Morning Digest: Mixed Mosaic with Commodity Currencies Gaining
London: 17 April 2024 (TraderMade): The global financial markets paint a mixed picture to start the day, with commodity currencies like Kiwi and Aussie gaining. Global stocks, oil and gold, take a breather today mainly due to geopolitical turbulence. Let’s dive deeper into various sectors:
Key Takeaways
- Forex: NZD (up 0.26%) and AUD (up 0.06%) shine today, while NOK (down 0.08%) and GBP (down 0.06%) decline against the dollar.
- Global Equities Dipped: In Asia, Nikkei (JPN225) was down 1.03%, Hang Seng (HKG33) was down 0.26%. European indices, like FTSE 100, CAC 40, and DAX 30 trade flat. US indices also declined.
- Oil & Gold Slipped: Brent and WTI crude oil prices sink by about 0.5%, and gold loses ground. Yet Natural Gas and Silver gain.
Forex
NZD and AUD are top gainers in G10 Forex Today
In the G10 FX Market, the New Zealand Dollar (NZD: up 0.26%) and Australian Dollar (AUD: up 0.06%) are the top gainers today versus the dollar.
NOK and GBP are top laggers
Norwegian Krone (NOK: declined 0.08%) and British Pound Sterling (GBP: declined 0.06%) are the top losers versus the dollar.
Forex Daily Pivot Points
Global Indices
Asian Markets Slipped
In the Asian equities, markets were trading weaker today. The Hang Seng was trading at 16170.0, down 0.26%. The Nikkei 225 was trading at 38243.5, down 1.03%.
European Indices Flat
- The UK’s FTSE 100 (UK100) trades flat at 7839.6.
- France’s CAC 40 (FRA40) trades flat at 7971.3
- Germany’s DAX 30 (GER30) trades at 17813.
US Equities Futures Dipped
Looking at Equity Futures so far, The SP500 Futures was trading at 5063.7998, down 0.1%.
Popular US Indices Down
- Standard & Poor’s 500 (SPX500) slightly declined to 5050.8.
- Nasdaq (NAS100) dipped 0.26% to 17694.5.
- Dow Jones Industrial Average (USA30) slightly declined to 37835.
Energy Markets
Crude Oil Futures Weakened
In the energy space, oil futures trade is weak today. The Brent Crude Futures were trading at 88.956, down 0.45%, and the WTI Crude Futures were trading at 84.32, down 0.68%.
Crude Oil Spot Prices Slipped
- Brent Crude (UKOIL) declined 0.47% to $88.946 a barrel.
- WTI Crude (OIL) plummeted 0.53% to $84.295 a barrel.
- Natural Gas (NATGAS) surged 1.13% to $1.93/MMBtu.
Precious Metals Mixed
- Gold (XAUUSD) dipped 0.26% to 2376.65.
- Silver (XAGUSD) rose by 0.58% to 28.261.
To Summarize
Geopolitical tensions in the Middle East region, recent dollar strength due to Fed rate cut speculations, and a wait-and-see stance of market participants in stocks might be the highlights and the reasons behind the numbers shown at the morning bell. Please stay tuned for updates from across diverse sectors as the trading day progresses.
