Forex Newsletter: Cautious Start with Kiwi & Aussie Surging

London: 30 September 2024 (TraderMade): Welcome to today's FX Newsletter! The global financial markets indicated a mixed start this morning. Despite the pessimistic signals across the global stock and commodity markets, the significant surge of the Kiwi & Aussie against the US dollar is a key trend to note. Let's go through the sector-wise updates for more details:

Key Takeaways

• Forex: NZD & AUD soared 0.49% vs USD while USD & CHF dipped.
• Asia-Pacific Mixed: Nikkei (JPN225) dropped 0.39%, and Hang Seng (HKG33) surged 2.69%.
• European Indices Unchanged: FTSE (UK100), CAC (FRA40), and DAX (GER30) traded flat at writing time.
• US Markets Mixed: S&P 500 (SPX500) slightly increased, Nasdaq (NAS100) traded flat, and Dow Jones (USA30) soared 0.11%.
• Energy Markets Flat: Brent Crude (UKOIL), WTI Crude (OIL), and Natural Gas (NATGAS) were almost unchanged at writing time.
• Precious Metals: Gold (XAUUSD) traded almost flat, but the significant 0.1% surge in Silver (XAGUSD) provides optimism in the precious metals market.

G10 Forex

NZD & AUD are Top Gainers

In the G10 FX Market, the New Zealand Dollar (NZD) and Australian Dollar (AUD) surged 0.49% against the US Dollar (USD) to emerge as today's top gainers. This surge could be attributed to scenarios favoring commodity-based currencies.

USD & CHF are Top Laggers

On the other hand, the US Dollar (USD) and Swiss Francs (CHF) are the top losers as they declined against the other major currencies.

Forex Daily Pivot Points

Global Indices

Asian Markets Mixed

Asian equities markets were trading mixed today. The Nikkei (JPN225) was trading at 37901.0, down 0.39%. The Hang Seng (HKG33) was trading at 21371.0, up 2.69%.

European Indices Flat

• The UK's FTSE 100 (UK100) traded flat at 8299.7.
• France's CAC 40 (FRA40) traded flat at 7765.2.
• Germany's DAX 30 (GER30) traded flat at 19390.3.

US Equities Futures Dipped

Looking at Equity Futures, the SP500 Futures was trading at 5745.5449, down 0.13%.

Popular US Indices Mixed

• Standard & Poor's 500 (SPX500) slightly edged to 5741.295.
• Nasdaq (NAS100) traded flat at 19983.648.
• Dow Jones Industrial Average (USA30) soared 0.11% to 42366.

Energy Markets

Crude Oil Futures Flat

In the energy space, oil futures are almost unchanged today. The Brent Crude Futures & the WTI Crude Futures were trading flat.

Spot Prices Unchanged

• Brent Crude (UKOIL) traded flat at $71.94 a barrel.
• WTI Crude (OIL) traded flat at $68.435 a barrel.
• Natural Gas (NATGAS) narrowly inched up to $3.0275/MMBtu.

Precious Metals Mixed

• Gold (XAUUSD) traded almost unchanged at 2658.62.
• Silver (XAGUSD) surged 0.1% to 31.677.

To Summarize

Today's forex trading newsletter covers the status of various financial instruments across forex, stock indices, and commodities at the morning bell. The global markets indicate a mixed start, yet it is crucial to monitor the economic releases from Germany and Fed Chair Powell's Speech later today. These releases could potentially influence the market dynamics. Stay tuned for the latest updates as the trading day unfolds.

_{We compared the Live Rates at about 05:56 AM GMT to the Friday Close Values to calculate the Percentage Differences. Image Courtesy: Freepik}