Forex Newsletter: Mixed Signals with Aussie & Kiwi Leading

London: 7 November 2024 (TraderMade): Welcome to today’s FX Newsletter!

The global financial markets indicated a mixed start today, with Aussie & Kiwi emerging as top gainers, while Swiss Francs & US Dollar declined. Asian indices were mixed, European markets were downbeat, yet US indices soared. Similarly, the Energy sector recorded modest gains, yet Precious Metals lost glimmer.

Let’s dive deeper into the sector-wise updates:

Key Takeaways

• Forex: AUD (Up 0.76%) & NZD (Up 0.74%) soared, while CHF & USD declined.
• Asia-Pacific Mixed: Nikkei (JPN225) dipped 1.14%, yet Hang Seng (HKG33) soared 1.24%.
• European Indices Down: FTSE (UK100) narrowly slipped, CAC (FRA40) dipped 0.27%, & DAX (GER30) decreased 0.14%.
• US Markets Up: S&P 500 (SPX500) edged 0.07%, Nasdaq (NAS100) soared 0.16%, & Dow Jones (USA30) increased by about 0.1%.
• Energy Markets Surged: Brent Crude (UKOIL) gained 0.2%, WTI Crude (OIL) edged 0.29%, & Natural Gas (NATGAS) also soared 0.26%.
• Precious Metals Declined: Gold (XAUUSD) was almost unchanged, & Silver (XAGUSD) slipped 0.12%.

G10 Forex

AUD & NZD are Top Gainers

In the G10 FX Market, the Australian Dollar (AUD: Surged 0.76%) and New Zealand Dollar (NZD: Soared 0.74%) are the top gainers today versus the US Dollar (USD).

CHF & USD are Top Laggers

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

Forex Daily Pivot Points

Global Indices

Asian Markets Mixed

In Asian equities, markets were trading mixed today.

• The Nikkei (JPN225) was trading at 39357.3984, down 1.14%.
• The Hang Seng (HKG33) was trading at 20707.0996, up 1.24%.

European Indices Dipped

In the European equities, indices were trading weaker today.

• The UK’s FTSE 100 (UK100) slightly dipped to 8170.3901.
• France’s CAC 40 (FRA40) slipped 0.27% to 7350.6899.
• Germany’s DAX 30 (GER30) also decreased by 0.14% to 19073.5.

US Equities Futures Soared

Looking at Equity Futures so far, the SP500 Futures was trading at 5944.3901, up 0.19%.

Popular US Indices Optimistic

• Standard & Poor’s 500 (SPX500) slightly edged by 0.07% to 5946.21.
• Nasdaq (NAS100) soared 0.16% to 20859.8.
• Dow Jones Industrial Average (USA30) surged about 0.1% to 43910.

Energy Markets

Crude Oil Futures Strengthened

In the Energy space, Oil futures were trading stronger today. The Brent Crude Futures was trading at 75.2685, up 0.19%. The WTI Crude Futures was trading at 71.81, up 0.6%.

Spot Prices Gained

• Brent Crude (UKOIL) rose about 0.2% to $75.2745 a barrel.
• WTI Crude (OIL) soared 0.29% to $71.78 a barrel.
• Natural Gas (NATGAS) edged 0.26% to $2.734/MMBtu.

Precious Metals Lost Shine

• Gold (XAUUSD) traded flat at 2659.47.
• Silver (XAGUSD) dipped 0.12% to 31.135.

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 BoE & Fed interest rate decisions scheduled for later today may influence the markets. So, stay tuned for the latest updates in the financial world as the trading day unfolds.

_{We compared the Live Rates at about 05:58 AM GMT to the Last Close Values to calculate the Percentage Differences. Image Courtesy: rc.xyz NFT Gallery on Unsplash}