Forex Newsletter: Mixed Bag with GBP & SEK Soaring

London: 16 October 2024 (TraderMade): Welcome to today’s FX Newsletter! The global financial markets indicate a mixed start. The British Pound & Swedish Krona emerged as top gainers in Forex, while Kiwi & Aussie declined against the US Dollar. Asian & US indices were stronger, yet European markets awaited direction. Commodities markets were mixed. Let’s dive into the sector-wise updates:

Key Takeaways

• Forex: GBP (Up 0.02%) & SEK (UIp 0.01%) soared while NZD (Down 0.36%) & AUD (Down 0.17%) dipped vs USD.
• Asia-Pacific Surged: Nikkei (JPN225) soared 0.49%, and Hang Seng (HKG33) gained 2.18%.
• European Indices Awaited Direction: FTSE (UK100), CAC (FRA40), & DAX (GER30) traded flat at writing time.
• US Markets Edged: S&P 500 (SPX500) soared 0.11%, Nasdaq (NAS100) surged 0.28%, & Dow Jones (USA30) was almost unchanged.
• Energy Markets Mixed: Brent Crude (UKOIL) dropped 0.34%, WTI Crude (OIL) declined 0.17%, yet Natural Gas (NATGAS) soared 0.6%.
• Precious Metals Surged: Gold (XAUUSD) gained 0.26%, and Silver (XAGUSD) edged 0.38%.

G10 Forex

GBP & SEK are Top Gainers

In the G10 FX Market, the British Pound (GBP: Edged 0.02%) and Swedish Krona (SEK: Rose 0.01%) are the top gainers today versus the US Dollar (USD).

NZD & AUD are Top Laggers

On the other hand, the New Zealand Dollar (NZD: Dropped 0.36%) and Australian Dollar (AUD: Dipped 0.17%) are the top losers versus the US Dollar (USD).

Forex Daily Pivot Points

Global Indices Mostly Positive

Asian Markets Strengthened

In the Asian equities, markets were trading stronger today. The Nikkei (JPN225) was trading at 39190.0, up 0.49%. The Hang Seng (HKG33) was trading at 20454.0, up 2.18%.

European Indices Unchanged

• The UK’s FTSE 100 (UK100) was unchanged at 8238.5.
• France’s CAC 40 (FRA40) traded flat at 7463.1.
• Germany’s DAX 30 (GER30) traded flat at 19474.5.

US Equities Futures Edged Up

Looking at Equity Futures so far, the SP500 Futures was trading at 5830.3501, up 0.08%.

Popular US Indices Optimistic

• Standard & Poor’s 500 (SPX500) soared 0.11% to 5828.95.
• Nasdaq (NAS100) surged 0.28% to 20238.148.
• Dow Jones Industrial Average (USA30) traded flat at 42790.

Energy Markets

Crude Oil Futures Slipped

In the Energy space, Oil futures were trading weaker today. The Brent Crude Futures was trading at 74.18, down 0.38%. The WTI Crude Futures was trading at 70.235, down 0.34%.

Spot Prices Mixed: Crude Oil Dropped, Natural Gas Surged

• Brent Crude (UKOIL) dropped 0.34% to $74.21001 a barrel.
• WTI Crude (OIL) dipped 0.17% to $70.26 a barrel.
• Natural Gas (NATGAS) surged 0.6% to $2.8555/MMBtu.

Precious Metals Gained

• Gold (XAUUSD) soared 0.26% to 2669.598.
• Silver (XAGUSD) surged 0.38% to 31.6235.

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 released UK inflation rate may impact the market dynamics.

_{We compared the Live Rates at about 05:49 AM GMT to the Last Close Values to calculate the Percentage Differences. Image Courtesy: Freepik}