Morning Digest: Mixed Bag with NZD, NOK & Gold Gain
London: 10 April 2024 (TraderMade): The global markets paint a mixed mosaic this morning, with major currencies like Aussie and Euro dipping against the dollar. Global indices mostly remain flat as the markets await US CPI data and interest rate decisions by the BoC and ECB later this week. Here is a quick rundown:
Key Takeaways
- NZD (up 0.24%) & NOK (up 0.1%) shine while AUD (down 0.07%) and EUR (down 0.03%) decline against the dollar.
- Asian equities were mixed today, with Nikkei declining 0.08% and Hang Seng surging 1.44%.
- European markets closed higher yesterday due to central bank decisions awaited this week, yet significant indices trade flat at writing time.
- Crucial US indices trade flat ahead of CPI data.
- Crude oil slightly edges up, while Gold gains significantly.
Forex
NZD and NOK are top gainers in G10 Forex Today
In the G10 FX Market, the New Zealand Dollar (NZD) and Norwegian Krone (NOK) are the top gainers today, up 0.24% and 0.1% versus the dollar.
NZDUSD currently trades at 0.60688.
USDNOK currently trades at 10.67174.
AUD and EUR are top laggers
The Australian Dollar (AUD) and Euro (EUR) are the top losers, down 0.07% and 0.03% versus the dollar, respectively.
AUDUSD currently trades at 0.66202.
EURUSD currently trades at 1.08515.
Forex Daily Pivot Points
Global Indices
Asian Markets Mixed
In Asian equities, markets were trading mixed today. The Hang Seng (HKG33) was trading at 17135.75, up 1.44%. The Nikkei 225 (JPN225) was trading at 39586.0, down 0.08%.
An unexpected rise in Japan’s corporate inflation causes Nikkei’s decline.
European Indices Flat
- The UK’s FTSE 100 (UK100) trades at 7999.95.
- France’s CAC 40 (FRA40) trades at 8091.85.
- Germany’s DAX 30 (GER30) trades at 18208.8.
However, European markets closed higher yesterday, as this is a busy week with significant central banks’ actions awaited.
US Equities Futures
Looking at Equity Futures so far, The SP500 Futures was trading at 5221.0498, up 0.04%.
Popular US Indices
- Standard & Poor’s 500 (SPX500) trades flat at 5220.0996.
- Nasdaq (NAS100) trades flat at 18209.852.
- Dow Jones Industrial Average (USA30) trades flat at 38950.
As the market participants await US CPI data, crucial US indices traded flat.
Energy Markets
Crude Oil Futures
In the energy space, the oil futures trade is stronger today. The WTI Crude Futures was trading at 84.782, up 0.11%, and the Brent Crude Futures was trading at 89.094.
Considerably bearish US data and surging US crude oil inventories push the crude oil prices a bit higher.
Spot Prices
- Brent Crude (UKOIL) slightly ticked up by 0.04% to $89.125 a barrel.
- WTI Crude (OIL) narrowly edged up by 0.05% to $84.78799 a barrel.
- Natural Gas (NATGAS) surged 0.94% to $2.0335/MMBtu.
Precious Metals
Continuous momentum, turbulence in the Middle East, and other geopolitical factors have consistently kept Gold on a high for the last few weeks.
- Gold (XAUUSD) surged 0.29% to 2359.76.
- Silver (XAGUSD) dipped 0.11% to 28.1855.
To Summarize
The global financial markets are mixed today, with NZD and NOK gaining, indices mostly flat as the market awaits crucial data, crude oil slightly up and Gold making modest gains. Stay tuned for updates as the trading day unfolds.
