Forex Newsletter: Downbeat Beginning with Yen & Dollar Gaining

London: 12 November 2024 (TraderMade): Welcome to today’s FX Newsletter!

The global financial markets started on a downbeat note today. Yen & Dollar gained while the Aussie & Norwegian Krone dipped against the US Dollar. Global indices, Energy, & Metals markets recorded declines.

Let’s go through the sector-wise updates:

Key Takeaways

• Forex: JPY & USD gained while AUD (Down 0.32%) & NOK (Down 0.21%) dipped vs USD.
• Asia-Pacific Dropped: Nikkei (JPN225) dipped 1.34%, & Hang Seng (HKG33) slipped 1.93%.
• European Indices Dipped: FTSE (UK100) was down 0.23%, while CAC (FRA40) & DAX (GER30) declined 0.39%.
• US Markets Down: S&P 500 (SPX500) & Nasdaq (NAS100) slightly dipped, while Dow Jones (USA30) slipped 0.12%.
• Energy Markets Dipped: Brent Crude (UKOIL) dipped 0.36%, WTI Crude (OIL) dropped 0.48%, and Natural Gas (NATGAS) lost 0.4%.
• Precious Metals Declined: Gold (XAUUSD) slipped 0.29%, while Silver (XAGUSD) plummeted over 1%.

G10 Forex

JPY & USD are Top Gainers

In the G10 FX Market, the Japanese Yen (JPY) and the US Dollar (USD) are today's top gainers, as they surged against the other major currencies.

AUD & NOK are Top Laggers

On the other hand, the Australian Dollar (AUD: Dropped 0.32%) and Norwegian Krone (NOK: Dipped 0.21%) are the top losers compared to the US Dollar (USD).

Forex Daily Pivot Points

Global Indices Declined

Asian Markets Dipped

In Asian equities, markets are trading weakly today.

• The Nikkei (JPN225) was trading at 39177.3984, down 1.34%.
• The Hang Seng (HKG33) was trading at 19909.8008, down 1.93%.

European Indices Dropped

In European equities, indices declined today.

• The UK’s FTSE 100 (UK100) traded at 8096.4302, down 0.23%.
• France’s CAC 40 (FRA40) traded at 7375.6401, down 0.39%.
• Germany’s DAX 30 (GER30) traded at 19336.1992, down 0.39%.

US Equities Futures Down

Looking at Equity Futures, the SP500 Futures was trading at 6003.8799, down 0.06%.

Popular US Indices Slipped

• Standard & Poor’s 500 (SPX500) slightly dipped by 0.08% to 6003.07.
• Nasdaq (NAS100) narrowly slipped by 0.04% to 21116.
• Dow Jones Industrial Average (USA30) dropped 0.12% to 44297.8.

Energy Markets

Crude Oil Futures Dipped

In the energy space, oil futures trade is weak today. The Brent Crude Futures was trading at 71.5585, down 0.36%. The WTI Crude Futures was trading at 67.79, down 0.4%.

Spot Prices Declined

• Brent Crude (UKOIL) dropped 0.36% to $71.559 a barrel.
• WTI Crude (OIL) dipped 0.48% to $67.73 a barrel.
• Natural Gas (NATGAS) also declined 0.4% to $3.0755/MMBtu.

Precious Metals Lost Glimmer

• Gold (XAUUSD) declined 0.29% to 2611.75.
• Silver (XAGUSD) dipped over 1% to 30.3935.

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 for more updates as the UK Unemployment Rate & Japan’s PPI may affect the market dynamics later today.

_{We compared the Live Rates at about 05:41 AM GMT to the Last Close Values to calculate the Percentage Differences. Image Courtesy: Dylan Calluy on Unsplash}