Markets Digest The Strong Labor Market Data From The U.S.

Market sentiment revolved around a strong labor market update from the U.S. on Friday that dented hopes of rate cuts by the Fed, as early as March. Contrary to market expectations of an addition of 180 thousand jobs in the month of January, the U.S. economy added 353 thousand jobs which was higher than the upwardly revised 333 thousand jobs in the previous month.

Wall Street Futures point towards a minor correction. Major European benchmarks are trading above the flatline. Asian stocks finished trading on a mostly negative note.

The Dollar Index jumped in the backdrop of the strong U.S. jobs data on Friday which was the biggest rise in employment in a year. Bond yields mostly hardened, pricing out rate cut expectations. Crude oil prices declined amidst rising geopolitical tensions as well as fading rate cut hopes. Gold prices slipped amidst the Dollar’s strength. Cryptocurrencies mostly gained.

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

Stock Indexes:

DJIA (US30) at 38,586.00, down 0.18%
S&P 500 (US500) at 4,951.40, down 0.15%
Germany’s DAX at 16,944.48, up 0.16%
U.K.’s FTSE 100 at 7,644.76, up 0.38%
France’s CAC 40 at 7,598.80, up 0.09%
Euro Stoxx 50 at 4,662.25, up 0.17%
Japan’s Nikkei 225 at 36,354.16, up 0.63%
Australia’s S&P ASX 200 at 7,625.90, down 0.95%
China’s Shanghai Composite at 2,702.19, down 1.02%
Hong Kong’s Hang Seng at 15,510.01 down 0.15%

Currencies:

EUR/USD at 1.0749, down 0.32%
GBP/USD at 1.2592, down 0.30%
USD/JPY at 148.46, up 0.06%
AUD/USD at 0.6500, down 0.18%
USD/CAD at 1.3486, up 0.19%
Dollar Index at 104.29, up 0.35%

Ten-Year Govt Bond Yields:

U.S. at 4.093%, up 1.49%
Germany at 2.2810%, up 1.92%
France at 2.784%, up 2.24%
U.K. at 4.0080%, up 3.41%
Japan at 0.716%, down 0.69%

Commodities:

Brent Oil Futures (Apr) at $77.03, down 0.39%.
Crude Oil WTI Futures (Mar) at $71.91, down 0.51%.
Gold Futures (Apr) at $2,040.45, down 0.65%.

Cryptocurrencies:

Bitcoin at $43,168.65, up 0.61%
Ethereum at $2,328.04, up 1.17%
BNB at $303.25, up 0.98%…