Markets tumble after Powel signaled March rate hike - 27.1.2022

Senior Analytical Expert

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Todays’ Market Summary

The Dollar strengthening is intact
The US stock index futures are down currently
Brent is edging down currently.
Gold prices are extending losses

Top daily news

Global stocks are sharply lower currently after Wall Street retreated Wednesday as Powel warned that supply chain issues may be more persistent than previously thought and signaled plans to steadily tighten policy. Microsoft shares gained 2.85% outperforming market on strong forecast, Facebook shares slid 2.0% Wednesday amid news Facebook’s cryptocurrency effort has come to end as the consortium it founded in 2019 to build a payments network is selling its technology to a small California bank that serves bitcoin and blockchain companies for about $200 million.

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Forex news

Currency Pair	Change
EUR USD	-0.32%
GBP USD	-0.31%
USD JPY	+0.09%
AUD USD	-0.48%

The Dollar strengthening is intact currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, jumped 0.5% Wednesday as US Treasury yields rallied.

GBP/USD joined EUR/USD’s accelerated retreating on Wednesday. Both Euro and Pound are lower against the Dollar currently. USD/JPY reversed its sliding yesterday while AUD/USD reversed its advancing with both the Australian dollar and yen lower against the Greenback currently.

Stock Market news

Indices	Change
Dow Jones Index	-0.44%
Nikkei Index	-3.1%
Hang Seng Index	-1.56%
Australian Stock Index	-2.2%

The US stock index futures are down currently ahead of the US Labor Department report at 14:30 CET expected to show 260 thousand Americans sought unemployment benefits over the last week, down from 286 thousand the previous week. The three main US stock indexes booked returns ranging from -0.38% to 0.02% Wednesday as US Treasury yields rose and benchmark 10-year yield hit a high of 1.88%.

European stock indexes are mixed currently after ending higher Wednesday with oil and gas shares leading gainers. Asian stock indexes are sharply down today with Nikkei leading losses.

Commodity Market news

Commodities	Change
Brent Crude Oil	-0.1%
WTI Crude	-0.14%

Brent is edging down currently. Prices gained Wednesday despite US Energy Information Administration report domestic crude stockpiles rose unexpectedly last week by 2.4 million barrels. The US oil benchmark West Texas Intermediate (WTI) futures rose 2% but is lower currently. Brent crude gained 2% to $89.96 a barrel on Wednesday.