Morning Digest: Mixed Start with Commodities Declining

London: 22 May 2024 (TraderMade): Welcome to today’s Morning Digest! The global financial markets painted a mixed mosaic this morning, with commodity currencies like NZD & CAD leading the pack in forex, Hang Seng in Asia, and Wall Street slightly gaining ground.

However, JPY & CHF among currencies, Nikkei, European equities, Energy, and Metals declined. Let’s take a sector-wise glance:

Key Takeaways

• NZD (up 0.48%) and CAD (up 0.09%) gained, while JPY (down 0.11%) and CHF (down 0.07%) declined against the USD in G10 forex today.
• Asia mixed: Nikkei (JPN225) dipped 0.68%, Hang Seng (HKG33) surged 0.31%.
• European indices, including the FTSE (UK100), CAC (FRA40), and DAX (GER30), traded flat at the time of this writing.
• US indices, like S&P 500 (SPX500), Nasdaq (NAS100), and Dow Jones (USA30) slightly surged.
• Energy markets lost ground, as Brent Crude (UKOIL) dipped 0.34%, WTI Crude (OIL) dipped 0.29%, and Natural Gas (NATGAS) lost 1.1%.
• In Precious Metals, Gold (XAUUSD) dipped 0.31%, and Silver (XAGUSD) slipped 0.97%.

G10 Forex

NZD & CAD are Top Gainers

In the G10 FX Market, the New Zealand Dollar (NZD: Surged 0.48%) and Canadian Dollar (CAD: Soared 0.09%) are the top gainers today versus the dollar (USD).

JPY and CHF are Top Laggers

The Japanese Yen (JPY: Dipped 0.11%) and Swiss Francs (CHF: Dipped 0.07%) are the top losers versus the dollar (USD), respectively.

Forex Daily Pivot Points

Global Indices Mixed

Asian Markets Mixed

In Asian equities, markets were trading mixed today. The Hang Seng (HKG33) was trading at 19321.5, up 0.31%. The Nikkei (JPN225) was trading at 38624.0, down 0.68%.

European Indices Flat

• The UK’s FTSE 100 (UK100) trades flat at 8427.3.
• France’s CAC 40 (FRA40) trades flat at 8155.8.
• Germany’s DAX 30 (GER30) trades flat at 18746.9.

US Equities Futures Slightly Dipped

Looking at Equity Futures so far, The SP500 Futures was trading at 5328.8496, down 0.02%.

Popular US Indices Slightly Surged

• Standard & Poor’s 500 (SPX500) slightly edged up by 0.05% to 5329.1.
• Nasdaq (NAS100) narrowly surged by 0.10% to 18750.5.
• Dow Jones Industrial Average (USA30) slightly edged up by 0.04% to 39917.

Energy Markets Lost Ground

Crude Oil Futures Dipped

In the energy space, oil futures trade is weak today. The Brent Crude Futures were trading at 82.131, down 0.32%, and the WTI Crude Futures were trading at 77.941, down 0.38%.

Spot Prices Dipped

• Brent Crude (UKOIL) dipped 0.34% to $82.103 a barrel.
• WTI Crude (OIL) slipped 0.29% to $77.92 a barrel.
• Natural Gas (NATGAS) plummeted 1.1% to $2.798/MMBtu.

Precious Metals Losing Shine

• Gold (XAUUSD) dipped 0.31% to 2413.4705.
• Silver (XAGUSD) slipped 0.97% to 31.6815.

To Summarize

The global markets looked mixed at the morning bell today. A few currencies, Nikkei, and US indices slightly surged, yet European markets traded flat, and energy and Metals declined. Stay updated through our latest financial news as the trading day progresses.