Markets mixed after Fed signals fewer 2025 rate cuts - 19.12.2024

Senior Analytical Expert

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Todays’ Market Summary

The Dollar strengthening has halted
The US stock index futures are up currently
Brent is edging higher presently.
Gold prices are retracing up

Top daily news

Global equity indexes are pointing in different directions currently after Wall Street sold off as Federal Reserve lowered interest rates but also signaled fewer 2025 rate cuts in its forecast on Wednesday. Apple shares fell 2.25% outperforming market while JPMorgan said Apple Intelligence still is not driving iPhone sales, Nvidia shares slid 1.14% on Wednesday.

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Forex news

Currency Pair	Change
EUR/USD	+0.5%
GBP/USD	+0.3%
USD/JPY	+0.5%
AUD/USD	+0.2%

The Dollar strengthening has halted today. 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, surged 1.2% higher on Wednesday.

GBP/USD joined EUR/USD's accelerated retreating yesterday. Both Pound and euro are higher against the dollar currently. USD/JPY reversed its sliding while AUD/USD accelerated its retreating on Wednesday with the yen lower against the Greenback currently and the Australian dollar higher.

Stock Market news

Indices	Change
DJIA	+0.4%
Nikkei 225	+1.7%
Hang Seng (HSI)	-0.4%
Australia 200	-1.1%

The US stock index futures are up currently ahead of unemployment benefits report at 17:30 CET today. US stocks closed sharply lower on Wednesday with the three main US stock benchmarks recording daily losses in a range from -3.6% to -2.6% after Federal Reserve lowered interest rates but also signaled fewer 2025 rate cuts in its forecast.

European stock indexes futures are retreating currently after closing marginally higher on Wednesday. The Bank of England held interest rates at 4.75% today after inflation uptick. Asian stock indexes futures are mixed currently with Australia’s S&P/ASX 200 All Ordinaries index leading losses while the Bank of Japan kept interest rates steady as expected.

Commodity Market news

Commodities	Change
Brent Oil	+0.1%
WTI Crude Oil	+0.1%

Brent is edging higher presently. Prices ended higher on Wednesday as the Energy Information Administration reported US oil inventories fell last week while gasoline inventories rose. The US oil benchmark West Texas Intermediate (WTI) futures rose 0.7% and are higher currently. Brent crude gained 0.27% to $73.39 a barrel on Wednesday.