Morning Digest: Mixed Bag with Commodities Shining

London: 6 June 2024 (TraderMade): Welcome to today’s Morning Digest! The global financial markets paint a mixed mosaic this morning, with CHF & AUD leading the pack in forex, yet USD is losing ground against the other major currencies. Global stocks are mostly flat or down. However, the Energy and Metal sectors gained momentum. Let’s deep dive into sector-wise details:

Key Takeaways

• Forex: CHF (up 0.26%) & AUD (up 0.21%) surged, while NZD & USD declined.
• Asia-Pacific Dipped: Nikkei (JPN225) was down 0.62%, Hang Seng (HKG33) was down 0.59%.
• European Indices Flat: FTSE (UK100), CAC (FRA40), and DAX (GER30) traded flat at writing time.
• US Markets: S&P 500 (SPX500), Nasdaq (NAS100), and Dow Jones (USA30) were almost unchanged at writing time.
• Energy Markets Surged: Brent Crude (UKOIL) surged 0.14%, WTI Crude (OIL) soared 0.18%, and Natural Gas (NATGAS) edged up 0.25%.
• Precious Metals Gained Glimmer: Gold (XAUUSD) surged 0.5%, while Silver (XAGUSD) made modest gains of 1.46% today.

G10 Forex

CHF & AUD are Top Gainers

In the G10 FX Market, the Swiss Francs (CHF: up 0.26%) and the Australian Dollar (AUD: up 0.21%) are the top gainers today versus the dollar (USD).

NZD & USD are Top Laggers

The New Zealand Dollar (NZD) and the US Dollar (USD) are the top losers, as they declined against the other major currencies today.

Forex Daily Pivot Points

Global Indices Flat or Dipped

Asian Markets Dipped

In Asian equities, markets were trading weak today. The Hang Seng (HKG33) was trading at 18361.0, down 0.59%. The Nikkei (JPN225) was trading at 38766.0, down 0.62%.

European Indices Flat

• The UK’s FTSE 100 (UK100) trades flat at 8274.2.
• France’s CAC 40 (FRA40) trades flat at 8026.4.
• Germany’s DAX 30 (GER30) trades flat at 18635.4.

US Equities Futures Slightly Down

Looking at Equity Futures so far, The SP500 Futures was trading at 5358.25, down 0.07%.

Popular US Indices Unchanged

• Standard & Poor’s 500 (SPX500) slightly edged up (almost flat) to 5358.1504.
• Nasdaq (NAS100) slightly edged up (almost flat) to 19055.9.
• Dow Jones Industrial Average (USA30) narrowly dipped (almost flat) to 38812.

Energy Markets Heated Up

Crude Oil Futures Strengthened

In the Energy space, Oil futures were trading stronger today. The Brent Crude Futures were trading at 78.66, up 0.18%, and the WTI Crude Futures were trading at 74.255, up 0.07%.

Spot Prices Surged

• Brent Crude (UKOIL) surged 0.14% to $78.63 a barrel.
• WTI Crude (OIL) soared 0.18% to $74.235 a barrel.
• Natural Gas (NATGAS) edged up 0.25% to $2.798/MMBtu.

Precious Metals Gained Shine

• Gold (XAUUSD) soared 0.5% to 2367.1377.
• Silver (XAGUSD) surged 1.46% to 30.4465.

To Summarize

The global financial markets showcase a mixed start at the morning bell. Today’s Morning Digest covers the ups and downs across forex, stocks, and commodity markets to help you get a snapshot of the status of various instruments. Stay with us as we cover more updates as the trading day progresses.

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