Morning Digest: Optimistic Start with Global Indices Gaining
London: 18 April 2024 (TraderMade): The global markets paint an optimistic picture as SEK and NOK gain, global indices edged up, and oil stalled, yet natural gas and precious metals like Gold and silver continued an upward trend. Let’s dive deeper:
Key Takeaways
- SEK (up 0.29%) and NOK (up 0.28%) gained against the dollar, while JPY and USD lost against other major currencies in G10 forex today.
- In Asian equities, Nikkei (JPN225) surged 0.99%, and Hang Seng (HKG33) surged 1.36%.
- Significant European indices like the FTSE 100, CAC 40, and DAX 30 soared by about 0.35% each, and popular US Indices also surged.
- Crude oil took a breather while Natural Gas edged up; Precious Metals like Gold and Silver gained.
Forex
SEK and NOK are top gainers in G10 Forex Today
In the G10 FX Market, Swedish Krona (SEK: up 0.29%) and Norwegian Krone (NOK: up 0.28%) are the top gainers today versus the dollar.
JPY and USD are top laggers
The Japanese Yen and the US Dollar are top losers as they lost ground against other major currencies.
Forex Daily Pivot Points
Global Indices
Asian Markets Gain Momentum
In Asian equities, markets traded optimistically today. The Nikkei 225 was trading at 38155.5, up 0.99%. The Hang Seng was trading at 16403.0, up 1.36%. A pause in the soaring dollar and optimism about better earning reports from Taiwan semiconductor giants like TSMC helped Asian stocks gain some ground.
European Indices Surged
Speculations about European central banks’ rate cuts before the Fed might have fueled the European stocks.
- The UK’s FTSE 100 (UK100) surged 0.33% to 7916.
- France’s CAC 40 (FRA40) soared 0.35% to 8018.95.
- Germany’s DAX 30 (GER30) edged up by 0.35% to 17892.
US Equities Futures Start Positively
Looking at Equity Futures so far, The SP500 Futures was trading at 5043.0498, up 0.28%.
Popular US Indices Surged
- Standard & Poor’s 500 (SPX500) jumped up by 0.45% to 5045.3.
- Nasdaq (NAS100) soared 0.58% to 17615.7.
- Dow Jones Industrial Average (USA30) soared 0.3% to 37878.
Energy Markets
Crude Oil Futures Edged Up
In the energy space, oil futures trade is stronger today. The WTI Crude Futures were trading at 82.337, up 0.09%, and the Brent Crude Futures were trading at 87.025, up 0.06%.
Crude Oil Spot Prices Take a Breather
- Brent Crude (UKOIL) trades flat at $86.948 a barrel.
- WTI Crude (OIL) trades flat at $82.277 a barrel.
- Natural Gas (NATGAS) soared 1.51% to $1.978/MMBtu.
Precious Metals Soared
Gold (XAUUSD) surged 0.73% to 2378.56. Silver (XAGUSD) soared 1.22% to 28.5715.
To Summarize
The morning bell in the global financial markets brings some positive outlook today - as currencies like SEK and NOK shine despite the US Dollar and Yen losing some ground in Forex. Stocks and indices across the corners paint a positive picture. Oil prices remain almost unchanged, while Gold continues to shine. Stay tuned for updates as the trading day unfolds.
