Morning Digest: Stagnant Start with NZD & AUD Gains

London: 15 May 2024 (TraderMade): Welcome to today’s Morning Digest! The global financial markets paint a mixed picture today, with commodity-based currencies like NZD & AUD gaining ground and GBP & USD declining in forex. Global indices are almost flat, Energy markets are down, yet Gold and Silver are making modest gains. Here are sector-wise details:

Key Takeaways

• In Forex, NZD (up 0.36%) and AUD (up 0.31%) stretched their muscles against the dollar, while GBP and USD declined.
• In Asia, Nikkei (JPN225) dipped 0.67%, and Hang Seng (HKG33) traded flat.
• European indices, including FTSE (UK100), CAC (FRA40), and DAX (GER30) traded flat today.
• US indices: S&P 500 (SPX500), Nasdaq (NAS100), and Dow Jones (USA30) traded flat today.
• Energy markets lost momentum: Brent (UKOIL) dipped 0.91%, WTI Crude (OIL) slipped 0.59%, while Natural Gas (NATGAS) lost 0.26%.
• Among Precious Metals, Gold (XAUUSD) surged 0.88%, and Silver (XAGUSD) soared 1.31%.

G10 Forex

NZD and AUD are Top Gainers

In the G10 FX Market, the New Zealand Dollar (NZD: Surged 0.36%) and Australian Dollar (AUD: Soared 0.31%) are the top gainers versus the dollar today.

GBP and USD are Top Laggers

British Pound Sterling (GBP) and the US Dollar (USD) are the top losers, as they declined against the other major currencies today.

Forex Daily Pivot Points

Global Indices Mostly Unchanged

Asian Markets Dipped

In Asian equities, markets were trading weaker today. The Nikkei (JPN225) was trading at 38370.0, down 0.67%. The Hang Seng was trading flat at 19093.5.

European Indices Flat

• The UK’s FTSE 100 (UK100) slightly dipped to 8452.9.
• France’s CAC 40 (FRA40) trades flat at 8248.5.
• Germany’s DAX 30 (GER30) trades flat at 18792.5.

US Equities Futures Slightly Edged Up

Looking at Equity Futures so far, The SP500 Futures was trading at 5251.7002, up 0.01%.

Popular US Indices

• Standard & Poor’s 500 (SPX500) slightly edged up to 5252.2.
• Nasdaq (NAS100) trades flat at 18331.25.
• Dow Jones Industrial Average (USA30) narrowly edged up to 39606.

Energy Markets Mixed

Crude Oil Futures Edged Up

In the energy space, the oil futures trade is stronger today. The WTI Crude Futures were trading at 78.162, up 0.19%, and the Brent Crude Futures were trading at 82.598, up 0.16%.

Spot Prices Declined

• Brent Crude (UKOIL) dipped 0.91% to $82.71699 a barrel.
• WTI Crude (OIL) slipped 0.59% to $78.272 a barrel.
• Natural Gas (NATGAS) was down 0.26% to $2.5215/MMBtu.

Precious Metals

• Gold (XAUUSD) surged 0.88% to 2357.2915.
• Silver (XAGUSD) soared 1.31% to 28.5695.

To Summarize

At the morning bell today, the global financial markets painted a cautious and stagnant picture. Commodity currencies like NZD and AUD stretched muscles, GBP and USD lost ground, global indices were mostly flat, and Energy markets lost momentum as Crude Oil and Natural Gas declined.

Yet Gold and Silver continued their uptrend today. Stay with us for the latest updates as the trading day unfolds.

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