Morning Digest: Mixed Bag with Dollar and Yen Gains

London: 16 April 2024 (TraderMade): The global markets paint a mixed mosaic to begin the day. The strengthening US dollar and Iran's attack on Israel have kept the markets on the edge today. Global indices take a breather today, while crude oil and natural gas picked up. Let's dive deeper:

Key Takeaways

• Forex: In G10 forex, the US Dollar and Yen shine while the Aussie (dips 0.23%) and Swedish Krona (dips 0.18%) decline against the dollar.
• Asia: Asian markets weakened with Nikkei (JPN225) dipping 0.22% and HAng Seng (HKG33) dipping 0.51%.
• Europe: Major European indices: FTSE 100 (UK100), CAC 40 (FRA40), and DAX 30 (GER30) dip over 0.5%.
• US: Significant US indices SPX500, Nasdaq 100, and Dow Jones dipped by about 0.15%.
• Energy: Brent Crude and WTI Crude edged up by over 0.1%, while Natural Gas surged by 0.63%.
• Precious Metals: Gold gained slightly, yet Silver declined significantly.

Forex

USD and JPY are top gainers in G10 Forex Today

In the G10 FX Market, the US Dollar (USD) and Japanese Yen (JPY) lead the pack today as they gain against other major currencies.

AUD and SEK are top laggers

The Australian Dollar (AUD - down 0.23%) and Swedish Krona (SEK - down 0.18%) are the top losers versus the dollar.

Forex Daily Pivot Points

Global Indices

Asian Markets

Today, Asian equities markets are weak. The Hang Seng was trading at 16311.0, down 0.51%, and the Nikkei 225 was trading at 38601.0, down 0.22%. Middle-East tensions are making the Asian indices tumble.

European Indices Dip

Adverse market sentiment due to the fresh Iran-Israel conflict drives European stocks towards a downward trend.

• The UK's FTSE 100 (UK100) trades at 7880.7, declining 0.63%.
• France's CAC 40 (FRA40) trades at 7933.8, dipping 0.82%.
• Germany's DAX 30 (GER30) trades at 17847.5, sliding 0.58%.

US Equities Futures Dip

Looking at Equity Futures so far, The SP500 Futures was trading at 5060.7002, down 0.06%.

Popular US Indices Slip

Middle-East tensions and treasury yields kept US indices at a low.

• Standard & Poor's 500 (SPX500) slipped 0.14% to 5055.7.
• Nasdaq (NAS100) dipped 0.14% to 17700.25.
• Dow Jones Industrial Average (USA30) dipped 0.16% to 37699.

Energy Markets

Crude Oil Futures

In the energy space, the oil futures trade is stronger today. The Brent Crude Futures were trading at 90.089, up 0.34%, and the WTI Crude Futures were trading at 85.471, up 0.29%.

Spot Prices Heat Up

• Brent Crude (UKOIL) gained 0.11% to $89.882 a barrel.
• WTI Crude (OIL) surged 0.15% to $85.251 a barrel.
• Natural Gas (NATGAS) surged 0.63% to $1.9095/MMBtu.

Precious Metals Soar

• Gold (XAUUSD) slightly gained to reach 2384.1396.
• Silver (XAGUSD) declined 0.75% to 28.659.

To Summarize

We have a mixed bag at the morning bell today, with the US Dollar and Yen gaining and the Australian Dollar and Swedish Krona losing in the forex space. Asian, European, and US indices lose ground; crude oil picks up a bit while Gold and Silver also gain. Stay tuned to get the latest updates as the trading day unrolls.