Morning Digest: Cautious Start with Kiwi & Greenback Gains
London: 7 May 2024 (TraderMade): Welcome to today’s Morning Digest! Let’s delve into what various sectors indicate by the morning bell today. Kiwi and Greenback stretched their muscles in G10 forex, yet the picture is cautious and mostly pessimistic in other financial markets today. Let’s have a look in detail:
Key Takeaways
- NZD & USD gained, while JPY (down 0.41%) & AUD (down 0.3%) are top laggers in G10 forex.
- Asian markets slipped: Nikkei (JPN225) declined 0.57%, and Hang Seng (HKG33) dipped 0.37%.
- European indices, like FTSE, CAC & DAX; US indices, like S&P 500, Nasdaq 100, and Dow Jones, all trade mostly flat today.
- Energy markets dipped: Brent declined 0.11%, WTI Crude dipped 0.14%, while Natural Gas plummeted 0.69% today.
- Precious metals lost shine: Gold dipped 0.16%, Silver plummeted 0.69%.
G10 Forex
NZD and USD are Top Gainers Today
In the G10 FX Market, the New Zealand Dollar (NZD) and US Dollar (USD) are the top gainers today, as they declined against the other major currencies.
JPY and AUD are Top Laggers
The Japanese Yen (JPY: dipped 0.41%) and the Australian Dollar (AUD: slipped 0.3%) are the top losers versus the dollar, respectively.
Forex Daily Pivot Points
Global Indices Mostly Flat
Asian Markets Dipped
Today, Asian equities markets are weak. The Hang Seng was trading at 18509.0, down 0.37%, and the Nikkei 225 was trading at 38761.5, down 0.57%.
European Indices Flat
- The UK’s FTSE 100 (UK100) was closed for a holiday and currently trades at 8316.801.
- France’s CAC 40 (FRA40) slightly dipped by 0.07% to 8019.2.
- Germany’s DAX 30 (GER30) trades flat at 18249.
US Equities Futures Slightly Edged Up
Looking at Equity Futures so far, The SP500 Futures was trading at 5184.0498, up 0.03%.
Popular US Indices Flat
- Standard & Poor’s 500 (SPX500) trades flat at 5184.3.
- Nasdaq (NAS100) trades flat at 18091.
- Dow Jones Industrial Average (USA30) trades flat at 38894.
Energy Markets Down
Crude Oil Futures Slipped
In the energy space, oil futures trade is weaker today. The Brent Crude Futures was trading at 83.327, down 0.03%. The WTI Crude Futures was trading at 78.441, down 0.25%.
Spot Prices Declined
- Brent Crude (UKOIL) dipped 0.11% to $83.258 a barrel.
- WTI Crude (OIL) slipped 0.14% to $78.358 a barrel.
- Natural Gas (NATGAS) slipped 0.69% to $2.315/MMBtu.
Precious Metals Dipped
- Gold (XAUUSD) dipped 0.16% to 2320.44.
- Silver (XAGUSD) slipped 0.69% to 27.258.
To Summarize
The global financial markets painted a mixed and cautious mosaic this morning. The Yen continued its downward trend (Japan warns against Yen depreciation), and global indices were mostly flat or down. Commodities like crude oil, natural gas, gold, and Silver lost their shine. Stay tuned for further updates as the trading day unfolds.
