Morning Digest: Markets Paint A Mixed Picture

Published on: Jan 15, 2024|2 min read

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London: 15 January 2024 (TraderMade): A tale of two continents unfolds today in global markets. In currencies - the European charge is led by NOK and SEK, while JPY and NZD take a tumble.

Europe's significant indices take a breather, Asia paints a contrasting picture, with Japan soaring and Hong Kong cooling. Will this divergence continue, or is a unified direction on the horizon? Dive into the day's market action and find out!

Forex

In the currency arena, the European contingent is flexing its muscles today. The Norwegian krone (NOK) and Swedish krona (SEK) lead the charge against the mighty dollar, rising around 0.15% in a show of strength.

On the other side of the coin, the Japanese yen (JPY) and New Zealand dollar (NZD) find themselves on the losing end, surrendering around 0.2% apiece to the greenback's dominance.

Asian Equities: A Tale of Two Markets

Asia's stock markets present a contrasting picture today. The Land of the Rising Sun beams - with optimism as - the Nikkei 225 soars over 1%, fueled by positive sentiment. However, across the border in Hong Kong, the Hang Seng dips slightly, taking a breather after its recent rally.

US Markets

Wall Street could see a green open, with:

S&P 500 (SPX50) up over 0.13% to 4784.95.
Nasdaq 100 (NAS100) is also up by 0.2% to 16870.05.
Dow Jones Industrial Average (USA30) also slightly rose by 0.08% to 37601.

Note: Rates taken at about 07:52 AM GMT - compared to Friday, 12 January Close.

Europe Stands Still: Equities Tread Water

Across the Atlantic, Europe's major indices seem content to tread water. The German DAX, French CAC 40, and British FTSE 100 all hover near their opening levels, reflecting a cautious mood among investors.

UK’s FTSE 100 (UK100) declined slightly by 0.029 to 7647.7
France’s CAC 400 (FRA40) dipped 0.027% to 7468.4
Germany’s DAX (GER30) improved by 0.011% to 16742.7.

Crude Conundrum: WTI Pushes Higher, Brent Steady

The energy market paints a mixed picture, with oil prices diverging. West Texas Intermediate (WTI) edges up marginally, defying broader weakness. It was at $72.863/barrel at about 08:07 AM GMT.

Brent crude (UKOIL) was at $72.863/ barrel, slightly up from Friday, 12 January Close.