Morning Digest: Mixed Bag with JPY, CHF, & Wall Street Gains

London: 16 May 2024 (TraderMade): Welcome to today’s Morning Digest! The global financial markets painted a mixed picture this morning, with JPY & CHF gaining and AUD & CAD declining against the USD. Asian and European indices were mixed, yet US indices surged.

Similarly, Brent, WTI, and Natural Gas maintained their upward trend; Gold & Silver shone. Here are the sector-wise details:

Key Takeaways

• JPY and CHF led the pack, gaining 0.62% and 0.17%, respectively, while AUD and CAD dipped 0.15% and 0.04% versus the dollar in G10 forex today.
• In Asia, Nikkei (JPN225) surged 0.14%, and Hang Seng (HKG33) traded flat.
• European indices were mixed: The FTSE (UK100) slightly dipped, the CAC (FRA40) traded flat, and the DAX (GER30) surged 0.54%.
• US indices surged: S&P 500 (SPX500) soared 0.2%, Nasdaq (NAS100) surged 0.19%, and Dow Jones (USA30) slightly edged up.
• Energy markets heated up: Brent Crude (UKOIL) soared 0.19%, WTI Crude (OIL) surged 0.7%, and Natural Gas (NATGAS) made modest gains by gaining 3.44%.
• Among Precious Metals, Gold gained 1.43%, and Silver surged 3.44%.

G10 Forex

JPY and CHF are Top Gainers

In the G10 FX Market, Japanese Yen (JPY: up 0.62%) and Swiss Francs (CHF: surged 0.17%) are the top gainers today versus the dollar.

AUD and CAD are Top Laggers

The Australian Dollar (AUD: down 0.15%) and Canadian Dollar (CAD: dipped 0.04%) are the top losers versus the dollar.

Forex Daily Pivot Points

Global Indices Mixed

Asian Markets Mixed

Asian equities markets were mixed today. The Nikkei (JPN225) was trading at 38806.5, up 0.14%, while the Hang Seng (HKG33) was trading flat at 19453.0.

European Indices Mixed

• The UK’s FTSE 100 (UK100) trades flat at 8449.1.
• France’s CAC 40 (FRA40) slightly dipped to 8240.
• Germany’s DAX 30 (GER30) surged 0.53% to 18899.488.

US Equities Futures Slightly Edged Up

Looking at Equity Futures so far, The SP500 Futures was trading at 5320.2002, up 0.07%.

Popular US Indices Soared

• Standard & Poor’s 500 (SPX500) soared 0.2% to 5319.7.
• Nasdaq (NAS100) surged 0.19% to 18646.898.
• Dow Jones Industrial Average (USA30) slightly edged up to 39981.

Energy Markets

Crude Oil Futures Strengthened

In the energy space, the oil futures trade is stronger today. The Brent Crude Futures were trading at 82.881, up 0.23%, and the WTI Crude Futures were trading at 78.614, up 0.16%.

Spot Prices Spiked

• Brent Crude (UKOIL) soared 0.19% to $82.85 a barrel.
• WTI Crude (OIL) surged 0.7% to $78.58901 a barrel.
• Natural Gas (NATGAS) made modest gains by surging 2.94% to $2.5915 /MMBtu.

Precious Metals

• Gold (XAUUSD) surged 1.43% to 2391.945.
• Silver (XAGUSD) soared 3.44% to 29.575.

To Summarize

At the morning bell, the global financial markets were mixed, with JPY and CHF gaining and AUD and CAD dipping against the USD. Global indices were mixed, with US indices making modest gains. Similarly, among commodities, crude oil, natural gas, gold, and silver maintained their upward momentum.

This is just the beginning. The markets may react to the US inflation rate declared yesterday, and Australia’s Unemployment Rate declared early this morning. Stay tuned for the latest financial updates and insights.