Forex Newsletter: Mixed Start with CAD & USD Soaring

London: 9 September 2024 (TraderMade): Welcome to today’s FX Newsletter! The global financial markets indicate a mixed start this morning. The Canadian Dollar and Greenback flexed their muscles in Forex; Global Indices are mixed; Crude Oil gained, yet Natural Gas slipped in Energy markets; Gold and Silver declined a bit. Let’s take you through the sector-wise updates:

Key Takeaways

• Forex: CAD & USD gained while JPY (Down 0.39%) & CHF (Down 0.33%) dipped vs USD.
• Asia-Pacific Mixed: Nikkei (JPN225) surged 2.52%, Hang Seng (HKG33) traded flat.
• European Indices Unchanged: FTSE (UK100), CAC (FRA40), and DAX (GER30) traded flat at writing time.
• US Markets Up: S&P 500 (SPX500) was up 0.85%, Nasdaq (NAS100) surged 1.24%, and Dow Jones (USA30) also soared 0.64%.
• Energy Markets Mixed: Brent Crude (UKOIL) soared 0.37%, WTI Crude (OIL) surged 0.34%, yet Natural Gas (NATGAS) dipped 2.78%.
• Precious Metals Narrowly Dipped: Gold (XAUUSD) was down 0.06%, and Silver (XAGUSD) also slightly dipped by 0.09%.

G10 Forex

CAD & USD are Top Gainers

In the G10 FX Market, the Canadian Dollar (CAD) and the US Dollar (USD) are the standout performers today, demonstrating their strength against the other major currencies.

JPY & CHF are Top Laggers

The Japanese Yen (JPY: Dipped 0.39%) and Swiss francs (CHF: Slipped 0.33%) are the top losers versus the dollar (USD).

Forex Daily Pivot Points

Global Indices Mostly Positive

Asian Markets Mixed

In the Asian equities, markets were trading mixed today. The Nikkei (JPN225) was trading at 36203.0, up 2.52%. The Hang Seng (HKG33) was trading flat at 17116.0.

European Indices Flat

• The UK’s FTSE 100 (UK100) traded flat at 8158.3.
• France’s CAC 40 (FRA40) traded flat at 7343.7.
• Germany’s DAX 30 (GER30) traded flat at 18213.9.

US Equities Futures Edged Up

Looking at Equity Futures so far, the SP500 Futures are showing resilience, trading at 5432.5, up 0.39%.

Popular US Indices Optimistic

• Standard & Poor’s 500 (SPX500) surged 0.85% to 5432.95.
• Nasdaq (NAS100) soared 1.24% to 18538.45.
• Dow Jones Industrial Average (USA30) also edged up 0.64% to 40476.

Energy Markets

Crude Oil Futures Soared

In the Energy space, Oil futures were trading stronger today. The Brent Crude Futures was trading at 71.585, up 0.3%. The WTI Crude Futures was trading at 67.84, up 0.06%.

Spot Prices Mixed

• Brent Crude (UKOIL) soared 0.37% to $71.635 a barrel.
• WTI Crude (OIL) edged up 0.34% to $67.88 a barrel.
• Natural Gas (NATGAS) dipped 2.78% to $2.3995/MMBtu.

Precious Metals Slightly Declined

• Gold (XAUUSD) slightly dipped by 0.06% to 2495.4727.
• Silver (XAGUSD) also slipped 0.09% to 27.902.

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 global financial markets look mixed to begin the new week. Stay tuned for the latest financial news and updates as the trading day progresses.

_{Live Rates at about 05:38 AM GMT are compared to the Friday Close Values to calculate the Percentage Differences. Image Courtesy: PiggyBank on Unsplash}