Forex Newsletter: Mixed Start with Dollar & Swiss Francs Surging

London: 3 October 2024 (TraderMade): Welcome to today’s FX Newsletter! The global financial markets indicate mixed signals this morning. The US Dollar & Swiss Francs emerged as the top gainers in Forex. However, there are downbeat signals across global stock indices and metals markets. Energy markets soared. Let’s take you through the sector-wise updates:

Key Takeaways

• Forex: USD & CHF gained while GBP (Down 0.65%) & NZD (Down 0.52%) declined vs USD.
• Asia-Pacific Dropped: Nikkei (JPN225) dipped 0.96%, and Hang Seng (HKG33) plummeted 1.97%.
• European Indices Flat: FTSE (UK100), CAC (FRA40), and DAX (GER30) were almost unchanged at writing time.
• US Markets Dipped: S&P 500 (SPX500) slipped 0.36%, Nasdaq (NAS100) decreased 0.57%, and Dow Jones (USA30) also dropped 0.23%.
• Energy Markets Gained: Brent Crude (UKOIL) edged 0.2%, WTI Crude (OIL) soared 0.26%, and Natural Gas (NATGAS) surged 0.36%.
• Precious Metals Dropped: Gold (XAUUSD) slipped 0.2%, and Silver (XAGUSD) dipped 0.67%.

G10 Forex

USD & CHF are Top Gainers

In the G10 FX Market, the US Dollar (USD) and Swiss Francs (CHF) are the top gainers as they surged against the other major currencies today.

GBP & NZD are Top Laggers

On the other hand, the British Pound (GBP: Dropped 0.65%) and the New Zealand Dollar (NZD: Dipped 0.52%) are the top losers versus the dollar (USD).

Forex Daily Pivot Points

Global Indices Down

Asian Markets Dipped

In the Asian equities, markets were trading weak today. The Nikkei (JPN225) was trading at 38577.5, down 0.96%. The Hang Seng (HKG33) was trading at 22045.0, down 1.97%.

European Indices Awaited Direction

• The UK’s FTSE 100 (UK100) traded flat at 8279.5.
• France’s CAC 40 (FRA40) was almost unchanged at 7579.5.
• Germany’s DAX 30 (GER30) traded flat at 19180.102.

US Equities Futures Slipped

Looking at Equity Futures so far, the SP500 Futures was trading at 5704.5498, down 0.33%.

Popular US Indices Dropped

• Standard & Poor’s 500 (SPX500) dropped 0.36% to 5702.55.
• Nasdaq (NAS100) dipped 0.57% to 19752.7.
• Dow Jones Industrial Average (USA30) decreased 0.23% to 42169.

Energy Markets

Crude Oil Futures Strengthened

In the Energy space, Oil futures were trading stronger today. The WTI Crude Futures was trading at 70.775, up 0.26%. The Brent Crude Futures was trading at 74.67, up 0.08%.

Spot Prices Heated Up

• Brent Crude (UKOIL) soared 0.2% to $74.76 a barrel.
• WTI Crude (OIL) surged 0.26% to $70.845 a barrel.
• Natural Gas (NATGAS) edged 0.36% to $3.0965/MMBtu.

Precious Metals Lost Shine

• Gold (XAUUSD) dipped 0.2% to 2653.5894.
• Silver (XAGUSD) dropped 0.67% to 31.6205.

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 news and updates from the financial world as the trading day progresses.

_{We compared the Live Rates at about 05:50 AM GMT to the Last Close Values to calculate the Percentage Differences. Image Courtesy: Jakub Zerdzicki on Unsplash}