Morning Digest: Mixed Signals Amidst Gains
London: 18 March 2024 (TraderMade): Financial markets show a mixed picture this morning. While the Norwegian Krone and New Zealand Dollar strengthen against the US Dollar, Asian and US equities climb. Oil prices continue their surprising surge, but gold and silver lose some ground.
Key Takeaways
- NOK and NZD are the top gainers in G10 forex, surging 0.11% and 0.22%, respectively, against the US Dollar, while JPY and GBP are the top losers, down by 0.03% each against the dollar.
- Asian and US equities and indices gain, while European indices trade flat, awaiting direction.
- Oil prices surge, while precious metals, like gold and silver, lose shine.
Forex
NZD and NOK are Top Gainers in G10 Forex Today
The New Zealand Dollar (NZD) gained 0.11% (Currently trading at 0.60932), and the Norwegian Krone (NOK) gained 0.22% against the dollar (Currently trading at 10.6084).
JPY and GBP are Top Losers
The Japanese Yen (JPY) lost 0.03% (it is currently trading at 149.1245), and the British Pound Sterling (GBP) lost 0.03% against the dollar (it is currently trading at 1.27324).
Forex Daily Pivot Points
Global Indices
Asian Markets
In Asian equities, markets were trading steady today. The Nikkei 225 (JPN225) was trading at 39682.5, up 1.66%. The Hang Seng (HKG33) was trading at 16750.0, up 0.18%.
European Indices Flat
European equities were trading flat today, awaiting clear direction.
- The UK’s FTSE 100 (UK100) trades at 7753.6.
- France’s CAC 40 (FRA40) trades at 8192.6.
- Germany’s DAX 30 (GER30) trades at 18037.9.
US Equities Futures
Looking at Equity Futures so far, The SP500 Futures was trading at 5139.7998, up 0.22%.
Popular US Indices
- Standard & Poor’s 500 (SPX500) surged 0.32% to 5140.8.
- Nasdaq (NAS100) soared 0.52% to 17931.
- Dow Jones Industrial Average (USA30) picked up by 0.16% to 38802.
Energy Markets
Crude Oil Futures
In the Energy space, Oil futures were firm today. The WTI Crude Futures were trading at 80.911, up 0.42%, and the Brent Crude Futures were trading at 85.193, up 0.37%.
Spot Prices
- Brent Crude (UKOIL) edged up by 0.37% to $85.189 a barrel.
- WTI Crude (OIL) surged by 0.46% to $80.912 a barrel.
- Natural Gas (NATGAS) surged 3.69% to $1.855/MMBtu.
Precious Metals
- Gold (XAUUSD) dipped 0.41% to 2147.435.
- Silver (XAGUSD) was down 0.6% to 25.03.
To Summarize
The day opens with mixed signals. The US Dollar strengthens against the Yen and Pound, and Asian and US stocks gain ground. Oil prices continue to defy expectations with another surge, but gold and silver lose some shine. Keep a close eye on the latest updates in the financial landscape as the trading day progresses.
