Morning Digest: Mixed Start with Commodities Dipping

London: 23 May 2024 (TraderMade): Welcome to today's Morning Digest! The global financial markets threw a mixed mosaic this morning.

Commodity-based currencies, like NZD & AUD, shine in forex. Wall Street sees modest gains post FOMC Meeting Minutes. However, Energy & Metals slipped. Let's take you through the sector-wise updates:

Key Takeaways

• Forex: NZD (Up 0.37%) & AUD (Up 0.15%) gain, while EUR & USD lag.
• Asia-Pacific Mixed: Nikkei (JPN225) was up 0.49%, Hang Seng (HKG33) was down 0.79%.
• European Indices Unchanged: FTSE (UK100), CAC (FRA40), and DAX (GER30) traded flat.
• US Markets Surged: S&P 500 (SPX500) was up 0.51%, NAsdaq (NAS100) was up 0.73%, and Dow Jones (USA30) was up 0.27%.
• Energy Markets Dipped: Brent Crude (UKOIL) dipped 0.25%, WTI Crude (OIL) slipped 0.33%, yet Natural Gas (NATGAS) soared 0.53%.
• Precious Metals Declined: Gold (XAUUSD) dipped 0.26%, while Silver (XAGUSD) plummeted by 0.88%.

G10 Forex

NZD & AUD are Top Gainers

In the G10 FX Market, the New Zealand Dollar (NZD: Surged 0.37%) and Australian Dollar (AUD: Up 0.15%) are the top gainers today versus the dollar (USD).

EUR & USD are Top Laggers

The Euro (EUR) and the US Dollar (USD) are today's top losers, as they declined against the other major currencies.

Forex Daily Pivot Points

Global Indices Mixed

Asian Markets Mixed

Asian equities markets were mixed today. The Nikkei (JPN225) was trading at 39082.0, up 0.49%. The Hang Seng (HKG33) was trading at 18911.0, down 0.79%.

European Indices Flat

• The UK's FTSE 100 (UK100) trades flat at 8367.
• France's CAC 40 (FRA40) trades flat at 8100.8.
• Germany's DAX 30 (GER30) trades flat at 18666.488.

US Equities Futures Edged Up

Looking at Equity Futures so far, The SP500 Futures was trading at 5342.0996, up 0.31%.

Popular US Indices Surged

• Standard & Poor's 500 (SPX500) surged 0.51% to 5342.3496.
• Nasdaq (NAS100) soared 0.73% to 18894.
• Dow Jones Industrial Average (USA30) followed suit to gain 0.27% to 39747.

Energy Markets Dipped

Crude Oil Futures Weakened

In the energy space, oil futures trade is weaker today. The WTI Crude Futures was trading at 76.942, down 0.18%. The Brent Crude Futures was trading at 81.24, down 0.25%.

Oil Spot Prices Slipped, NATGAS Surged

• Brent Crude (UKOIL) dipped 0.25% to $81.244 a barrel.
• WTI Crude (OIL) slipped 0.33% to $76.942 a barrel.
• Natural Gas (NATGAS) surged 0.53% to $3.0255/MMBtu.

Precious Metals Lost Shine

• Gold (XAUUSD) slipped 0.26% to 2372.4456.
• Silver (XAGUSD) dipped significantly by 0.88% to 30.525.

To Summarize

This Morning Digest covers the status of the most followed financial instruments at the morning bell. We intend to provide a quick overview of forex, stocks, and commodities to help you fine-tune your trading strategies by staying informed. Stay with us for more updates as the trading day progresses.

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