Morning Digest: Currency Rollercoaster and Mixed Bag in Equities

London: 20 March 2024 (TraderMade): Global markets on edge ahead of Fed decision! Buckle up for a quick currency rollercoaster and a mixed bag in equities.

Key Takeaways

• The dollar and Euro shine, Yen and Kiwi decline against the dollar in G10 Forex today.
• The Asian market is mixed in equities and indices, with the Nikkei up and Hang Seng down by 0.31% each; European and US indices trade flat, with Nasdaq losing ground.
• Crude oil prices slightly edged up, while precious metals like Gold and Silver are slightly down.

Forex

USD and EUR are top gainers in G10 Forex Today

The US Dollar and Euro gained against other major currencies ahead of the Fed's monetary policy decision scheduled for this evening.

JPY and NZD are top laggers

The Japanese Yen (JPY) lost 0.46% (it is currently trading at 151.52), and the New Zealand Dollar (NZD) declined 0.21% against the dollar (it is currently trading at 0.60415).

Forex Daily Pivot Points

Global Indices

Asian Markets Mixed

In Asian equities, markets were trading mixed today. The Nikkei (JPN225) was trading at 40278.5, up 0.31%. The Hang Seng (HKG33) was trading at 16549.25, down 0.31%.

European Indices Flat

• The UK's FTSE 100 (UK100) trades at 7754.9.
• France's CAC 40 (FRA40) trades at 8165.25.
• Germany's DAX 30 (GER30) trades at 18061.9.

US Equities Futures

Looking at Equity Futures so far,The SP500 Futures was trading at 5178.8496, down 0.04%.

Popular US Indices Slip

• Standard & Poor's 500 (SPX500) trades flat at 5179.5996.
• Nasdaq (NAS100) declined 0.14% to 18023.95.
• Dow Jones Industrial Average (USA30) trades flat at 39149.

Energy Markets

Crude Oil Futures

In the Energy space, Oil futures were trading mixed today. The WTI Crude Futures was trading at 82.422, up 0.06%. The Brent Crude Futures was trading at 86.576, down -0.01%.

Spot Prices Steady

• Brent Crude (UKOIL) was slightly up by 0.07% to $86.646 a barrel.
• WTI Crude (OIL) edged up slightly by 0.05% to $82.48199 a barrel.
• Natural Gas (NATGAS) soared 0.96% to $1.895/MMBtu.

Precious Metals

• Gold (XAUUSD) slightly declined to 2157.21.
• Silver (XAGUSD) slightly declined to 24.9025.

To Summarize

The dollar and Euro flex their muscles ahead of the Fed meeting while the Yen and Kiwi take a breather. Asian stocks see mixed results, with European markets waiting their turn. Oil prices stay flat, but natural gas ignites. Gold and Silver take a small dip.

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