Morning Digest: Mixed Start - Dollar and Oil Edge Higher

London: 13 February 2024 (TraderMade): Global markets show mixed signals with the US Dollar and Crude Oil up. Let's dissect the early whispers of the global markets to prepare for your trading day.

Global markets open mixed: USD & Oil up, Asian equities mixed, European indices wait & watch.

Key Takeaways

• The US Dollar strengthens across the G10 currencies.
• Asian equity markets show mixed performance.
• European indices open flat, mirroring global caution.
• US futures hint at a possible slight decline at the opening bell.
• Oil prices edge higher, indicating potential upward momentum.

Currencies

Greenback Gains Ground

The US Dollar reigns supreme today, climbing against most currencies. Among the G10, the Norwegian Krone (NOK) joins the Dollar in its ascent, while the New Zealand Dollar (NZD) and Australian Dollar (AUD) feel the heat, falling the most versus the USD.

Yen Stays Subdued

The Japanese Yen remains relatively flat, reflecting a cautious market mood despite the Nikkei index's modest rise.

Equities

Asia Paints a Mixed Picture

The Nikkei 225 in Japan enjoys a positive start (up 1.84% to 38128.5), while the Hang Seng in Hong Kong treads water.

Europe Waits and Watches

European indices open with a wait-and-see approach. The UK’s FTSE 100 (UK100) trades flat at 7602.5; France’s CAC 40 (FRA40) trades flat at 7680.6; Germany’s DAX 30 (GER30) follows suit by trading flat at 17015.602.

US Futures Hint at Slight Dip, Yet Indices Shine

S&P 500 futures indicated a potential minor decline (trading at 5018.7998, down -0.02%) for the US market (opening later today).

Popular US indices indicate an optimistic start:

• The Standard & Poor’s 500 (SPX500) is slightly up by 0.02% to 5021.
• Nasdaq 100 (NAS100) edged up 0.15% to 17892.5.
• Dow Jones Industrial Average (USA30) was higher by 0.01% to 38804.

Commodities

Oil Prices Gain Traction

WTI Crude and Brent Crude futures climb slightly, suggesting a potential uptick in energy prices.

• Brent Crude (UKOIL) surged 0.14% to $81.826 a barrel.
• WTI Crude (OIL) soared 0.21% to $77 a barrel.
• However, Natural Gas (NATGAS) plummeted 0.22% to $1.795/MMBtu.

_{Please note that live rates are taken at 06:14 AM GMT - compared to yesterday’s Close values.}

Summary

The global markets exhibit a mixed bag today. While the US Dollar flexes its muscles and oil prices inch upwards, equity markets present a picture of cautiousness. Keep your eyes peeled for further developments as the trading day unfolds!