Forex Newsletter: Downbeat Beginning with JPY & CHF Soaring

London: 31 October 2024 (TraderMade): Welcome to today’s FX Newsletter!

The global financial markets indicate a downbeat start today, with Yen & Swiss Francs emerging as top gainers, while Loonie & Swedish Krona are losing ground against the US Dollar. Global Indices & Precious Metals declined, while Energy markets were mixed.

Let’s go through the sector-wise updates to dig deeper:

Key Takeaways

• Forex: JPY (Up 0.23%) & CHF (Up 0.11%) soared while CAD & SEK (both Down 0.12%) slipped vs USD.
• Asia-Pacific Down: Nikkei (JPN225) was unchanged, & Hang Seng (HKG33) slipped 0.11%.
• European Indices Dipped: FTSE (UK100) slipped 0.22%, CAC (FRA40) dipped 0.19%, & DAX (GER30) slipped 0.15% at writing time.
• US Markets Slipped: S&P 500 (SPX500) dipped 0.35%, Nasdaq (NAS100) declined 0.52%, & Dow Jones (USA30) dropped 0.15%.
• Energy Markets Mixed: Brent Crude (UKOIL) narrowly increased, WTI Crude (OIL) dipped 0.22%, & Natural Gas (NATGAS) surged 0.31%.
• Precious Metals Declined: Gold (XAUUSD) slipped 0.13%, & Silver (XAGUSD) dropped 0.41%.

G10 Forex

JPY & CHF are Top Gainers

In the G10 FX Market, the Japanese Yen (JPY: Surged 0.23%) and Swiss Francs (CHF: Soared 0.11%) are the top gainers today versus the US Dollar (USD).

CAD & SEK are Top Laggers

On the other hand, the Canadian Dollar (CAD: Dropped 0.12%) and Swedish Krona (SEK: Dipped 0.12%) are the top losers versus the US Dollar (USD).

Forex Daily Pivot Points

Global Indices Down

Asian Markets Dipped

In Asian equities, markets are trading weakly today.

• The Nikkei (JPN225) was trading flat at 38040.
• The Hang Seng (HKG33) was trading at 20384.5, down 0.11%.

European Indices Declined

In European equities, indices traded weakly today.

• The UK’s FTSE 100 (UK100) dipped 0.22% to 8143.2002.
• France’s CAC 40 (FRA40) slipped 0.19% to 7408.8999.
• Germany’s DAX 30 (GER30) declined 0.15% to 19189.8008.

US Equities Futures Slipped

Looking at Equity Futures so far, the SP500 Futures was trading at 5798.1499, down 0.12%.

Popular US Indices Dropped

• Standard & Poor’s 500 (SPX500) dropped 0.35% to 5797.65.
• Nasdaq (NAS100) dipped 0.52% to 20287.5.
• Dow Jones Industrial Average (USA30) slipped 0.15% to 42148.

Energy Markets

Crude Oil Futures Strengthened

In the energy space, the oil futures were trading stronger today. The Brent Crude Futures was trading at 72.61, up 0.02%. The WTI Crude Futures was trading at 68.885, up 0.21%.

Spot Prices Mixed

• Brent Crude (UKOIL) slightly edged to $72.605 a barrel.
• WTI Crude (OIL) dipped 0.22% to $68.89 a barrel.
• Natural Gas (NATGAS) soared 0.31% to $2.9045/MMBtu.

Precious Metals LOst Shine

• Gold (XAUUSD) dipped 0.13% to 2783.945.
• Silver (XAGUSD) dropped 0.41% to 33.633.

To Summarize

Today’s forex trading newsletter covers the status of various financial instruments across forex, stock indices, and commodities at the morning bell. Stay tuned as the recently announced BoJ interest rate decision and economic releases later today, like the Euro Area inflation rate & US Core PCE index, may influence the market dynamics.

_{We compared the Live Rates (US Indices & Commodities) at about 05:51 AM GMT to the Last Close Values to calculate the Percentage Differences. Image Courtesy: Joshua Mayo on Unsplash}