Morning Digest: Mixed & Cautious Start

London: 14 May 2024 (TraderMade): Welcome to today's Morning Digest! The global markets showcase a mixed and cautious picture ahead of tomorrow's US CPI data release.

USD & NZD gained while JPY & AUD declined in forex; global indices are mostly down or flat; Energy markets were down, while Precious Metals made modest gains today. Let's take you through sector-wise details:

Key Takeaways

• In G10 forex, USD & NZD shine, JPY (down 0.12%) and AUD (down 0.09%) decline versus the dollar today.
• Asia Slipped: Nikkei (JPN225) narrowly declined by 0.01%, yet Hang Seng (HKG33) dipped 0.59% today.
• European indices, like FTSE (UK100), CAC (FRA40), and DAX (GER30) trade flat today.
• US indices, including S&P 500 (SPX500), Nasdaq (NAS100), and Dow Jones (USA30) trade flat.
• In the Energy space, Brent Crude (UKOIL) and WTI Crude (OIL) trade flat, while Natural Gas (NATGAS) dipped 0.2% today.
• Among Precious Metals, Gold (XAUUSD) surged 0.28%, while Silver (XAGUSD) slightly edged up by 0.07%.

G10 Forex

USD and NZD are Top Gainers

In the G10 FX Market, the US Dollar (USD) and New Zealand Dollar (NZD) are today's top gainers, as they gained against the other major currencies.

JPY and AUD are Top Laggers

Japanese Yen (JPY: Dipped 0.12%) and Australian Dollar (AUD: Slipped 0.09%) are the top losers versus the dollar, respectively.

Forex Daily Pivot Points

Global Indices Mostly Unchanged

Asian Markets Declined

Today, Asian equities markets are weak. The Nikkei 225 was trading at 38236.5, down 0.01%, and the Hang Seng was trading at 19128.0, down 0.59%.

European Indices Flat

• The UK's FTSE 100 (UK100) trades flat at 8415.4.
• France's CAC 40 (FRA40) trades flat at 8212.
• Germany's DAX 30 (GER30) trades flat at 18754.5.

US Equities Futures Slipped

Looking at Equity Futures so far, The SP500 Futures was trading at 5223.4004, down 0.01%.

Popular US Indices Mixed (Almost Flat)

• Standard & Poor's 500 (SPX500) slightly edged up by 0.05% to 5224.9004.
• Nasdaq (NAS100) trades flat at 18203.102.
• Dow Jones Industrial Average (USA30) narrowly slipped by 0.02% to 39476.

Energy Markets

Crude Oil Futures Strengthened

In the energy space, the oil futures trade is stronger today. The WTI Crude Futures was trading at 78.804, up 0.18%, and the Brent Crude Futures was trading at 83.226, up 0.05%.

Spot Prices Flat

• Brent Crude (UKOIL) trades flat at $83.168 a barrel.
• WTI Crude (OIL) trades flat at $78.729 a barrel.
• Natural Gas (NATGAS) slipped 0.2% to $2.509/MMBtu.

Precious Metals

• Gold (XAUUSD) surged 0.28% to 2342.635.
• Silver (XAGUSD) slightly edged up by 0.07% to 28.3925.

To Summarize

The global financial markets look cautious at the morning bell as market participants eagerly await the US CPI data release tomorrow. USD and NZD gained in forex, and gold and silver strengthened in the Precious Metals market.

Yet global indices and crude oil remain largely unchanged due to the wait-and-see stance. Stay tuned for further updates as the trading day unfolds.

_{Image courtesy: creativeart at freepik}