Morning Digest: Mixed Signals with Commodities Gaining Ground

Published on: Mar 13, 2024|2 min read

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London: 13 March 2024 (TraderMade): Financial markets exhibit a mixed bag of performances today. Let's dive into the latest updates across currencies, equities, and commodities.

Key Takeaways

In G10 Forex, NZD and AUD are up against the dollar by 0.22% and 0.11%, respectively. CHF and CAD are the top laggers for the day.
Global indices are mixed, with Asia's Hang Seng up by 0.9% and Nikkei dipped 1.26%. European and US indices trade flat, awaiting direction.
Crude Oil and Natural Gas prices surged, while precious metals are trading flat.

Forex

The New Zealand Dollar (NZD—at 0.61633, up by 0.22%) and the Australian Dollar (AUD—at 0.66139, up by 0.11%) climbed to the top of the gainers' board.

The Swiss Franc (CHF—at 0.87809, down 0.09%) and Canadian Dollar (CAD—at 1.34951, down 0.02%) experienced slight declines.

AUDUSD Chart

Asian stock markets displayed contrasting trends. The Hang Seng index in Hong Kong (HKG33) surged 0.9%, reaching 17197.0. Conversely, the Nikkei 225 in Japan (JPN225) dipped by 1.26%, closing at 38709.0.

Europe Flat

Significant European indices await clear direction:

The UK's FTSE 100 (UK100) trades at 7773.5.
France's CAC 40 (FRA40) trades at 8103.6.
Germany's DAX 30 (GER30) trades at 18027.

US Equity Futures Remain Steady

US stock market futures are also taking a wait-and-see approach. The S&P 500 Futures is currently flat, hovering around 5182.5996.

Standard & Poor's 500 (SPX 500) trades flat at 5182.0996.
Nasdaq (NAS100) was at 18236.8.
Dow Jones Industrial Average (USA30) trades at 39062.

Oil Prices Heat Up

The energy sector witnessed a positive trend, with oil futures trading firm. West Texas Intermediate (WTI) Crude Futures climbed 0.22% to reach 77.856, while Brent Crude Futures edged up by 0.15%, settling at 82.234.

Brent Crude (UKOIL) surged 0.16% to $ 82.235 a barrel.
WTI Crude (OIL) edged up by 0.19% to $77.876 a barrel.
Natural Gas (NATGAS) increased by 0.895% to $1.8035/MMBtu.

Precious Metals Trade Flat

Gold (XAUUSD) trades at 2159.24.
Silver (XAGUSD) trades at 24.159.
Platinum (XPTUSD) trades at 927.05005.

_{Please note that the live prices are at about 06:12 AM GMT - Compared to yesterday's close.}

To Summarize

Global markets are currently showcasing a mix of cautious optimism and wait-and-see sentiment. Currencies exhibit some movement, with the New Zealand and Australian dollars strengthening against the US dollar.

Asian equities display contrasting performances, while European markets await direction. Oil prices, however, buck the trend and experience a slight uptick. Stay tuned for further updates throughout the trading day.