Forex Newsletter: Mixed Start with USD & AUD Soaring

London: 9 October 2024 (TraderMade): Welcome to today’s FX Newsletter! The global financial markets indicate a mixed start today. The US Dollar & Aussie emerged as the top gainers in Forex. However, Asian & US indices dropped. There are positive signs in the Energy & Metals sectors, however. Let’s go through the sector-wise updates to dig deeper:

Key Takeaways

• Forex: USD & AUD gained while NZD (Down 0.67%) & JPY (Down 0.21%) dipped vs USD.
• Asia-Pacific Dropped: Nikkei (JPN225) slipped 0.14%, and Hang Seng (HKG33) dipped 0.84%.
• European Indices Awaited Direction: FTSE (UK100), CAC (FRA40), and DAX (GER30) were almost unchanged at writing time.
• US Markets Dipped: S&P 500 (SPX500) slipped 0.14%, Nasdaq (NAS100) dropped 0.22%, and Dow Jones (USA30) narrowly slipped.
• Energy Markets Heated Up: Brent Crude (UKOIL) soared 0.45%, WTI Crude (OIL) surged 0.37%, and Natural Gas (NATGAS) edged 0.44%.
• Precious Metals Gained: Gold (XAUUSD) slightly edged up, and Silver (XAGUSD) soared 0.23%.

G10 Forex

USD & AUD are Top Gainers

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

NZD & JPY are Top Laggers

On the other hand, the New Zealand Dollar (NZD: Dropped 0.67%) and Japanese Yen (JPY: Dipped 0.21%) are the top losers versus the US Dollar (USD).

Forex Daily Pivot Points

Global Indices Downbeat

Asian Markets Weakened

In the Asian equities, markets were trading weak today. The Nikkei (JPN225) was trading at 39324.5, down 0.14%. The Hang Seng (HKG33) was trading at 20983.5, down 0.84%.

European Indices Flat

• The UK’s FTSE 100 (UK100) traded flat at 8213.9.
• France’s CAC 40 (FRA40) traded flat at 7538.3.
• Germany’s DAX 30 (GER30) traded flat at 19101.7.

US Equities Futures Dipped

Looking at Equity Futures so far, the SP500 Futures was trading at 5747.6499, down 0.12%.

Popular US Indices Down

• Standard & Poor’s 500 (SPX500) dipped 0.14% to 5748.75.
• Nasdaq (NAS100) dropped 0.22% to 20068.1.
• Dow Jones Industrial Average (USA30) slightly dipped to 42087.

Energy Markets Soared

Crude Oil Futures Strengthened

In the Energy space, Oil futures were trading stronger today. The Brent Crude Futures was trading at 77.54, up 0.25%. The WTI Crude Futures was trading at 73.635, up 0.22%.

Spot Prices Picked Up

• Brent Crude (UKOIL) surged 0.45% to $77.695 a barrel.
• WTI Crude (OIL) soared 0.37% to $73.775 a barrel.
• Natural Gas (NATGAS) edged 0.44% to $2.9885/MMBtu.

Precious Metals Surged

• Gold (XAUUSD) slightly increased to 2623.685.
• Silver (XAGUSD) soared 0.23% to 30.7455.

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 as the Germany Balance of Trade and US FOMC Meeting Minutes scheduled to be released later today may influence the market dynamics.

_{We compared the Live Rates at about 05:40 AM GMT to the Last Close Values to calculate the Percentage Differences. Image Courtesy: rc.xyz NFT Gallery on Unsplash}