures (May) at $80.94, down 0.83%.
Gold Futures (Apr) at $2,190.30, up 0.60%.

Cryptocurrencies:

Bitcoin at $70,061.05, down 1.51%
Ethereum at $3,572.30, down 2.53%
BNB at $577.96, down 3.17%
Solana at $186.35, down 4.65%
XRP at $0.6211, down 4.24%.

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