Home Economy Opening Bell: U.S. Futures, Europe Stocks Diverge; Dollar, Gold Rise

Opening Bell: U.S. Futures, Europe Stocks Diverge; Dollar, Gold Rise

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  • Market attempts to pick direction ahead of Fed minutes
  • Europe gains with higher oil prices
  • Bitcoin struggles

Key Events

Futures on the , , and fell in trading on Wednesday as traders’ expectations for faster monetary tightening by the Fed were dented by the  approach from New Zealand’s central bank—rates were hiked just 0.25% despite there hitting 4.9% in Q3. Analysts expect New Zealand’s interest rate to reach 2% next year. Meanwhile, European markets rose with oil stocks.

Gold recovered.

Global Financial Affairs

It is unusual to see such a difference in direction between US and European markets, but in some instances, markets in each area respond to different events.

All four US contracts were in the red as traders there are awaiting the publication of the later today to see if there is any additional clarity on the timing of future rate hikes.

In Europe the opened 0.1% higher and extended gains up to 0.55%. The pan-European gauge rebounded…

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