Morning Digest: Cautious Start with GBP & CHF Gains
London: 21 May 2024 (TraderMade): Welcome to today’s Morning Digest! The global financial markets painted a mixed and cautious picture this morning, with the pound and Swiss francs leading the forex pack. However, global indices, Energy, and metals lost ground. Let’s deep-dive into various sectors:
Key Takeaways
- In forex, GBP and CHF gained 0.05% each, while AUD and CAD declined 0.12% and 0.08% versus the USD, respectively.
- Asian equities dipped: The Nikkei (JPN225) slipped 0.82%, and the Hang Seng (HKG33) declined 1.07%.
- European indices were flat: FTSE (UK100), CAC (FRA40), and DAX (GER30) remained almost unchanged.
- US indices slightly edged up: S&P 500 (SPX500), Nasdaq (NAS100), and Dow Jones (USA30) slightly gained by around 0.05% today.
- Energy markets dipped: Brent (UKOIL) slipped 0.59%, WTI (OIL) slipped 0.56%, and Natural Gas (NATGAS) also slipped 0.19%.
- Gold (XAUUSD) dipped 0.49%, and Silver (XAGUSD) slipped 1.3%.
G10 Forex
GBP and CHF are Top Gainers
In the G10 FX Market, British Pound Sterling (GBP: Up 0.05%) and Swiss Francs (CHF: Up 0.05%) are the top gainers today versus the dollar (USD).
AUD and CAD are Top Laggers
The Australian Dollar (AUD: Dipped 0.12%) and Canadian Dollar (CAD: Slipped 0.08%) are the top losers versus the dollar, respectively.
Forex Daily Pivot Points
Global Indices Mixed
Asian Markets Declined
Today, Asian equities markets are weaker. The Hang Seng was trading at 19318.0, down 1.07%, and the Nikkei 225 was trading at 38992.0, down 0.82%.
European Indices Flat
- The UK’s FTSE 100 (UK100) trades flat at 8407.301.
- France’s CAC 40 (FRA40) dipped 0.23% to 8171.3.
- Germany’s DAX 30 (GER30) trades almost flat at 18749.4.
US Equities Futures Slightly Edged Up
Looking at Equity Futures so far, The SP500 Futures was trading at 5315.5498, up 0.03%.
Popular US Indices Slightly Gained
- Standard & Poor’s 500 (SPX500) slightly edged up by 0.05% to 5315.8.
- Nasdaq (NAS100) narrowly gained by 0.05% to 18684.852.
- Dow Jones Industrial Average (USA30) slightly edged up by 0.04% to 39858.0.
Energy Markets
Crude Oil Futures Lost Ground
In the energy space, oil futures trade is weak today. The Brent Crude Futures were trading at 83.071, down 0.48%, and the WTI Crude Futures were trading at 78.765, down 0.55%.
Spot Prices Dipped
- Brent Crude (UKOIL) experienced a moderate dip of 0.59% to $82.98 a barrel.
- WTI Crude (OIL) followed suit to dip 0.56% to $78.685 a barrel.
- Natural Gas (NATGAS) also slightly declined by 0.19% to $2.884/MMBtu.
Precious Metals
- Gold (XAUUSD) slipped 0.49% to 2414.543.
- Silver (XAGUSD) declined 1.3% to 31.404.
To Summarize
The Morning Digest presents details of how global markets start the day on a cautious note at the morning bell. The article covers the status of forex, global indices, and commodities. Yet, this is just the beginning of the day. So, stay tuned as we present the latest financial updates as the trading day unfolds.
