Forex Newsletter: Mixed Kickoff with Euro & Pound Surging

London: 23 October 2024 (TraderMade): Welcome to today’s FX Newsletter!

The global financial markets indicate a mixed beginning today, with the Euro & Pound leading the pack in Forex, while the Yen & Swiss Francs decline against the US Dollar. Global indices are mixed. The energy sector recorded modest gains, yet Metals are mixed.

Let’s dive into the sector-wise updates:

Key Takeaways

• Forex: EUR (Up 0.06%) & GBP (Up 0.04%) soared while JPY (Down 0.68%) & CHF (Down 0.22%) declined against USD.
• Asia-Pacific Mixed: Nikkei (JPN225) dropped 0.77%, & Hang Seng (HKG33) surged 1.09%.
• European Indices Mixed: FTSE (UK100) dipped 0.02%, CAC (FRA40) edged 0.01%, & DAX (GER30) soared 0.2% at writing time.
• US Markets Mixed: S&P 500 (SPX500) & Nasdaq (NAS100) were almost unchanged, yet Dow Jones (USA30) soared 0.1%.
• Energy Markets Gained: Brent Crude (UKOIL) increased 0.38%, WTI Crude (OIL) soared 0.24%, & Natural Gas (NATGAS) jumped 0.16%.
• Precious Metals Mixed: Gold (XAUUSD) narrowly edged, while Silver (XAGUSD) dipped 0.43%.

G10 Forex

EUR & GBP are Top Gainers

In the G10 FX Market, the Euro (EUR: Surged 0.06%) and the British Pound (GBP: Soared 0.04%) are the top gainers today versus the US Dollar (USD).

JPY & CHF are Top Laggers

On the other hand, the Japanese Yen (JPY: Dipped 0.68%) and Swiss Francs (CHF: Slipped 0.22%) are the top losers versus the US Dollar.

Forex Daily Pivot Points

Global Indices Mixed

Asian Markets Mixed

In Asian equities, markets were trading mixed today.

• The Nikkei (JPN225) was trading at 38117.0, down 0.77%.
• The Hang Seng (HKG33) was trading at 20863.5, up 1.09%.

European Indices Mixed

In European equities, indices were trading mixed today.

• The FTSE 100 (UK100) was trading at 8315.1504, down 0.2%.
• The CAC 40 (FRA40) was trading at 7545.2798, up 0.01%.
• The DAX 30 (GER30) was trading at 19465.1992, up 0.1%.

US Equities Futures Dipped

Looking at Equity Futures so far, the SP500 Futures was trading at 5855.1499, down 0.05%.

Popular US Indices Mixed

• Standard & Poor’s 500 (SPX500) traded flat at 5854.95.
• Nasdaq (NAS100) traded flat at 20378.5.
• Dow Jones Industrial Average (USA30) surged 0.2% to 42868.2.

Energy Markets Optimistic

Crude Oil Futures Soared

In the energy space, the oil futures trade is stronger today. The Brent Crude Futures was trading at 75.67, up 0.51%. The WTI Crude Futures was trading at 71.61, up 0.36%.

Spot Prices Surged

• Brent Crude (UKOIL) soared 0.38% to $75.5745 a barrel.
• WTI Crude (OIL) surged 0.24% to $71.525 a barrel.
• Natural Gas (NATGAS) edged 0.16% to $2.8885/MMBtu.

Precious Metals Mixed

• Gold (XAUUSD) gained slightly by 0.07% to 2750.98.
• Silver (XAGUSD) dropped 0.43% to 34.7055.

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 the latest financial news, as the BoC interest rate decision being announced later today may influence the market dynamics.

_{We compared the Live Rates at about 06:02 AM GMT to the Last Close Values to calculate the Percentage Differences. Image Courtesy: Tigran Hambardzumyan on Unsplash}