Markets Wait For U.S. CPI Update

Anxiety about the Fed's monetary policy actions deepened ahead of the release of September's data on consumer price inflation in the U.S. With the Fed minutes released on Wednesday revealing the Fed's...

RTT Staff Writer•Thursday, October 10, 2024•2 min read

Anxiety about the Fed’s monetary policy actions deepened ahead of the release of September’s data on consumer price inflation in the U.S. With the Fed minutes released on Wednesday revealing the Fed’s commitment to bring inflation to the Committee’s target, markets are hoping for a softening in the CPI. The headline annual inflation is seen declining to 2.3 percent from 2.5 percent in August.

According to the CME Group’s FedWatch Tool that tracks the expectations of interest rate traders, the likelihood of a quarter-point cut in the next Fed review in November has decreased to 77.6 percent from 80.3 percent a day earlier.

Wall Street Futures have edged down. European benchmarks are trading lower. Major benchmarks in Asia closed on a positive note.

Dollar Index is trading flat. Bond yields mostly hardened. The storm in U.S. as well as the tensions in Middle East aided a spike in crude oil prices. Gold prices rebounded after several loss-making sessions. Cryptocurrencies declined.

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

Stock Indexes:

DJIA (US30) at 42,482.00 down 0.07%
S&P 500 (US500) at 5,783.00, down 0.16%
Germany’s DAX at 19,252.35, down 0.03%
U.K.’s FTSE 100 at 8,222.74, down 0.25%
France’s CAC 40 at 7,544.58, down 0.21%
Euro Stoxx 50 at 4,975.65, down 0.14%
Japan’s Nikkei 225 at 39,414.50, up 0.29%
Australia’s S&P ASX 200 at 8,223.00, up 0.43%
China’s Shanghai Composite at 3,301.93, up 1.32%
Hong Kong’s Hang Seng at 21,251.98, up 2.98%

Currencies:

EUR/USD at 1.0936, down 0.03%
GBP/USD at 1.3079, up 0.07%
USD/JPY at 148.97, down 0.21%
AUD/USD at 0.6720, up 0.04%
USD/CAD at 1.3746, up 0.27%
Dollar Index at 102.92, down 0.01%

Ten-Year Govt Bond Yields:

U.S. at 4.083%, up 0.40%
Germany at 2.2800%, up 1.06%
France at 3.044%, up 0.53%
U.K. at 4.2780%, up 2.30%
Japan at 0.958%, up 0.00%

Commodities:

Brent Oil Futures (Dec) at $77.81, up 1.61%.
Crude Oil WTI Futures (Nov) at $74.50, up 1.72%.
Gold Futures (Dec) at $2,634.85, up 0.34%.

Cryptocurrencies:

Bitcoin at $61,050.69, down 1.67%
Ethereum at $2,394.80, down 1.55%
BNB at $568.55, down 2.47%
Solana at $139.32, down 2.23%
XRP at $0.5266, down 1.08%.