Forex Newsletter: Mixed Start with Dollar & Loonie Surging

London: 28 October 2024 2024 (TraderMade): Welcome to today's FX Newsletter!

The global financial markets indicate a mixed beginning today, with the US Dollar & Loonie emerging as top gainers while the Yen & Swedish Krona decline. Global indices are mostly positive, yet significant drops can be seen across commodity markets.

Let's go through the sector-wise updates for more details:

Key Takeaways

• Forex: USD & CAD soared while JPY (Down 0.88%) & NOK (Down 0.39%) declined vs USD.
• Asia-Pacific Mixed: Nikkei (JPN225) was unchanged, yet Hang Seng (HKG33) soared 0.19%.
• European Indices Soared: FTSE (UK100) increased 0.32%, CAC (FRA40) soared 0.16%, & DAX (GER30) edged 0.06%.
• US Markets Positive: S&P 500 (SPX500) gained 0.53%, Nasdaq (NAS100) increased 0.7%, & Dow Jones (USA30) also soared 0.42%.
• Energy Markets Dipped: Brent Crude (UKOIL) & WTI Crude (OIL) dropped over 4.51%, & Natural Gas (NATGAS) slipped 1.21%.
• Precious Metals Declined: Gold (XAUUSD) dropped 0.35%, & Silver (XAGUSD) declined 0.82%.

G10 Forex

USD & CAD are Top Gainers

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

JPY & NOK are Top Laggers

On the other hand, the Japanese Yen (JPY: Dropped 0.88%) and Norwegian Krone (NOK: Dipped 0.39%) are the top losers versus the US Dollar (USD).

Forex Daily Pivot Points

Global Indices Mostly Optimistic

Asian Markets Mixed

In Asian equities, markets were trading mixed today.

• The Nikkei (JPN225) was trading flat at 38040.
• The Hang Seng (HKG33) was trading at 20621.0, up 0.19%.

European Indices Gained

In European equities, indices were trading mixed today.

• The FTSE (UK100) surged 0.32% to 8262.4.
• The CAC (FRA40) was trading at 7517.8799, up 0.16%.
• The DAX (GER30) was trading at 19504.9004, up 0.06%.

US Equities Futures Soared

Looking at Equity Futures, the SP500 Futures was trading at 5845.5498, up 0.07%.

Popular US Indices Surged

• Standard & Poor's 500 (SPX500) surged 0.53% to 5840.95.
• Nasdaq (NAS100) soared 0.7% to 20492.3.
• Dow Jones Industrial Average (USA30) edged 0.42% to 42314.9.

Energy Markets

Crude Oil Futures

In the energy space, oil futures trade is weaker today. The Brent Crude Futures was trading at 72.2465, down 4.47%. The WTI Crude Futures was trading at 68.32, down 0.48%.

Spot Prices Dropped

• Brent Crude (UKOIL) plummeted 4.51% to $72.213 a barrel.
• WTI Crude (OIL) dropped 4.6% to $68.27499 a barrel.
• Natural Gas (NATGAS) dipped 1.21% to $3.0615/MMBtu.

Precious Metals Lost Glimmer

• Gold (XAUUSD) dipped 0.35% to 2737.065.
• Silver (XAGUSD) dropped 0.82% to 33.404.

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 updates as the trading day unfolds.

_{We compared the Live Rates at about 05:55 AM GMT to the Last Close Values to calculate the Percentage Differences. Image Courtesy: TabTrader.com on Unsplash}