In Asian Equity Markets stocks gained for a third straight day on Thursday, on growing hopes that major central banks could start slowing the pace of interest rate hikes, with the European Central Bank’s meeting later in the day in focus for further clues. MSCI’s broadest index of Asia-Pacific shares outside Japan rallied 1.24 percent. Australia’s resources-heavy share index advanced 0.5 percent, while Japan’s Nikkei was down 0.3 percent. Hong Kong’s Hang Seng added 2 percent, but had come down from the day’s highs as bargain hunters’ enthusiasm ebbs.

In Currency Markets the dollar stood close to a more than one-month low against a basket of currencies on Thursday, amid growing hopes that the U.S. Federal Reserve will shift to less aggressive interest rate hikes to temper recession risks. The euro peaked at $1.00935 ahead of an expected ECB rate hike later in the session, while sterling was at $1.1645 in early Asia trade. The U.S. dollar index was up 0.05 percent at 109.61, after having slid to 109.54 earlier in the session, its lowest level in over a month. The Aussie gained 0.18 percent to $0.6507, while the kiwi rose to $0.5870

In US Equity Markets the S&P 500 ended a three-day winning streak on Wednesday, closing in negative territory as gloomy earnings guidance added to growing fears of a global economic slowdown. The Dow rose 0.01 percent, to 31,839.11, the S&P 500 lost 0.74 percent, to 3,830.6 and the Nasdaq Composite fell 2.04 percent, to 10,970.99. Boeing Co reported a deeper than expected third quarter loss, sending its shares sliding 8.8 percent. Visa Inc rose 4.6 percent in the wake of the consumer credit company’s profit beat. Facebook parent Meta Inc shares fell more than 12 percent in after-hours trading after posting results.

In Commodities Markets oil prices fell on Thursday, reversing a more-than-3 percent rally in the previous session, as lingering fears over slack demand in China outweighed optimism from record U.S. crude exports and a weaker U.S. dollar. Brent crude futures fell 0.3 percent, to $95.44 a barrel, giving up an early gain. U.S. WTI crude slid 0.3 percent, to $87.66 a barrel, also surrendering earlier gains. Spot gold rose 0.8 percent to $1,665.09 per ounce. Spot silver rose 0.86 percent to $19.51 per ounce, platinum rose 3.8 percent to $949.54 and palladium rose 1 percent to $1,942.75.

In European Equity Markets stocks reversed early losses to hit a five-week high on Wednesday after a smaller-than-expected interest rate hike by the Bank of Canada (BoC) ignited hopes that major central banks could temper rate-hike stance. The pan-European STOXX 600 index ended up 0.7 percent at its strongest level since September 20. Germany’s blue-chip DAX jumped 1.1 percent, France’s CAC 40 rose 0.4 percent and Italy’s FTSE MIB climbed 0.5 percent, all the three hitting a six-week highs. Italy’s UniCredit rose 4.3 percent after the bank raised its 2022 profit goal.

In Bond Markets treasury yields fell on Wednesday, helped by a weaker dollar and renewed speculation that the Federal Reserve may slow its rapid pace of raising interest rates to tackle high inflation after a closely watched part of the yield curve inverted further. The yield on 10-year notes slid below 4.0 percent for the first time in more than a week after a monthslong climb higher, and was last down 9.3 basis points to 4.017 percent. The yield on 30-year Treasuries fell 10 basis points to 4.164 percent. The two-year U.S. Treasury yield fell 4 basis points at 4.427 percent.