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Markets Update: US CPI aligns with expectations. Euro STOXX 600 rises. Dollar reaches a two-week peak.
Global Markets Roundup: 11 December 2024
FESX1! | Z1! | NI225 | NQ1! | ES1! | EURUSD | USDJPY | GOLD | CL1! | ZC1! | ZS1! HG1!
Global shares and Wall Street indexes increased on Wednesday following an inflation report that matched expectations, maintaining predictions that the Federal Reserve will reduce interest rates later this month. The dollar reached a two-week peak, and gold prices climbed. Oil prices trimmed their gains after OPEC reduced its demand growth forecasts. The Dow Jones Industrial Average DJI increased by 14.83 points, or 0.03%, to 44,262.66, the S&P 500 SPX gained 44.19 points, or 0.73%, to 6,079.10, and the Nasdaq Composite IXIC advanced 262.88 points, or 1.34%, to 19,950.12. MSCI's global stock index EURONEXT:IACWI went up 3.81 points, or 0.44%, to 870.22. The European STOXX 600 SXXP index increased by 0.12%, while emerging market stocks CBOE:EFS decreased by 4.28 points, or 0.38%. Earlier, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) declined by 0.5%.
In currencies, the dollar index DXY, which evaluates the greenback against a mix of currencies including the yen and the euro, increased by 0.3% to 106.67, with the euro EURUSD falling 0.35% to $1.049. China's yuan declined, and currencies across Asia weakened against the dollar after Reuters reported that China might permit a weaker currency next year to cope with any higher tariffs. The Canadian dollar USDCAD stayed near a 4-1/2 year low reached on Tuesday, as traders anticipated an 89% likelihood of a substantial 50 basis point rate cut by the Bank of Canada later on Wednesday. EURUSD | USDJPY | GBPUSD | AUDUSD | NZDUSD
In commodities, arabica coffee prices KC2! hit a record high due to dealers' concerns that a drought might affect production in Brazil, the top producer. U.S. crude CL1! rose by 1.18% to $69.40 per barrel, while Brent BRN1! increased to $72.81 per barrel, reflecting a 0.86% rise for the day. Spot gold GOLD went up by 0.77% to $2,714.39 per ounce. GOLD | CL1! | ZC1! | ZS1! HG1!
Looking forward refer to the economic calendar below to see the upcoming events scheduled for today and the rest of the week.
General news - Information source from multiple newswires.
The article and the data is for general information use only, not advice!
The Trade Academy Team