Forex Newsletter: Mixed Start with Yen & Swedish Krona Gaining

London: 8 October 2024 (TraderMade): Welcome to today’s FX Newsletter! The global financial markets indicate a mixed start this morning. Yen & Swedish Krona emerged as the top gainers. Asian & US indices declined, and European indices awaited direction. Commodities markets are mixed. Let’s go through the sector-wise updates for more details:

Key Takeaways

• Forex: JPY (Up 0.18%) & SEK (Up 0.12%) surged while AUD (Down 0.37%) & NOK (Down 0.13%) dropped vs USD.
• Asia-Pacific Down: Nikkei (JPN225) dipped 0.2%, and Hang Seng (HKG33) plummeted 7.75%.
• European Indices Await Direction: FTSE (UK100), CAC (FRA40), and DAX (GER30) were almost unchanged at writing time.
• US Markets Dipped: S&P 500 (SPX500) slipped 0.13%, Nasdaq (NAS100) dropped 0.21%, and Dow Jones (USA30) dipped 0.13%.
• Energy Markets Mixed: Brent Crude (UKOIL) dipped 1.86%, WTI Crude (OIL) slipped 1.89%, yet Natural Gas (NATGAS) soared 0.77%.
• Precious Metals Mixed: Gold (XAUUSD) narrowly gained, yet Silver (XAGUSD) dropped 0.74%.

G10 Forex

JPY & SEK are Top Gainers

In the G10 FX Market, the Japanese Yen (JPY: Surged 0.18%) and Swedish Krona (SEK: Soared 0.12%) are the top gainers today versus the US Dollar (USD).

AUD & NOK are Top Laggers

On the other hand, the Australian Dollar (AUD: Declined 0.37%) and Norwegian Krone (NOK: Slipped 0.13%) are the top losers versus the US Dollar (USD).

Forex Daily Pivot Points

Global Indices Downbeat

Asian Markets Dropped

In the Asian equities, markets were trading weaker today. The Nikkei (JPN225) was trading at 38860.5, down 0.2%. The Hang Seng (HKG33) was trading at 21577.0, down 7.75%.

European Indices Flat

• The UK’s FTSE 100 (UK100) traded flat at 8295.3.
• France’s CAC 40 (FRA40) traded flat at 7562.
• Germany’s DAX 30 (GER30) traded flat at 19037.6.

US Equities Futures Dipped

Looking at Equity Futures so far, the SP500 Futures was trading at 5700.0498, down 0.03%.

Popular US Indices Declined

• Standard & Poor’s 500 (SPX500) dipped 0.13% to 5699.05.
• Nasdaq (NAS100) dropped 0.21% to 19799.7.
• Dow Jones Industrial Average (USA30) slipped 0.13% to 41948.

Energy Markets

Crude Oil Futures Slipped

In the Energy space, Oil futures were trading weak today. The Brent Crude Futures was trading at 79.5, down 1.66%. The WTI Crude Futures was trading at 75.51, down 1.62%.

Spot Prices: Crude Oil Dropped, Natural Gas Soared

• Brent Crude (UKOIL) declined 1.86% to $79.345 a barrel.
• WTI Crude (OIL) decreased 1.89% to $75.365 a barrel.
• Natural Gas (NATGAS) surged 0.77% to $3.004/MMBtu.

Precious Metals Mixed

• Gold (XAUUSD) slightly edged up to 2643.615.
• Silver (XAGUSD) dipped 0.74% to 31.449.

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 RBA Meeting Minutes, Canada Balance of Trade, and other economic data releases scheduled for later today may influence the market dynamics.

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