Morning Digest: SEK & NZD Shine, Asian Stocks Dip, Oil Heats Up

Published on: Jan 30, 2024|2 min read

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London: 29 January 2024 (TraderMade): Welcome to today’s Morning Digest - your compass to gauge if global markets are upswinging.

SEK and NZD lead in the Forex landscape, Asian stocks dip, and oil heats up. Are European gains contagious? US equities await a positive open. Dive into today's market snapshot!

Key Takeaways

Currencies: SEK and NZD are the day's winners, while EUR and CHF show slight losses.
US Equity Futures: S&P 500 Futures hint at a potential green opening for the US market.
European Markets: Significant European indices show optimism post surges on 26 and 28 January and yesterday’s losses.
Asian Equities: Both Nikkei and Hang Seng experience declines, with Hang Seng seeing a steeper drop.
Energy: Oil prices gain ground, indicating an optimistic day for Brent and WTI Crude.

Swedish Krona (SEK) and New Zealand Dollar (NZD): These currencies are strengthening against the US Dollar, likely due to positive economic data or improved risk sentiment in their respective regions.

Euro (EUR) and Swiss Franc (CHF): These currencies face slight depreciation against the USD, potentially reflecting concerns about the European economy or broader market risks.

US Markets

The S&P 500 Futures are up 0.04%. At about 05:41 AM GMT:

S&P 500 Index (SPX500) surged slightly by 0.09% to 4931.75
Nasdaq (NAS100) slightly increased by 0.13% to 17631.352
Dow Jones Industrial Average (USA30) edged 0.03% to 38335.

These indices indicate a possible positive opening for the US stock market later today. This could be influenced by factors like earnings reports or economic data releases.

European Indices

The significant European indices were surging yesterday and started with a slight uptick.

The UK’s FTSE 100 (UK100) rose by 0.46% yesterday. Today, it is at 7676.3.
France's CAC 40 (FRA40)climbed 0.73% yesterday and is currently at 7669.7.
Similarly, Germany’s DAX (GER30) picked up by 0.87% yesterday and is presently 17003.8.

The chart below shows the trajectory of the UK's FTSE 100 index (UK100) over the last two weeks. On 17 January, this index plummeted to 7419.5 and was slightly up on 19 January to 7539.5. It peaked at 7682.7998 yesterday.

UK100 Chart

Asian Equities

Nikkei 225 (Japan) is down 0.15%, reflecting a cautious start for the Japanese market.
Hang Seng (Hong Kong) also declined by 0.46%, experiencing a more significant downtrend than the Nikkei.

Energy

Brent Crude (UKOIL) is up 0.22%, suggesting increased demand or supply concerns impacting the oil market.
WTI Crude (OIL) is also up 0.20%, following a similar upward trend as Brent Crude.