Dollar’s Surge, Chinese Covid Curbs And CPI Readings Keep Markets Subdued

It is another day of lackluster trading at stock markets worldwide as risk-on sentiment continued to be dented by fears of high inflation, aggressive rate hikes, and a potentially painful recession. Reports of fresh Covid curbs by China exacerbated the negative sentiment. Safe-haven dollar strengthened against multiple currencies, pushing the Dollar index higher.

Asian stock markets mostly declined. European stocks are trading lower. The Wall Street Futures are also trading in mildly negative territory.

The Dollar Index touched fresh 20-year highs, while the Euro almost depreciated towards Dollar parity. Bond yields eased further. Crude Oil prices continued to slump as fears of fresh Covid curbs from China dampened sentiment. Gold hovered near the flatline. Cryptocurrencies extended losses.

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

Stock Indexes:

DJIA (US30) at 30,998.40, down 0.56%
S&P 500 (US500) at 3,833.10, down 0.55%
Germany’s DAX at 12,765.19, down 0.52%
U.K.’s FTSE 100 at 7,191.95, down 0.06%
France’s CAC 40 at 5,983.80, down 0.21%
Euro Stoxx 50 at 3,457.05, down 0.42%
Japan’s Nikkei 225 at 26,336.66, down 1.77%
Australia’s S&P ASX 200 at 6,606.30, up 0.06%
China’s Shanghai Composite at 3,281.47, down 0.97%
Hong Kong’s Hang Seng at 20,842.00, down 1.34%

Currencies:

EURUSD at 1.0007, down 0.32%
GBPUSD at 1.1827, down 0.52%
USDJPY at 137.18, down 0.17%
AUDUSD at 0.6716, down 0.21%
USDCAD at 1.3046, up 0.32%
Dollar Index at 108.51, up 0.45%

Ten-Year Govt Bond Yields:

U.S. at 2.926%, down 2.17%
Germany at 1.1725%, down 6.20%
France at 1.709%, down 3.93%
U.K. at 2.1160%, down 2.85%
Japan at 0.236%, down 3.28%

Commodities:

Crude Oil WTI Futures (Aug) at $101.72, down 2.28%
Brent Oil Futures (Sep) at $105.11, down 1.86%
Gold Futures (Aug) at $1,732.00, up 0.02%

Cryptocurrencies:

Bitcoin at $19,732.58, down 3.49%
Ethereum at $1,069.34, down 6.49%
BNB at $223.36, down 2.79%
XRP at $0.311, down 4.87%
Cardano at $0.4318, down 4.59%

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